Reported Earnings • May 28
First quarter 2026 earnings released: EPS: RM0.015 (vs RM0.072 in 1Q 2025) First quarter 2026 results: EPS: RM0.015 (down from RM0.072 in 1Q 2025). Revenue: RM112.1m (up 52% from 1Q 2025). Net income: RM2.45m (down 76% from 1Q 2025). Profit margin: 2.2% (down from 14% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. New Risk • May 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (49% accrual ratio). Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (RM226.5m market cap, or US$57.4m). Announcement • Apr 29
HeiTech Padu Berhad, Annual General Meeting, Jun 25, 2026 HeiTech Padu Berhad, Annual General Meeting, Jun 25, 2026, at 10:30 Singapore Standard Time. Location: ballroom 3, level 1, klgcc convention centre, 1a, jalan bukit kiara 1, bukit kiara, 60000 kuala lumpur, wilayah persekutuan kuala lumpur, Malaysia Announcement • Mar 06
HeiTech Padu Berhad has completed a Follow-on Equity Offering in the amount of MYR 36.89 million. HeiTech Padu Berhad has completed a Follow-on Equity Offering in the amount of MYR 36.89 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 23,800,000
Price\Range: MYR 1.55
Transaction Features: Subsequent Direct Listing Reported Earnings • Mar 01
Full year 2025 earnings released: EPS: RM0.17 (vs RM0.048 in FY 2024) Full year 2025 results: EPS: RM0.17 (up from RM0.048 in FY 2024). Revenue: RM619.4m (up 83% from FY 2024). Net income: RM22.8m (up 239% from FY 2024). Profit margin: 3.7% (up from 2.0% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Announcement • Feb 17
Heitech Padu Berhad Receives Writ of Summons in Shah Alam High Court The Board of Directors of HeiTech Padu Berhad announce that the Company, had on 12 February 2026 received a Writ of Summons and Statement of Claim, filed by Kayangan Cahaya Sdn Bhd (‘Plaintiff’) in Shah Alam High Court. The Plaintiff is claiming a sum of approximately MYR 5,077,756.97 in respect of the ‘Perjanjian Perkhidmatan Penyelenggaraan Bangunan’ dated 05 April 2024 (‘BMSA 2024’) and associated works. The Company has duly filed its Memorandum of Appearance. The Company disputes the claim and is in the process of reviewing the allegations with its solicitors. The Company intends to defend the suit. At this juncture, the Board is unable to reliably ascertain the financial impact of the suit pending the filing of the defence and further developments in the proceedings. No provision has been made at this stage, pending legal assessment. The Company will make further announcements as and when there are material developments in the above matter. Reported Earnings • Nov 26
Third quarter 2025 earnings released: EPS: RM0.003 (vs RM0.047 in 3Q 2024) Third quarter 2025 results: EPS: RM0.003 (down from RM0.047 in 3Q 2024). Revenue: RM75.6m (down 37% from 3Q 2024). Net income: RM473.0k (down 93% from 3Q 2024). Profit margin: 0.6% (down from 5.5% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. New Risk • Sep 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (43% accrual ratio). Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (RM334.1m market cap, or US$79.2m). Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to RM1.95, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 17x in the IT industry in Malaysia. Total returns to shareholders of 229% over the past three years. Board Change • Sep 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Sha'arin Bin Razali was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • Aug 31
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 42% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (42% accrual ratio). Minor Risk Market cap is less than US$100m (RM235.2m market cap, or US$55.7m). Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: RM0.073 (vs RM0.003 in 2Q 2024) Second quarter 2025 results: EPS: RM0.073 (up from RM0.003 in 2Q 2024). Revenue: RM85.5m (up 34% from 2Q 2024). Net income: RM8.09m (up RM7.64m from 2Q 2024). Profit margin: 9.5% (up from 0.7% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Announcement • Aug 27
HeiTech Padu Berhad has filed a Follow-on Equity Offering. HeiTech Padu Berhad has filed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 27,836,955
Transaction Features: Subsequent Direct Listing Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to RM1.75, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 18x in the IT industry in Malaysia. Total returns to shareholders of 164% over the past three years. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to RM1.66, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 18x in the IT industry in Malaysia. Total returns to shareholders of 98% over the past three years. Announcement • Jun 26
Heitech Padu Berhad Announces Retirement of Mohd Radzif Bin Mohd Yunus as Independent and Non Executive Director, Effective 25 June 2025 HeiTech Padu Berhad announced the retirement of Datuk Mohd Radzif Bin Mohd Yunus as an Independent Director, effective 25 June 2025. He is 66 years old. Directorate: Independent and Non-Executive. Reported Earnings • Jun 02
First quarter 2025 earnings released: EPS: RM0.09 (vs RM0.001 in 1Q 2024) First quarter 2025 results: EPS: RM0.09 (up from RM0.001 in 1Q 2024). Revenue: RM74.6m (up 20% from 1Q 2024). Net income: RM9.97m (up RM9.84m from 1Q 2024). Profit margin: 13% (up from 0.2% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Apr 29
HeiTech Padu Berhad, Annual General Meeting, Jun 25, 2025 HeiTech Padu Berhad, Annual General Meeting, Jun 25, 2025, at 10:30 Singapore Standard Time. Location: casuarina, level g, sime darby convention centre, 1a, jalan bukit kiara 1, bukit kiara, 60000 kuala lumpur, wilayah persekutuan kuala lumpur, Malaysia New Risk • Apr 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (35% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$100m (RM236.1m market cap, or US$52.6m). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to RM1.79, the stock trades at a trailing P/E ratio of 29.8x. Average trailing P/E is 21x in the IT industry in Malaysia. Total returns to shareholders of 53% over the past three years. Announcement • Mar 22
HeiTech Padu Berhad Announces Resignation of ENCIK HASRUL AZUAN BIN MOHD YUSOF as Chief Executive Officer HeiTech Padu Berhad announced the resignation of ENCIK HASRUL AZUAN BIN MOHD YUSOF as Chief Executive Officer to pursue other career opportunities. Age is 46. Date of change is 19 March 2025. Announcement • Feb 28
HeiTech Padu Berhad Announces Re-Designation of Dato' Sri Mohd Hilmey Bin Mohd Taib from the Position of Executive Deputy Chairman to Non-Independent Non-Executive Director/Founder and Advisor, Effective from 1 March 2025 HeiTech Padu Berhad announced re-designation of Dato' Sri Mohd Hilmey Bin Mohd Taib (age: 71) from Executive Deputy Chairman to Non-Independent Non-Executive Director /Founder and Advisor of the Company with effect from 1 March 2025. Reported Earnings • Feb 27
Full year 2024 earnings released: EPS: RM0.06 (vs RM0.071 in FY 2023) Full year 2024 results: EPS: RM0.06 (down from RM0.071 in FY 2023). Revenue: RM350.0m (up 26% from FY 2023). Net income: RM6.69m (down 6.6% from FY 2023). Profit margin: 1.9% (down from 2.6% 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 87% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 22
Third quarter 2024 earnings released: EPS: RM0.059 (vs RM0.014 loss in 3Q 2023) Third quarter 2024 results: EPS: RM0.059 (up from RM0.014 loss in 3Q 2023). Revenue: RM119.1m (up 86% from 3Q 2023). Net income: RM6.58m (up RM7.98m from 3Q 2023). Profit margin: 5.5% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to RM3.29, the stock trades at a trailing P/E ratio of 23.6x. Average trailing P/E is 28x in the IT industry in Malaysia. Total returns to shareholders of 170% over the past three years. Announcement • Oct 02
Heitech Padu Berhad Announces the Retirement of Tan Sri Dato' Sri Abi Musa Asa'ari Bin Mohamed Nor as Non Independent and Non Executive Chairman HeiTech Padu Berhad announced the retirement of TAN SRI DATO' SRI ABI MUSA ASA'ARI BIN MOHAMED NOR as Non Independent and Non Executive Chairman. Age is 75. Date of change is 02 October 2024. Degree of Bachelor of Economics (Hons) from University of Malaya. Masters in Master in Business Administration from University of Birmingham, United Kingdom. Doctorate of
PhD (Honorary) in Economic Management from Sultan Idris Education University. Tan Sri Dato' Sri Abi Musa Asa'ari bin Mohamed Nor started his career in the Malaysian Civil Service as Assistant Director in Public Service Department in 1973. He then served at the National Bureau of Investigation, National Institute of Public Administration and Petroleum Development Unit of the Prime Minister's Department before being appointed as the Deputy Budget Director in the Ministry of Finance in 1995. In 1998, he joined Federal Agriculture Marketing Authority (FAMA) as the Director General and subsequently as the Secretary General of the Ministry of Agriculture and Agrobased Industry from 2001 before retiring in 2006. Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to RM3.69, the stock trades at a trailing P/E ratio of 26.4x. Average trailing P/E is 27x in the IT industry in Malaysia. Total returns to shareholders of 191% over the past three years. Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to RM2.99, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 25x in the IT industry in Malaysia. Total returns to shareholders of 128% over the past three years. Reported Earnings • Aug 30
Second quarter 2024 earnings released: EPS: RM0.004 (vs RM0.045 loss in 2Q 2023) Second quarter 2024 results: EPS: RM0.004 (up from RM0.045 loss in 2Q 2023). Revenue: RM63.7m (up 13% from 2Q 2023). Net income: RM449.0k (up RM4.98m from 2Q 2023). Profit margin: 0.7% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to RM1.84, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 32x in the IT industry in Malaysia. Total returns to shareholders of 35% over the past three years. New Risk • Jun 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.1% 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 Debt is not well covered by operating cash flow (0.6% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Shareholders have been diluted in the past year (5.1% increase in shares outstanding). Market cap is less than US$100m (RM212.8m market cap, or US$45.1m). Reported Earnings • May 29
First quarter 2024 earnings released: EPS: RM0.001 (vs RM0.032 loss in 1Q 2023) First quarter 2024 results: EPS: RM0.001 (up from RM0.032 loss in 1Q 2023). Revenue: RM62.0m (down 14% from 1Q 2023). Net income: RM132.0k (up RM3.40m from 1Q 2023). Profit margin: 0.2% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 27
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to RM1.92, the stock trades at a trailing P/E ratio of 27.1x. Average trailing P/E is 26x in the IT industry in Malaysia. Total returns to shareholders of 61% over the past three years. Valuation Update With 7 Day Price Move • May 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to RM2.39, the stock trades at a trailing P/E ratio of 33.8x. Average trailing P/E is 26x in the IT industry in Malaysia. Total returns to shareholders of 87% over the past three years. Buy Or Sell Opportunity • May 08
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 101% to RM2.39. The fair value is estimated to be RM1.94, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.2% over the last 3 years. Meanwhile, the company has become profitable. Board Change • May 03
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 Jimmy Bin Abdullah was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to RM2.55, the stock trades at a trailing P/E ratio of 35.7x. Average trailing P/E is 22x in the IT industry in Malaysia. Total returns to shareholders of 71% over the past three years. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to RM1.89, the stock trades at a trailing P/E ratio of 26.5x. Average trailing P/E is 23x in the IT industry in Malaysia. Total returns to shareholders of 29% over the past three years. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to RM1.99, the stock trades at a trailing P/E ratio of 27.9x. Average trailing P/E is 22x in the IT industry in Malaysia. Total returns to shareholders of 29% over the past three years. New Risk • Feb 29
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 41% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks High level of debt (41% net debt to equity). Market cap is less than US$100m (RM151.8m market cap, or US$31.9m). Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: RM0.071 (vs RM0.097 loss in FY 2022) Full year 2023 results: EPS: RM0.071 (up from RM0.097 loss in FY 2022). Revenue: RM283.0m (down 4.5% from FY 2022). Net income: RM7.22m (up RM17.1m from FY 2022). Profit margin: 2.6% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Nov 29
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: RM64.0m (down 13% from 3Q 2022). Net loss: RM1.40m (loss narrowed 61% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. New Risk • Nov 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Malaysian stocks, typically moving 14% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risk Market cap is less than US$100m (RM101.2m market cap, or US$21.5m). Reported Earnings • Aug 31
Second quarter 2023 earnings released: RM0.045 loss per share (vs RM0.002 loss in 2Q 2022) Second quarter 2023 results: RM0.045 loss per share (further deteriorated from RM0.002 loss in 2Q 2022). Revenue: RM56.3m (down 19% from 2Q 2022). Net loss: RM4.53m (loss widened RM4.30m from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Announcement • Jul 23
Heitech Padu Berhad Announces the Update on Litigation The Board of Directors of HeiTech announced that HeiTech's solicitors had attended the Case Management held on 18th July 2023, and was informed that the Appellant's solicitors have filed their Records of Appeal. Both parties have been directed by the Court of Appeal to file their respective submissions by March 2024. The Court of Appeal has fixed the Hearing of the Appeal on 22nd April 2024. Reported Earnings • Jun 02
First quarter 2023 earnings released: RM0.032 loss per share (vs RM0.007 profit in 1Q 2022) First quarter 2023 results: RM0.032 loss per share (down from RM0.007 profit in 1Q 2022). Revenue: RM71.7m (down 9.2% from 1Q 2022). Net loss: RM3.26m (down RM3.93m from profit in 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 28
Full year 2022 earnings released: RM0.10 loss per share (vs RM0.16 loss in FY 2021) Full year 2022 results: RM0.10 loss per share (improved from RM0.16 loss in FY 2021). Revenue: RM296.7m (up 7.0% from FY 2021). Net loss: RM10.2m (loss narrowed 35% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Reported Earnings • Dec 03
Third quarter 2022 earnings released: RM0.035 loss per share (vs RM0.008 profit in 3Q 2021) Third quarter 2022 results: RM0.035 loss per share (down from RM0.008 profit in 3Q 2021). Revenue: RM73.3m (flat on 3Q 2021). Net loss: RM3.53m (down RM4.38m from profit in 3Q 2021). 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 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 30
Second quarter 2022 earnings released: RM0.002 loss per share (vs RM0.005 profit in 2Q 2021) Second quarter 2022 results: RM0.002 loss per share (down from RM0.005 profit in 2Q 2021). Revenue: RM69.3m (up 7.9% from 2Q 2021). Net loss: RM231.0k (down 151% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Buying Opportunity • Jul 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be RM1.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.1% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Jun 20
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be RM1.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.1% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jun 02
First quarter 2022 earnings released: EPS: RM0.007 (vs RM0.001 in 1Q 2021) First quarter 2022 results: EPS: RM0.007 (up from RM0.001 in 1Q 2021). Revenue: RM79.0m (up 7.6% from 1Q 2021). Net income: RM667.0k (up 360% from 1Q 2021). Profit margin: 0.8% (up from 0.2% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 02
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: RM0.15 loss per share (down from RM0.11 profit in FY 2020). Revenue: RM283.6m (down 13% from FY 2020). Net loss: RM15.3m (down 240% from profit in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improved over the past week After last week's 15% share price gain to RM1.21, the stock trades at a trailing P/E ratio of 35.7x. Average trailing P/E is 28x in the IT industry in Malaysia. Total returns to shareholders of 223% over the past three years. Board Change • Dec 06
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Hamzah Bin Mahmood was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Dec 01
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: RM0.008 (down from RM0.032 in 3Q 2020). Revenue: RM74.0m (down 27% from 3Q 2020). Net income: RM854.0k (down 73% from 3Q 2020). Profit margin: 1.2% (down from 3.1% in 3Q 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Executive Departure • Oct 08
Non Independent & Non Executive Director Jayakumar Panneer Selvam has left the company On the 1st of October, Jayakumar Panneer Selvam's tenure as Non Independent & Non Executive Director ended after 1.6 years in the role. We don't have any record of a personal shareholding under Jayakumar's name. Jayakumar is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.08 years. Announcement • Sep 09
Television Airtime Services Sdn Bhd completed the acquisition of additional 24% stake in DAPAT Vista (M) Sdn. Bhd. from HeiTech Padu Berhad (KLSE:HTPADU). Television Airtime Services Sdn Bhd agreed to acquire additional 24% stake in DAPAT Vista (M) Sdn. Bhd. from HeiTech Padu Berhad (KLSE:HTPADU) on July 23, 2021. Completion of the acquisition will see TAS increasing its ordinary shareholding to 80% while HeiTech becomes a 20% shareholder.
Television Airtime Services Sdn Bhd completed the acquisition of additional 24% stake in DAPAT Vista (M) Sdn. Bhd. from HeiTech Padu Berhad (KLSE:HTPADU) on September 8, 2021. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS RM0.005 (vs RM0.044 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: RM64.3m (down 21% from 2Q 2020). Net income: RM457.0k (down 90% from 2Q 2020). Profit margin: 0.7% (down from 5.6% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Announcement • Jul 23
Television Airtime Services Sdn Bhd agreed to acquire addtional 24% stake in DAPAT Vista (M) Sdn. Bhd. from HeiTech Padu Berhad (KLSE:HTPADU). Television Airtime Services Sdn Bhd agreed to acquire addtional 24% stake in DAPAT Vista (M) Sdn. Bhd. from HeiTech Padu Berhad (KLSE:HTPADU) on July 23, 2021. Completion of the acquisition will see TAS increasing its ordinary shareholding to 80% while HeiTech becomes a 20% shareholder. Reported Earnings • Jun 30
First quarter 2021 earnings released: EPS RM0.001 (vs RM0.013 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: RM73.5m (down 1.7% from 1Q 2020). Net income: RM145.0k (down 89% from 1Q 2020). Profit margin: 0.2% (down from 1.8% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 05
Full year 2020 earnings released: EPS RM0.11 (vs RM0.073 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: RM326.7m (down 9.5% from FY 2019). Net income: RM11.0m (up 48% from FY 2019). Profit margin: 3.4% (up from 2.1% in FY 2019). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improved over the past week After last week's 23% share price gain to RM1.50, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 16x in the IT industry in Malaysia. Total returns to shareholders of 173% over the past three years. Reported Earnings • Mar 26
Full year 2020 earnings released: EPS RM0.11 (vs RM0.073 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: RM339.5m (down 5.9% from FY 2019). Net income: RM11.0m (up 48% from FY 2019). Profit margin: 3.2% (up from 2.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth.