New Risk • 17h
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 8.2% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 97% Cash payout ratio: 266% Earnings have declined by 5.3% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (RM94.1m market cap, or US$23.2m). Reported Earnings • May 05
Second quarter 2026 earnings released: EPS: RM0.003 (vs RM0.002 in 2Q 2025) Second quarter 2026 results: EPS: RM0.003 (up from RM0.002 in 2Q 2025). Revenue: RM11.0m (up 81% from 2Q 2025). Net income: RM1.04m (up 20% from 2Q 2025). Profit margin: 9.4% (down from 14% in 2Q 2025). The decrease in margin was driven by higher expenses. Reported Earnings • Jan 31
First quarter 2026 earnings released: EPS: RM0.003 (vs RM0.005 loss in 1Q 2025) First quarter 2026 results: EPS: RM0.003 (up from RM0.005 loss in 1Q 2025). Revenue: RM5.05m (up 26% from 1Q 2025). Net income: RM1.13m (up RM3.28m from 1Q 2025). Profit margin: 22% (up from net loss in 1Q 2025). The move to profitability was primarily driven by lower expenses. Announcement • Dec 22
VETECE Holdings Berhad, Annual General Meeting, Jan 29, 2026 VETECE Holdings Berhad, Annual General Meeting, Jan 29, 2026, at 10:00 Singapore Standard Time. Location: kuala lumpur golf & country club (klgcc), 10, jalan 1/70d, off jalan bukit kiara, 60000 kuala lumpur, Malaysia New Risk • Dec 12
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 7.1% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 9.4% per year over the past 5 years. High level of non-cash earnings (21% accrual ratio). Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (9.8% average weekly change). Market cap is less than US$100m (RM90.2m market cap, or US$22.0m). New Risk • Nov 22
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 11% 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 Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 9.4% per year over the past 5 years. High level of non-cash earnings (21% accrual ratio). Minor Risk Market cap is less than US$100m (RM101.9m market cap, or US$24.6m). Reported Earnings • Oct 31
Full year 2025 earnings released: EPS: RM0.011 (vs RM0.018 in FY 2024) Full year 2025 results: EPS: RM0.011. Revenue: RM46.3m (up 138% from FY 2024). Net income: RM4.22m (up 301% from FY 2024). Profit margin: 9.1% (up from 5.4% in FY 2024). The increase in margin was driven by higher revenue. New Risk • Jul 31
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 39% 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 19% per year over the past 5 years. High level of non-cash earnings (39% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Profit margins are more than 30% lower than last year (3.6% net profit margin). Market cap is less than US$100m (RM88.2m market cap, or US$20.7m). New Risk • Jul 12
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended August 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 16% over the past year. Minor Risks Latest financial reports are more than 6 months old (reported August 2024 fiscal period end). Share price has been volatile over the past 3 months (9.8% average weekly change). Profit margins are more than 30% lower than last year (5.4% net profit margin). Revenue is less than US$5m (RM19m revenue, or US$4.6m). Market cap is less than US$100m (RM92.1m market cap, or US$21.7m). New Risk • Jun 16
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 12% 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 Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Revenue has declined by 16% over the past year. Minor Risks Profit margins are more than 30% lower than last year (5.4% net profit margin). Revenue is less than US$5m (RM19m revenue, or US$4.6m). Market cap is less than US$100m (RM98.0m market cap, or US$23.1m). Buy Or Sell Opportunity • May 02
Now 23% overvalued Over the last 90 days, the stock has fallen 29% to RM0.30. The fair value is estimated to be RM0.24, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 20%. Reported Earnings • Dec 29
Full year 2024 earnings released: EPS: RM0.018 (vs RM3.24 in FY 2023) Full year 2024 results: EPS: RM0.018 (down from RM3.24 in FY 2023). Revenue: RM19.4m (down 16% from FY 2023). Net income: RM1.05m (down 84% from FY 2023). Profit margin: 5.4% (down from 28% in FY 2023). The decrease in margin was primarily driven by lower revenue. Announcement • Dec 24
VETECE Holdings Berhad, Annual General Meeting, Feb 19, 2025 VETECE Holdings Berhad, Annual General Meeting, Feb 19, 2025, at 10:00 Singapore Standard Time. Location: zenith, level m1, the vertical connexion conference, & event centre, (ccec), no. 8, jalan kerinchi, bangsar south, 59200 kuala lumpur, Malaysia Buy Or Sell Opportunity • Nov 06
Now 32% overvalued The stock has been flat over the last 90 days, currently trading at RM0.47. The fair value is estimated to be RM0.35, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 20%. New Risk • Oct 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 56% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Revenue has declined by 16% over the past year. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.0% net profit margin). Revenue is less than US$5m (RM19m revenue, or US$4.5m). Market cap is less than US$100m (RM150.9m market cap, or US$34.8m). Reported Earnings • Oct 25
Full year 2024 earnings released: EPS: RM0.003 (vs RM3.24 in FY 2023) Full year 2024 results: EPS: RM0.003 (down from RM3.24 in FY 2023). Revenue: RM19.4m (down 16% from FY 2023). Net income: RM1.16m (down 82% from FY 2023). Profit margin: 6.0% (down from 28% in FY 2023). The decrease in margin was primarily driven by lower revenue. New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended August 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks Latest financial reports are more than 6 months old (reported August 2023 fiscal period end). Market cap is less than US$100m (RM147.0m market cap, or US$35.6m). Board Change • Aug 29
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 Wai Chan 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.