Announcement • Apr 24
VSTECS Berhad, Annual General Meeting, May 19, 2026 VSTECS Berhad, Annual General Meeting, May 19, 2026, at 10:30 Singapore Standard Time. Location: greens iii (sports wing), tropicana golf & country resort, jalan kelab tropicana, 47410 petaling jaya, selangor darul ehsan, Malaysia Upcoming Dividend • Apr 16
Upcoming dividend of RM0.08 per share Eligible shareholders must have bought the stock before 23 April 2026. Payment date: 19 May 2026. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Malaysian dividend payers (5.6%). Lower than average of industry peers (2.5%). Major Estimate Revision • Mar 06
Consensus revenue estimates increase by 13% The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from RM4.12b to RM4.65b. EPS estimate increased from RM0.308 to RM0.331 per share. Net income forecast to grow 20% next year vs 23% growth forecast for Electronic industry in Malaysia. Consensus price target up from RM5.60 to RM5.75. Share price rose 9.6% to RM4.91 over the past week. New Risk • Mar 03
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.2% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Risk High level of non-cash earnings (27% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Declared Dividend • Mar 01
Final dividend of RM0.08 announced Shareholders will receive a dividend of RM0.08. Ex-date: 23rd April 2026 Payment date: 19th May 2026 Dividend yield will be 2.4%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (29% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 27% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Board Change • Jan 01
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. 4 experienced directors. 2 highly experienced directors. Independent & Non-Executive Director Josephine Phan was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Dec 08
Upcoming dividend of RM0.028 per share Eligible shareholders must have bought the stock before 15 December 2025. Payment date: 07 January 2026. Payout ratio is a comfortable 29% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Malaysian dividend payers (5.5%). Lower than average of industry peers (2.3%). Declared Dividend • Nov 14
Dividend of RM0.028 announced Shareholders will receive a dividend of RM0.028. Ex-date: 15th December 2025 Payment date: 7th January 2026 Dividend yield will be 1.8%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (29% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.7% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 20% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Price Target Changed • Nov 04
Price target increased by 16% to RM5.10 Up from RM4.38, the current price target is provided by 1 analyst. New target price is 34% above last closing price of RM3.80. Stock is up 13% over the past year. The company is forecast to post earnings per share of RM0.24 for next year compared to RM0.20 last year. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: RM0.057 (vs RM0.043 in 2Q 2024) Second quarter 2025 results: EPS: RM0.057 (up from RM0.043 in 2Q 2024). Revenue: RM818.9m (up 31% from 2Q 2024). Net income: RM20.2m (up 32% from 2Q 2024). Profit margin: 2.5% (up from 2.4% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic 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 increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 17
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: RM0.20 (up from RM0.19 in FY 2023). Revenue: RM2.90b (up 6.4% from FY 2023). Net income: RM70.6m (up 4.7% from FY 2023). Profit margin: 2.4% (down from 2.5% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) also missed analyst estimates by 2.9%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic 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 increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 14
VSTECS Berhad, Annual General Meeting, May 13, 2025 VSTECS Berhad, Annual General Meeting, May 13, 2025, at 10:30 Singapore Standard Time. Location: greens iii (sports wing), tropicana golf & country resort, jalan kelab tropicana, 47410 petaling jaya, selangor darul ehsan, Malaysia Upcoming Dividend • Apr 14
Upcoming dividend of RM0.049 per share Eligible shareholders must have bought the stock before 21 April 2025. Payment date: 13 May 2025. Payout ratio is a comfortable 35% but the company is paying out more than the cash it is generating. Trailing yield: 2.5%. Lower than top quartile of Malaysian dividend payers (5.9%). In line with average of industry peers (2.5%). Declared Dividend • Feb 28
Final dividend increased to RM0.049 Dividend of RM0.049 is 20% higher than last year. Ex-date: 21st April 2025 Payment date: 13th May 2025 Dividend yield will be 2.4%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but not covered by cash flows (266% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 55% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 27
Full year 2024 earnings released: EPS: RM0.20 (vs RM0.19 in FY 2023) Full year 2024 results: EPS: RM0.20 (up from RM0.19 in FY 2023). Revenue: RM2.90b (up 6.4% from FY 2023). Net income: RM70.6m (up 4.7% from FY 2023). Profit margin: 2.4% (down from 2.5% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electronic 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 increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 26
VSTECS Berhad Announces Special Dividend for the Financial Year Ended 31 December 2024, Payable 13 May 2025 VSTECS Berhad announced a special dividend of MYR 0.0080 per share (single tier interim dividend) for the financial year ended 31 December 2024. Ex-Date is 21 April 2025, Entitlement date is 22 April 2025 and Payment Date 13 May 2025. The above special dividend is not taxable in the hands of shareholders. Upcoming Dividend • Dec 05
Upcoming dividend of RM0.028 per share Eligible shareholders must have bought the stock before 12 December 2024. Payment date: 09 January 2025. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Malaysian dividend payers (5.0%). In line with average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to RM3.82, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Electronic industry in Malaysia. Total returns to shareholders of 220% over the past three years. Declared Dividend • Nov 15
Dividend increased to RM0.028 Dividend of RM0.028 is 12% higher than last year. Ex-date: 12th December 2024 Payment date: 9th January 2025 Dividend yield will be 2.0%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to RM3.53, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Electronic industry in Malaysia. Total returns to shareholders of 194% over the past three years. Announcement • Aug 16
VSTECS Berhad to Report Q2, 2024 Results on Aug 14, 2024 VSTECS Berhad announced that they will report Q2, 2024 results on Aug 14, 2024 Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: RM0.043 (vs RM0.044 in 2Q 2023) Second quarter 2024 results: EPS: RM0.043 (down from RM0.044 in 2Q 2023). Revenue: RM624.4m (up 2.6% from 2Q 2023). Net income: RM15.2m (down 2.6% from 2Q 2023). Profit margin: 2.4% (down from 2.6% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic 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 increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to RM3.28, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 17x in the Electronic industry in Malaysia. Total returns to shareholders of 154% over the past three years. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: RM0.04 (vs RM0.042 in 1Q 2023) First quarter 2024 results: EPS: RM0.04 (down from RM0.042 in 1Q 2023). Revenue: RM616.4m (down 7.3% from 1Q 2023). Net income: RM14.3m (down 3.5% from 1Q 2023). Profit margin: 2.3% (up from 2.2% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 09
Investor sentiment improves as stock rises 38% After last week's 38% share price gain to RM3.58, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 17x in the Electronic industry in Malaysia. Total returns to shareholders of 226% over the past three years. Reported Earnings • Apr 18
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: RM0.19 (up from RM0.17 in FY 2022). Revenue: RM2.73b (down 1.6% from FY 2022). Net income: RM67.4m (up 13% from FY 2022). Profit margin: 2.5% (up from 2.2% in FY 2022). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 16
Upcoming dividend of RM0.041 per share Eligible shareholders must have bought the stock before 23 April 2024. Payment date: 16 May 2024. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Malaysian dividend payers (4.6%). Higher than average of industry peers (2.4%). Announcement • Apr 13
VSTECS Berhad, Annual General Meeting, May 14, 2024 VSTECS Berhad, Annual General Meeting, May 14, 2024, at 10:30 Singapore Standard Time. Agenda: To consider receive the Audited Financial Statements for the financial year ended 31 December 2023 together with the Reports of the Directors and the Auditors thereon;to consider re-elect the Directors;to consider re-appoint KPMG PLT as Auditors of the Company until the conclusion of the next AGM and to authorize the Directors to fix their remuneration;and to consider other matters. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to RM2.37, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Electronic industry in Malaysia. Total returns to shareholders of 122% over the past three years. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to RM1.77, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 16x in the Electronic industry in Malaysia. Total returns to shareholders of 68% over the past three years. Declared Dividend • Feb 29
Final dividend of RM0.041 announced Shareholders will receive a dividend of RM0.041. Ex-date: 23rd April 2024 Payment date: 16th May 2024 Dividend yield will be 4.0%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 8.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 11% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: RM0.19 (vs RM0.17 in FY 2022) Full year 2023 results: EPS: RM0.19 (up from RM0.17 in FY 2022). Revenue: RM2.73b (down 1.6% from FY 2022). Net income: RM67.4m (up 13% from FY 2022). Profit margin: 2.5% (up from 2.2% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Electronic industry in Malaysia. 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. New Risk • Dec 11
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: RM467.1m (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. 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. Market cap is less than US$100m (RM467.1m market cap, or US$99.8m). Upcoming Dividend • Dec 11
Upcoming dividend of RM0.025 per share at 4.7% yield Eligible shareholders must have bought the stock before 18 December 2023. Payment date: 12 January 2024. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Malaysian dividend payers (5.1%). Higher than average of industry peers (2.2%). Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: RM0.036 (vs RM0.046 in 3Q 2022) Third quarter 2023 results: EPS: RM0.036 (down from RM0.046 in 3Q 2022). Revenue: RM646.4m (down 12% from 3Q 2022). Net income: RM12.7m (down 23% from 3Q 2022). Profit margin: 2.0% (down from 2.2% in 3Q 2022). The decrease in margin was driven by lower revenue. 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 5% per year, which means it is significantly lagging earnings growth. New Risk • Oct 10
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: RM470.7m (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. 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. Market cap is less than US$100m (RM470.7m market cap, or US$99.5m). Announcement • Aug 18
VSTECS Berhad to Report Q2, 2023 Results on Aug 16, 2023 VSTECS Berhad announced that they will report Q2, 2023 results on Aug 16, 2023 Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: RM0.044 (vs RM0.036 in 2Q 2022) Second quarter 2023 results: EPS: RM0.044 (up from RM0.036 in 2Q 2022). Revenue: RM608.8m (down 14% from 2Q 2022). Net income: RM15.7m (up 20% from 2Q 2022). Profit margin: 2.6% (up from 1.8% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. New Risk • Jul 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: RM452.8m (US$97.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (dividend per share is over 7x cash flows per share). Market cap is less than US$100m (RM452.8m market cap, or US$97.0m). Announcement • May 18
VSTECS Berhad Announces the Redesignation of Khoo Sin Aik, Age 61, from Member of Nomination Committee to Chairman of Nomination Committee VSTECS Berhad announced the redesignation of KHOO SIN AIK, Age 61, from Member of Nomination Committee to Chairman of Nomination Committee. Directorate: Independent and Non Executive. Composition of Nomination Committee(Name and Directorate of members after change): Dato' Khoo Sin Aik - Chairman/Senior Independent Non-Executive Director, Mr. Ong Wei Hiam - Member/Non-Independent Non-Executive Director. Date of change is 17 May 2023. Reported Earnings • May 18
First quarter 2023 earnings released: EPS: RM0.042 (vs RM0.033 in 1Q 2022) First quarter 2023 results: EPS: RM0.042 (up from RM0.033 in 1Q 2022). Revenue: RM664.7m (up 3.3% from 1Q 2022). Net income: RM14.8m (up 25% from 1Q 2022). Profit margin: 2.2% (up from 1.8% 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 24% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 20
Upcoming dividend of RM0.037 per share at 4.5% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 16 May 2023. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of Malaysian dividend payers (5.3%). Higher than average of industry peers (3.1%). Reported Earnings • Apr 19
Full year 2022 earnings: Revenues miss analyst expectations Full year 2022 results: Revenue: RM2.77b (up 5.5% from FY 2021). Net income: RM59.7m (up 8.5% from FY 2021). Profit margin: 2.2% (in line with FY 2021). Revenue missed analyst estimates by 5.6%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Electronic industry in Malaysia. Reported Earnings • Feb 22
Full year 2022 earnings released: EPS: RM0.17 (vs RM0.15 in FY 2021) Full year 2022 results: EPS: RM0.17 (up from RM0.15 in FY 2021). Revenue: RM2.77b (up 5.5% from FY 2021). Net income: RM59.7m (up 8.5% from FY 2021). Profit margin: 2.2% (in line with FY 2021). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 23% per year. Announcement • Dec 31
VSTECS Berhad Appoints Anne Rodrigues Nee Koh Lan Heong, Date of Change Is 30 Dec. 2022 VSTECS Berhad appointed MADAM ANNE RODRIGUES NEE KOH LAN HEONG aged 72 yrs Independent and Non Executive Director experience Ms Anne Rodrigues has more than 35 years of work experience and her areas of expertise covers finance specifically in Accounting, Treasury, Corporate Finance, Internal Audit and Risk Management. She has also acquired varied expertise in Product Research and Product Planning as well as Contracts and Procurement. Ms Anne began her career with Federal Land Development Authority (FELDA) in 1973. From 1984 to 1997, she was seconded by FELDA to various companies and gained diverse financial, commercial and corporate experience in Malaysia International Shipping Corporation Berhad and Boustead Group. She returned to serve Felda Holdings Berhad as its Group Finance Director from 1998 to 2006 and Senior Executive Director (Finance) from 2006 to 2009. She was then appointed as the Group Chief Financial Officer, and subsequently Financial Advisor of Felda Global Ventures Holdings Berhad. Her last position was as Chief Financial Officer of TRT Holdings Inc. (a subsidiary of Felda Global Ventures Holdings Bhd based in Boston, USA) from September 2011 to 2012. Ms Anne has obtained a Certificate on Project Appraisal and Risk Management for Bankers from Harvard Institute for International Development and Institute of Banks Malaysia and has also completed a training program on Japanese Securities Business by Nomura Securities Co., Ltd, Japan. She had been a lecturer on International Finance and New Business Development for MBA programs offered by Master In Management/University of Bath (1995-1996) and KDU/University of Liverpool and Humberside UK (1996). She had been a regular speaker at local and international conferences related to Cash and Treasury Management and was a president of Malaysian Association of Corporate Treasurers (2012-2014). In 2018, she was appointed by the Minister of Finance as a member of the Financial Reporting Foundation, an independent body established under the Financial Reporting Act 1997. Masters in Master in Business Administration (MBA) from University of Bath and MBA with Distinction; Degree in Bachelor of Economics from University of Malaya, Class 1 Honours; Professional Qualification of Fellow from Association of Chartered Certified Accountants and Professional Qualification of Member from Malaysian Institute of Accountants. Date of change is 30 Dec. 2022. Upcoming Dividend • Dec 14
Upcoming dividend of RM0.025 per share Eligible shareholders must have bought the stock before 21 December 2022. Payment date: 18 January 2023. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 5.1%. Within top quartile of Malaysian dividend payers (5.0%). Higher than average of industry peers (3.2%). Reported Earnings • Nov 24
Third quarter 2022 earnings released: EPS: RM0.046 (vs RM0.035 in 3Q 2021) Third quarter 2022 results: EPS: RM0.046 (up from RM0.035 in 3Q 2021). Revenue: RM735.5m (up 17% from 3Q 2021). Net income: RM16.5m (up 32% from 3Q 2021). Profit margin: 2.2% (up from 2.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Nov 24
VSTECS Berhad Announces First Single Tier Interim Dividend, Payable on 18 Jan 2023 VSTECS Berhad announced first Single tier interim dividend of 2.5 sen per share for the financial year ending December 31, 2022. Ex-dividend date is 21 September 2022. Payment date is 18 Jan 2023. Entitlement date is 22 Dec 2022. Price Target Changed • Nov 16
Price target increased to RM1.64 Up from RM0.66, the current price target is provided by 1 analyst. New target price is 44% above last closing price of RM1.14. Stock is down 15% over the past year. The company is forecast to post earnings per share of RM0.17 for next year compared to RM0.15 last year. Announcement • Aug 25
VSTECS Berhad to Report Q2, 2022 Results on Aug 23, 2022 VSTECS Berhad announced that they will report Q2, 2022 results at 5:00 PM, Singapore Standard Time on Aug 23, 2022 Announcement • Aug 24
VSTECS Berhad Appoints Ong Wei Hiam as Non Independent and Non Executive Member of Remuneration Committee VSTECS Berhad appointed Ong Wei Hiam, aged 50, as Non Independent and Non Executive Member of Remuneration Committee effective August 23, 2022. Composition of Remuneration Committee (Name and Directorate of members after change): (a) Dato' Khoo Sin Aik - Chairman/Independent Non-Executive Director, (b) En. Abdul Aziz Bin Zainal Abidin - Member/Independent Non-Executive Director, (c) Mr. Ong Wei Hiam - Member/Non-Independent and Non-Executive Director. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: RM0.036 (vs RM0.028 in 2Q 2021) Second quarter 2022 results: EPS: RM0.036 (up from RM0.028 in 2Q 2021). Revenue: RM708.1m (up 26% from 2Q 2021). Net income: RM13.0m (up 32% from 2Q 2021). Profit margin: 1.8% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 28% per year and the company’s share price has also increased by 28% per year. Reported Earnings • May 19
First quarter 2022 earnings released First quarter 2022 results: Revenue: RM643.8m (down 3.8% from 1Q 2021). Net income: RM11.9m (down 6.7% from 1Q 2021). Profit margin: 1.8% (down from 1.9% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 32% per year. Announcement • Apr 19
VSTECS Berhad, Annual General Meeting, May 17, 2022 VSTECS Berhad, Annual General Meeting, May 17, 2022, at 02:30 Coordinated Universal Time. Location: Training Room, Vstecs Berhad, Lot 3, Jalan Teknologi 3/5, Taman Sains Selangor Kota Damansara, 47810 Petaling Jaya Selangor Malaysia Upcoming Dividend • Apr 13
Upcoming dividend of RM0.042 per share Eligible shareholders must have bought the stock before 20 April 2022. Payment date: 11 May 2022. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Malaysian dividend payers (4.4%). Higher than average of industry peers (3.5%). Announcement • Feb 25
VSTECS Berhad Announces Second Single Tier Interim Dividend, Payment Date is May 11, 2022 VSTECS Berhad announced Second Single tier interim dividend of 3.7 sen per share for the financial year ending December 31, 2021. Ex-dividend date is 20 April 2022. Payment date is 11 May 2022. Reported Earnings • Feb 24
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: RM0.15 (up from RM0.10 in FY 2020). Revenue: RM2.63b (up 30% from FY 2020). Net income: RM55.0m (up 50% from FY 2020). Profit margin: 2.1% (up from 1.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.9%. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 24
VSTECS Berhad Announces Special Dividend for the Year Ended December 31, 2021, Payable on May 11, 2022 VSTECS Berhad announced special dividend of 0.5 sen per share (single tier interim dividend) for the year ended December 31, 2021, payable on May 11, 2022. Ex-date is April 20, 2022 and Entitlement date is April 20, 2022. Announcement • Feb 17
VSTECS Berhad Appoints Madam Lee Marn Fong @ Wu Marn Fong as Non Independent and Non Executive Chairman VSTECS Berhad announced the appointment of Madam Lee Marn Fong @ Wu Marn Fong as Non Independent and Non Executive Chairman of the company with effect from February 16, 2022. Madam Lee Marn Fong has more than 25 years of experience in a multinational corporation group of companies with diversified business activities consisting of manufacturing of material handling equipment, engineering projects and services, trading of chemical, pharmaceutical, medical, consumer electronics and communications equipment. Executive Departure • Nov 29
Non-Independent & Non-Executive Chairman Sen Foo has left the company On the 18th of November, Sen Foo was replaced as CEO by Jan Soong. As of September 2021, Sen still personally held 812.40k shares (RM1.1m worth at the time). Sen is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 6.83 years. Executive Departure • Nov 29
Non-Independent & Non-Executive Chairman Sen Foo has left the company On the 18th of November, Sen Foo was replaced as CEO by Jan Soong. As of September 2021, Sen still personally held 812.40k shares (RM1.1m worth at the time). Sen is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 6.83 years. Executive Departure • Nov 29
Non-Independent & Non-Executive Chairman Sen Foo has left the company On the 18th of November, Sen Foo was replaced as CEO by Jan Soong. As of September 2021, Sen still personally held 812.40k shares (RM1.1m worth at the time). Sen is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 6.83 years. Executive Departure • Nov 28
Non-Independent & Non-Executive Chairman Sen Foo has left the company On the 18th of November, Sen Foo was replaced as CEO by Jan Soong. As of September 2021, Sen still personally held 812.40k shares (RM1.1m worth at the time). Sen is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 6.83 years. Executive Departure • Nov 28
Non-Independent & Non-Executive Chairman Sen Foo has left the company On the 18th of November, Sen Foo was replaced as CEO by Jan Soong. As of September 2021, Sen still personally held 812.40k shares (RM1.1m worth at the time). Sen is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 6.83 years. Executive Departure • Nov 28
Non-Independent & Non-Executive Chairman Sen Foo has left the company On the 18th of November, Sen Foo was replaced as CEO by Jan Soong. As of September 2021, Sen still personally held 812.40k shares (RM1.1m worth at the time). Sen is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 6.83 years. Executive Departure • Nov 28
Non-Independent & Non-Executive Chairman Sen Foo has left the company On the 18th of November, Sen Foo was replaced as CEO by Jan Soong. As of September 2021, Sen still personally held 812.40k shares (RM1.1m worth at the time). Sen is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 6.83 years. Executive Departure • Nov 28
Non-Independent & Non-Executive Chairman Sen Foo has left the company On the 18th of November, Sen Foo was replaced as CEO by Jan Soong. As of September 2021, Sen still personally held 812.40k shares (RM1.1m worth at the time). Sen is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 6.83 years. Executive Departure • Nov 28
Non-Independent & Non-Executive Chairman Sen Foo has left the company On the 18th of November, Sen Foo was replaced as CEO by Jan Soong. As of September 2021, Sen still personally held 812.40k shares (RM1.1m worth at the time). Sen is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 6.83 years. Executive Departure • Nov 28
Non-Independent & Non-Executive Chairman Sen Foo has left the company On the 18th of November, Sen Foo was replaced as CEO by Jan Soong. As of September 2021, Sen still personally held 812.40k shares (RM1.1m worth at the time). Sen is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 6.83 years. Executive Departure • Nov 28
Non-Independent & Non-Executive Chairman Sen Foo has left the company On the 18th of November, Sen Foo was replaced as CEO by Jan Soong. As of September 2021, Sen still personally held 812.40k shares (RM1.1m worth at the time). Sen is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 6.83 years.