Declared Dividend • May 28
Dividend of RM0.04 announced Dividend of RM0.04 is the same as last year. Ex-date: 24th June 2026 Payment date: 23rd July 2026 Dividend yield will be 5.4%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Reported Earnings • May 26
Third quarter 2026 earnings released: EPS: RM0.076 (vs RM0.057 in 3Q 2025) Third quarter 2026 results: EPS: RM0.076 (up from RM0.057 in 3Q 2025). Revenue: RM84.4m (up 1.2% from 3Q 2025). Net income: RM12.1m (up 34% from 3Q 2025). Profit margin: 14% (up from 11% in 3Q 2025). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • May 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.4% to RM1.51. The fair value is estimated to be RM1.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.3% over the last 3 years. Earnings per share has declined by 21%. Revenue is forecast to grow by 8.6% in a year. Earnings are forecast to grow by 77% in the next year. Reported Earnings • Feb 13
Second quarter 2026 earnings released: EPS: RM0.047 (vs RM0.065 in 2Q 2025) Second quarter 2026 results: EPS: RM0.047 (down from RM0.065 in 2Q 2025). Revenue: RM77.9m (down 3.6% from 2Q 2025). Net income: RM7.46m (down 28% from 2Q 2025). Profit margin: 9.6% (down from 13% in 2Q 2025). Revenue is forecast to grow 9.4% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Jan 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.3% to RM1.55. The fair value is estimated to be RM1.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has declined by 18%. Revenue is forecast to grow by 7.6% in a year. Earnings are forecast to grow by 39% in the next year. Buy Or Sell Opportunity • Dec 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.8% to RM1.54. The fair value is estimated to be RM1.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has declined by 18%. Revenue is forecast to grow by 7.6% in a year. Earnings are forecast to grow by 39% in the next year. Upcoming Dividend • Dec 10
Upcoming dividend of RM0.04 per share Eligible shareholders must have bought the stock before 17 December 2025. Payment date: 15 January 2026. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of Malaysian dividend payers (5.5%). Higher than average of industry peers (2.6%). Announcement • Dec 02
Yoong Onn Corporation Berhad Approves Single Tier Final Dividend in Respect of the Financial Year Ended 30 June 2025 Yoong Onn Corporation Berhad at its AGM held on December 2, 2025 approved single tier final dividend of 4.0 sen per ordinary share in respect of the financial year ended 30 June 2025. Buy Or Sell Opportunity • Dec 01
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.1% to RM1.55. The fair value is estimated to be RM1.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has declined by 18%. Revenue is forecast to grow by 7.6% in a year. Earnings are forecast to grow by 39% in the next year. Reported Earnings • Oct 31
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: RM0.14 (down from RM0.20 in FY 2024). Revenue: RM296.6m (up 9.4% from FY 2024). Net income: RM21.5m (down 32% from FY 2024). Profit margin: 7.3% (down from 12% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) also missed analyst estimates by 36%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Declared Dividend • Oct 29
Final dividend of RM0.04 announced Dividend of RM0.04 is the same as last year. Ex-date: 17th December 2025 Payment date: 15th January 2026 Dividend yield will be 5.2%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Announcement • Oct 27
Yoong Onn Corporation Berhad, Annual General Meeting, Dec 02, 2025 Yoong Onn Corporation Berhad, Annual General Meeting, Dec 02, 2025, at 10:00 Singapore Standard Time. Location: putra 1 room, nilai springs golf & country club, pt 4770, nilai springs, negeri sembilan darul khusus, 71800 putra nilai Malaysia New Risk • Aug 31
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: 7.3% Last year net profit margin: 12% 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 (7.3% net profit margin). Market cap is less than US$100m (RM255.4m market cap, or US$60.5m). Reported Earnings • Aug 31
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: RM0.14 (down from RM0.20 in FY 2024). Revenue: RM296.6m (up 9.4% from FY 2024). Net income: RM21.5m (down 32% from FY 2024). Profit margin: 7.3% (down from 12% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) also missed analyst estimates by 36%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 17
Upcoming dividend of RM0.04 per share Eligible shareholders must have bought the stock before 24 June 2025. Payment date: 25 July 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Malaysian dividend payers (5.6%). Lower than average of industry peers (8.6%). Declared Dividend • May 31
Dividend of RM0.04 announced Dividend of RM0.04 is the same as last year. Ex-date: 24th June 2025 Payment date: 25th July 2025 Dividend yield will be 4.7%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 17% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 30
Yoong Onn Corporation Berhad Announces Interim Single Tier Tax Exempt Dividend for the Financial Year Ending 30 June 2025, Payable on 24 July 2025 Yoong Onn Corporation Berhad announced Interim single tier tax exempt dividend of 4.0 sen per ordinary share in respect of the financial year ending 30 June 2025. The above Company's securities will be traded and quoted "Ex - Dividend” as from: 24 June 2025. The last date of lodgment: 25 June 2025. Date Payable: 24 July 2025. Reported Earnings • May 29
Third quarter 2025 earnings released: EPS: RM0.057 (vs RM0.059 in 3Q 2024) Third quarter 2025 results: EPS: RM0.057 (down from RM0.059 in 3Q 2024). Revenue: RM83.4m (up 4.8% from 3Q 2024). Net income: RM9.02m (down 3.6% from 3Q 2024). Profit margin: 11% (down from 12% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Reported Earnings • Feb 27
Second quarter 2025 earnings released: EPS: RM0.065 (vs RM0.057 in 2Q 2024) Second quarter 2025 results: EPS: RM0.065 (up from RM0.057 in 2Q 2024). Revenue: RM80.8m (up 22% from 2Q 2024). Net income: RM10.3m (up 14% from 2Q 2024). Profit margin: 13% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Dec 11
Upcoming dividend of RM0.04 per share Eligible shareholders must have bought the stock before 18 December 2024. Payment date: 17 January 2025. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Malaysian dividend payers (5.0%). Lower than average of industry peers (8.6%). Announcement • Nov 28
Yoong Onn Corporation Berhad Approves the Payment of Single Tier Final Dividend for the Financial Year Ended 30 June 2024 Yoong Onn Corporation Berhad at the AGM held on 28 November 2024, approved the payment of single tier final dividend 4.0 sen per ordinary share in respect of the financial year ended 30 June 2024. Reported Earnings • Nov 01
Full year 2024 earnings released: EPS: RM0.20 (vs RM0.24 in FY 2023) Full year 2024 results: EPS: RM0.20 (down from RM0.24 in FY 2023). Revenue: RM271.1m (up 3.3% from FY 2023). Net income: RM31.7m (down 17% from FY 2023). Profit margin: 12% (down from 14% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 19% per year. Declared Dividend • Oct 30
Final dividend of RM0.04 announced Dividend of RM0.04 is the same as last year. Ex-date: 18th December 2024 Payment date: 17th January 2025 Dividend yield will be 4.1%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 6.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Oct 29
Yoong Onn Corporation Berhad, Annual General Meeting, Nov 28, 2024 Yoong Onn Corporation Berhad, Annual General Meeting, Nov 28, 2024, at 10:00 Singapore Standard Time. Reported Earnings • Aug 30
Full year 2024 earnings released: EPS: RM0.20 (vs RM0.24 in FY 2023) Full year 2024 results: EPS: RM0.20 (down from RM0.24 in FY 2023). Revenue: RM271.1m (up 3.3% from FY 2023). Net income: RM31.5m (down 17% from FY 2023). Profit margin: 12% (down from 14% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 19% per year. Announcement • Aug 29
Yoong Onn Corporation Berhad Proposes Final Single Tier Tax-Exempt Dividend for the Financial Year Ended 30 June 2024 The Board of Directors of Yoong Onn Corporation Berhad announced that a Final Single Tier Tax-Exempt Dividend of 4.0 sen per share has been proposed in respect of the Company's financial year ended 30 June 2024. The proposed Final Single Tier Tax-Exempt Dividend will be subject to the shareholders' approval at the forthcoming Annual General Meeting of YOCB. Upcoming Dividend • Jun 19
Upcoming dividend of RM0.04 per share Eligible shareholders must have bought the stock before 26 June 2024. Payment date: 25 July 2024. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Malaysian dividend payers (4.5%). Higher than average of industry peers (3.0%). Reported Earnings • May 28
Third quarter 2024 earnings released: EPS: RM0.059 (vs RM0.075 in 3Q 2023) Third quarter 2024 results: EPS: RM0.059 (down from RM0.075 in 3Q 2023). Revenue: RM79.6m (up 14% from 3Q 2023). Net income: RM9.35m (down 21% from 3Q 2023). Profit margin: 12% (down from 17% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 26
Yoong Onn Corporation Berhad Declares Interim Single Tier Tax Exempt Dividend for the Financial Year Ending 30 June 2024, Payable on 25 July 2024 Yoong Onn Corporation Berhad declared interim single tier tax exempt dividend of 4 sen per ordinary share in respect of the financial year ending 30 June 2024, payable on 25 July 2024. Ex-Date 26 June 2024. Entitlement date of 27 June 2024. Declared Dividend • May 25
First half dividend increased to RM0.04 Dividend of RM0.04 is 14% higher than last year. Ex-date: 26th June 2024 Payment date: 25th July 2024 Dividend yield will be 3.2%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 4.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to RM2.55, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 10x in the Retail Distributors industry in Malaysia. Total returns to shareholders of 203% over the past three years. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to RM2.19, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 9x in the Retail Distributors industry in Malaysia. Total returns to shareholders of 152% over the past three years. Reported Earnings • Feb 28
Second quarter 2024 earnings released: EPS: RM0.057 (vs RM0.062 in 2Q 2023) Second quarter 2024 results: EPS: RM0.057 (down from RM0.062 in 2Q 2023). Revenue: RM66.4m (down 7.7% from 2Q 2023). Net income: RM9.09m (down 7.4% from 2Q 2023). Profit margin: 14% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 23% per year. Upcoming Dividend • Dec 13
Upcoming dividend of RM0.04 per share at 4.6% yield Eligible shareholders must have bought the stock before 20 December 2023. Payment date: 18 January 2024. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of Malaysian dividend payers (5.1%). Higher than average of industry peers (2.4%). Upcoming Dividend • Dec 13
Upcoming dividend of RM0.04 per share at 4.6% yield Eligible shareholders must have bought the stock before 20 December 2023. Payment date: 18 January 2024. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of Malaysian dividend payers (5.1%). Higher than average of industry peers (2.4%). Announcement • Nov 24
Yoong Onn Corporation Berhad Approves Single Tier Final Dividend for the Financial Year Ended 30 June 2023 Yoong Onn Corporation Berhad approved the payment of single tier final dividend 4.0 sen per ordinary share in respect of the financial year ended 30 June 2023, at the AGM held on 23 November 2023. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to RM1.88, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 9x in the Retail Distributors industry in Malaysia. Total returns to shareholders of 179% over the past three years. Announcement • Nov 04
Yoong Onn Corporation Berhad (KLSE:YOCB) agreed to acquire 60% stake in T.C. HOMEPLUS PTE LTD from Wong Fun Ngian, Wong Fun Foong, Ang Teng Poh and Lim Ting Han, Eddie for SGD11 million. Yoong Onn Corporation Berhad (KLSE:YOCB) agreed to acquire 60% stake in T.C. HOMEPLUS PTE LTD from Wong Fun Ngian, Wong Fun Foong, Ang Teng Poh and Lim Ting Han, Eddie for SGD11 million on November 2, 2023. The Proposed Acquisition will be satisfied via internally generated funds. The Board expects the Proposed Acquisition to be completed in the fourth quarter of 2023. UOBKH has been appointed by Yoong Onn Corporation Berhad to act as the Adviser for the Proposed Acquisition. Reported Earnings • Oct 27
Full year 2023 earnings released: EPS: RM0.24 (vs RM0.21 in FY 2022) Full year 2023 results: EPS: RM0.24 (up from RM0.21 in FY 2022). Revenue: RM262.5m (up 15% from FY 2022). Net income: RM38.1m (up 12% from FY 2022). Profit margin: 14% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Sep 26
Yoong Onn Corporation Berhad Announces Redesignation of Tan Sri Datuk Seri Dr. Suleiman Bin Mohamed from Independent and Non Executive Director to Independent and Non Executive Chairman Yoong Onn Corporation Berhad announced redesignation of Tan Sri Datuk Seri Dr. Suleiman Bin Mohamed from Independent and Non Executive Director to Independent and Non Executive Chairman. Date of change is June 1, 2023. Age is 76. Board Change • Sep 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Non-Executive Director Chong Yeoh was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 25
Full year 2023 earnings released: EPS: RM0.24 (vs RM0.21 in FY 2022) Full year 2023 results: EPS: RM0.24 (up from RM0.21 in FY 2022). Revenue: RM262.5m (up 15% from FY 2022). Net income: RM38.1m (up 12% from FY 2022). Profit margin: 14% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 20
Upcoming dividend of RM0.035 per share at 5.2% yield Eligible shareholders must have bought the stock before 27 June 2023. Payment date: 25 July 2023. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 5.2%. Lower than top quartile of Malaysian dividend payers (5.4%). Lower than average of industry peers (10%). Reported Earnings • May 27
Third quarter 2023 earnings released: EPS: RM0.075 (vs RM0.063 in 3Q 2022) Third quarter 2023 results: EPS: RM0.075 (up from RM0.063 in 3Q 2022). Revenue: RM69.8m (up 8.5% from 3Q 2022). Net income: RM11.9m (up 19% from 3Q 2022). Profit margin: 17% (up from 16% in 3Q 2022). The increase in margin was driven by higher revenue. 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 30% per year, which means it is significantly lagging earnings growth. Announcement • May 27
Yoong Onn Corporation Berhad Announces the Appointment Mr. Fung Kam Foo as Independent and Non Executive Non Executive Director Yoong Onn Corporation Berhad announced the appointment MR FUNG KAM FOO as Independent and Non Executive Non Executive Director. Date of change: 25 May 2023. Age: 59. Gender:Male. Qualifications: Degree, Computer Science and Business Administration, University of Guelph (Ontaria, Canada). Working experience and occupation: Alan has over 35 years working experience in the tech industry across different disciplines in sales, product management, event management, marketing & promotions, industry development, leadership and management roles. He is highly resourceful, innovative (constantly seeking to push boundaries) and entrepreneurial. He has deep industry and organizational insights with wide network of contacts through stints in various companies (MNC, SMEs and Start-Ups) and types (Commercial, Govt-linked & industry association). He is also a certified Coach & a Mentor and Board Member of 3 PLCs on BursaKL with strong business acumen and proven track record in achieving commercial objectives. His credentials include coaching and mentoring high growth tech companies in MDEC since 2015, Start-ups in Cradle Coach & Grow Program (2017), tech companies in MDEC GAIN Mentor+ and Cradles MyStartUp program, young working adults under MaGIC and MyStep program and pro-bono coaching among selected young people. He holds a B Sc.(Hons) Degree majoring in Computing Science from U. of Guelph, Ontario Canada. Reported Earnings • Feb 25
Second quarter 2023 earnings released: EPS: RM0.062 (vs RM0.072 in 2Q 2022) Second quarter 2023 results: EPS: RM0.062 (down from RM0.072 in 2Q 2022). Revenue: RM72.0m (flat on 2Q 2022). Net income: RM9.81m (down 14% from 2Q 2022). Profit margin: 14% (down from 16% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 14
Upcoming dividend of RM0.03 per share Eligible shareholders must have bought the stock before 21 December 2022. Payment date: 19 January 2023. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 5.0%. Within top quartile of Malaysian dividend payers (5.0%). Lower than average of industry peers (6.5%). Reported Earnings • Nov 23
First quarter 2023 earnings released: EPS: RM0.05 (vs RM0.006 in 1Q 2022) First quarter 2023 results: EPS: RM0.05 (up from RM0.006 in 1Q 2022). Revenue: RM61.9m (up 180% from 1Q 2022). Net income: RM7.87m (up RM6.87m from 1Q 2022). Profit margin: 13% (up from 4.5% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. 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. No experienced directors. 6 highly experienced directors. Independent Non-Executive Chairman Kamaludin Bin Yusoff was the last director to join the board, commencing their role in 2009. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 23
Full year 2022 earnings released: EPS: RM0.21 (vs RM0.15 in FY 2021) Full year 2022 results: EPS: RM0.21 (up from RM0.15 in FY 2021). Revenue: RM228.0m (up 11% from FY 2021). Net income: RM33.9m (up 47% from FY 2021). Profit margin: 15% (up from 11% 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 17% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 17
Now 24% undervalued Over the last 90 days, the stock is up 10.0%. The fair value is estimated to be RM1.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.4% over the last 3 years. Earnings per share has grown by 17%.