Declared Dividend • May 28
Dividend of RM0.0025 announced Shareholders will receive a dividend of RM0.0025. Ex-date: 10th June 2026 Payment date: 26th June 2026 Dividend yield will be 2.6%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (15% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has grown by 1.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 26
First quarter 2026 earnings released: EPS: RM0.002 (vs RM0.002 in 1Q 2025) First quarter 2026 results: EPS: RM0.002 (in line with 1Q 2025). Revenue: RM11.9m (up 49% from 1Q 2025). Net income: RM1.38m (flat on 1Q 2025). Profit margin: 12% (down from 17% in 1Q 2025). The decrease in margin was driven by higher expenses. Announcement • Apr 24
Panda Eco System Berhad, Annual General Meeting, May 25, 2026 Panda Eco System Berhad, Annual General Meeting, May 25, 2026, at 10:00 Singapore Standard Time. Location: ames hotel melaka, jalan pkak 2, pusat komersial ayer keroh, 75450 ayer keroh, melaka, Malaysia Reported Earnings • Feb 24
Full year 2025 earnings released: EPS: RM0.014 (vs RM0.012 in FY 2024) Full year 2025 results: EPS: RM0.014 (up from RM0.012 in FY 2024). Revenue: RM43.8m (up 41% from FY 2024). Net income: RM9.22m (up 14% from FY 2024). Profit margin: 21% (down from 26% in FY 2024). The decrease in margin was driven by higher expenses. New Risk • Feb 03
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 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.3% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (RM155.4m market cap, or US$39.4m). Announcement • Dec 20
Panda Eco System Berhad Declares First Interim Dividend for Financial Year Ended December 31, 2025, Payable on January 23, 2025 Panda Eco System Berhad declared First Interim Dividend of 0.25 sen per ordinary share for financial year ended December 31, 2025. Ex-Date is January 5, 2026. Entitlement date is January 6, 2025. Payment Date is January 23, 2025. Reported Earnings • Nov 26
Third quarter 2025 earnings released: EPS: RM0.004 (vs RM0.002 in 3Q 2024) Third quarter 2025 results: EPS: RM0.004 (up from RM0.002 in 3Q 2024). Revenue: RM11.9m (up 46% from 3Q 2024). Net income: RM2.72m (up 70% from 3Q 2024). Profit margin: 23% (up from 20% in 3Q 2024). The increase in margin was driven by higher revenue. Announcement • Nov 24
Panda Eco System Berhad Reports Property, Plant and Equipment Written Off for the Third Quarter Ended September 30, 2025 Panda Eco System Berhad reported Property, plant and equipment written off for the third quarter ended September 30, 2025. For the quarter, the company reported Property, plant and equipment written off of MYR 2,000 against MYR 7,000 a year ago. Buy Or Sell Opportunity • Nov 21
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 1.9% to RM0.27. The fair value is estimated to be RM0.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has declined by 14%. New Risk • May 28
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 26% 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 Earnings have declined by 6.1% per year over the past 5 years. High level of non-cash earnings (26% accrual ratio). Minor Risk Market cap is less than US$100m (RM198.0m market cap, or US$46.6m). Buy Or Sell Opportunity • May 02
Now 20% overvalued Over the last 90 days, the stock has fallen 9.0% to RM0.30. The fair value is estimated to be RM0.25, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 18%. Reported Earnings • May 01
Full year 2024 earnings released: EPS: RM0.012 (vs RM0.008 in FY 2023) Full year 2024 results: EPS: RM0.012 (up from RM0.008 in FY 2023). Revenue: RM31.2m (up 31% from FY 2023). Net income: RM8.08m (up 88% from FY 2023). Profit margin: 26% (up from 18% in FY 2023). The increase in margin was driven by higher revenue. Announcement • Apr 24
Panda Eco System Berhad, Annual General Meeting, May 26, 2025 Panda Eco System Berhad, Annual General Meeting, May 26, 2025, at 10:00 Singapore Standard Time. Location: ames hotel melaka, jalan pkak 2, pusat komersial ayer keroh, 75450 ayer keroh, melaka, Malaysia Reported Earnings • Feb 26
Full year 2024 earnings released: EPS: RM0.012 (vs RM0.008 in FY 2023) Full year 2024 results: EPS: RM0.012 (up from RM0.008 in FY 2023). Revenue: RM31.2m (up 31% from FY 2023). Net income: RM8.09m (up 88% from FY 2023). Profit margin: 26% (up from 18% in FY 2023). The increase in margin was driven by higher revenue. Reported Earnings • Nov 30
Third quarter 2024 earnings released: EPS: RM0.002 (vs RM0.003 in 3Q 2023) Third quarter 2024 results: EPS: RM0.002 (down from RM0.003 in 3Q 2023). Revenue: RM8.13m (up 49% from 3Q 2023). Net income: RM1.60m (down 10% from 3Q 2023). Profit margin: 20% (down from 33% in 3Q 2023). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: RM0.002 (vs RM0.002 in 2Q 2023) Second quarter 2024 results: EPS: RM0.002 (in line with 2Q 2023). Revenue: RM6.41m (up 19% from 2Q 2023). Net income: RM1.19m (down 13% from 2Q 2023). Profit margin: 19% (down from 25% in 2Q 2023). The decrease in margin was driven by higher expenses. Announcement • Aug 01
Panda Eco System Berhad Appoints Irene Ng Cha Rou as Principal Officer Panda Eco System Berhad announced the appointment of Miss. Irene Ng Cha Rou, aged 38 as Principal Officer of the company with effect from August 1, 2024. Qualifications: Professional Qualification in Accounting from Malaysian Institute of Accountants and from CPA Australia. Degree in Bachelor in Business (Major in Accounting and Financial Planning) from University of Technology, Sydney. Working experience and occupation: Cha Rou worked with Crowe Malaysia PLT as External Auditors in Audit and Assurance department for fifteen (15) years and her last position held was Senior Manager.
During her tenure at Crowe Malaysia PLT, she was primarily responsible to manage the portfolios on statutory audit for medium to large sized companies (including Public Listed Company) operating in various industry such as manufacturing, poultry farming, solar contractor, developer, contractor, trading, software developer, etc. She also involved in due diligence working group in connection with initial public offering for the admission to Bursa Malaysia Securities Berhad and the Stock Exchange of Hong Kong Limited. She left Crowe Malaysia PLT in July 2024. Reported Earnings • May 21
First quarter 2024 earnings released: EPS: RM0.004 (vs RM0.002 in 1Q 2023) First quarter 2024 results: EPS: RM0.004 (up from RM0.002 in 1Q 2023). Revenue: RM8.32m (up 54% from 1Q 2023). Net income: RM2.95m (up 115% from 1Q 2023). Profit margin: 35% (up from 25% in 1Q 2023). The increase in margin was driven by higher revenue. Announcement • May 02
Panda Eco System Berhad, Annual General Meeting, Jun 19, 2024 Panda Eco System Berhad, Annual General Meeting, Jun 19, 2024, at 10:00 Singapore Standard Time. Location: Ames Hotel Melaka, Jalan PKAK 2, Pusat Komersial Ayer Keroh 75450, Ayer Keroh, Melaka Ayer Keroh Melaka Malaysia Agenda: To consider and if thought fit pass the resolution to give effect to the Proposed RRPT Mandate. Board Change • Nov 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. CEO & Executive Director Chee Loo is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.