KLSE:MISC

Stock Analysis Report

Executive Summary

MISC Berhad provides energy-related maritime solutions and services worldwide.


Snowflake Analysis

Excellent balance sheet with proven track record.


Similar Companies

Share Price & News

How has MISC Berhad's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MISC has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.1%

MISC

0.2%

MY Shipping

6.4%

MY Market


1 Year Return

12.0%

MISC

8.6%

MY Shipping

-22.0%

MY Market

Return vs Industry: MISC exceeded the MY Shipping industry which returned 8.6% over the past year.

Return vs Market: MISC exceeded the MY Market which returned -22% over the past year.


Shareholder returns

MISCIndustryMarket
7 Day-2.1%0.2%6.4%
30 Day-2.0%-3.4%-14.6%
90 Day-10.9%-12.3%-20.8%
1 Year17.1%12.0%13.3%8.6%-19.0%-22.0%
3 Year15.9%1.5%9.7%-3.3%-20.8%-30.4%
5 Year1.9%-17.1%-3.7%-21.1%-17.4%-32.0%

Price Volatility Vs. Market

How volatile is MISC Berhad's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is MISC Berhad undervalued compared to its fair value and its price relative to the market?

47.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MISC (MYR7.44) is trading below our estimate of fair value (MYR14.05)

Significantly Below Fair Value: MISC is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MISC is poor value based on its PE Ratio (23.3x) compared to the Shipping industry average (8.6x).

PE vs Market: MISC is poor value based on its PE Ratio (23.3x) compared to the MY market (10.7x).


Price to Earnings Growth Ratio

PEG Ratio: MISC is poor value based on its PEG Ratio (1.9x)


Price to Book Ratio

PB vs Industry: MISC is overvalued based on its PB Ratio (1x) compared to the MY Shipping industry average (0.5x).


Next Steps

Future Growth

How is MISC Berhad forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

12.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MISC's forecast earnings growth (12.2% per year) is above the savings rate (3.4%).

Earnings vs Market: MISC's earnings (12.2% per year) are forecast to grow faster than the MY market (9.7% per year).

High Growth Earnings: MISC's earnings are forecast to grow, but not significantly.

Revenue vs Market: MISC's revenue (6.2% per year) is forecast to grow faster than the MY market (5% per year).

High Growth Revenue: MISC's revenue (6.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MISC's Return on Equity is forecast to be low in 3 years time (5.9%).


Next Steps

Past Performance

How has MISC Berhad performed over the past 5 years?

-14.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MISC has high quality earnings.

Growing Profit Margin: MISC's current net profit margins (15.9%) are higher than last year (14.9%).


Past Earnings Growth Analysis

Earnings Trend: MISC's earnings have declined by -14.3% per year over the past 5 years.

Accelerating Growth: MISC's earnings growth over the past year (8.8%) exceeds its 5-year average (-14.3% per year).

Earnings vs Industry: MISC earnings growth over the past year (8.8%) exceeded the Shipping industry -3.8%.


Return on Equity

High ROE: MISC's Return on Equity (4%) is considered low.


Next Steps

Financial Health

How is MISC Berhad's financial position?


Financial Position Analysis

Short Term Liabilities: MISC's short term assets (MYR11.3B) exceed its short term liabilities (MYR7.8B).

Long Term Liabilities: MISC's short term assets (MYR11.3B) exceed its long term liabilities (MYR8.3B).


Debt to Equity History and Analysis

Debt Level: MISC's debt to equity ratio (35.4%) is considered satisfactory.

Reducing Debt: MISC's debt to equity ratio has increased from 30.3% to 35.4% over the past 5 years.

Debt Coverage: MISC's debt is well covered by operating cash flow (44%).

Interest Coverage: MISC's interest payments on its debt are well covered by EBIT (5.3x coverage).


Balance Sheet

Inventory Level: MISC has a high level of physical assets or inventory.

Debt Coverage by Assets: MISC's debt is not covered by short term assets (assets are 0.9x debt).


Next Steps

Dividend

What is MISC Berhad's current dividend yield, its reliability and sustainability?

4.03%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MISC's dividend (4.03%) is higher than the bottom 25% of dividend payers in the MY market (2.62%).

High Dividend: MISC's dividend (4.03%) is low compared to the top 25% of dividend payers in the MY market (7.06%).


Stability and Growth of Payments

Stable Dividend: MISC's dividend payments have been volatile in the past 10 years.

Growing Dividend: MISC's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (93.9%), MISC's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MISC's dividends in 3 years are forecast to be covered by earnings (62.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.2yrs

Average management tenure


CEO

Yang Yee (51yo)

5.17s

Tenure

Mr. Yang Chien Yee has been the Chief Executive Officer, President and Executive Director of MISC Berhad since January 1, 2015. Mr. Yee served as Vice President of Corporate Planning and Development at MIS ...


CEO Compensation Analysis

Compensation vs Market: Yang's total compensation ($USD0.00) is below average for companies of similar size in the MY market ($USD1.04M).

Compensation vs Earnings: Insufficient data to compare Yang's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Yang Yee
President5.17yrsno datano data
Raja Azlan Bin Raja Azwa
Chief Financial Officer0.83yrno datano data
Noridah Binti Khamis
GM of Legalno datano datano data
Ausmal Bin Kardin
VP of Legal0.17yrno datano data
Iwan bin Mokhtar
Vice President of Human Resources Management10.83yrsno datano data
Rozainah Binti Awang
General Manager of CPDno datano datano data
Eslin Halimi
Head of Financial Reportingno datano datano data
Rajalingam Subramaniam
President & CEO of AET Tanker Holdings Sdn. Bhd4.17yrsno datano data
Raja Muniandy
MD & CEO of Eaglestar Marine Holdings (L) Pte. Ltd.2.83yrsno datano data
Wan Binti Wan Abdullah Sani
MD and CEO of Malaysia Marine & Heavy Engineering Holdings Berhad3.17yrsno datano data

3.2yrs

Average Tenure

51yo

Average Age

Experienced Management: MISC's management team is considered experienced (3.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Yang Yee
President5.17yrsno datano data
Ab. bin Mohyiddin
Independent Chairman5.17yrsRM282.00kno data
Nasarudin Md Idris
Independent Non-Executive Director15.42yrsRM474.26kno data
Liza binti Mustapha
Non-Independent & Non-Executive Director2.67yrsRM193.50kno data
Beng Lim
Independent Non Executive Director7.58yrsRM220.42kno data
Rozalila Binti Abdul Rahman
Independent Non-Executive Director1.58yrsRM69.80kno data
Tengku Muhammad Bin Tengku Kamadjaja Aziz
Non-Independent Non-Executive Director1.25yrsRM22.00kno data
Sekhar Krishnan
Senior Independent Non-Executive Director2.58yrsRM191.71kno data
Mohd Bin Mohamed Yusof
Non-Independent & Non Executive Director2.25yrsRM176.00kno data

2.7yrs

Average Tenure

57yo

Average Age

Experienced Board: MISC's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

MISC Berhad's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MISC Berhad
  • Ticker: MISC
  • Exchange: KLSE
  • Founded: 1968
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: RM33.210b
  • Shares outstanding: 4.46b
  • Website: https://www.misc.com.my

Number of Employees


Location

  • MISC Berhad
  • Menara Dayabumi
  • Level 25
  • Kuala Lumpur
  • Wilayah Persekutuan
  • 50050
  • Malaysia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MIHD.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
MISCKLSE (Bursa Malaysia)YesOrdinary SharesMYMYRJan 1992

Biography

MISC Berhad provides energy-related maritime solutions and services worldwide. The company operates through LNG (liquefied natural gas), Petroleum, Offshore, Heavy Engineering, and Others segments. It owns and operates LNG carriers; petroleum tankers; and floating storage and offloading, mobile offshore production, and semi-submersible floating production systems, as well as floating production, storage, and offloading units. The company is also involved in the provision of marine and heavy engineering services, including engineering, procurement, construction, installation, and commissioning services for offshore and onshore construction; undertakes conversion works; and marine repair, refurbishment, upgradation, and life extension of vessels and rigs. In addition, it offers maritime education and training services for seamen and maritime personnel; port and terminal services; integrated marine services, such as fleet management and operation, crew management and manning, and dry-docking management services, as well as project management services for new build construction and conversion projects. Further, the company operates and manages the Sungai Udang Port; offers sludge disposal management and financing services; and owns properties. It operates a fleet of approximately 110 owned and in-chartered LNG, petroleum, and product vessels; 14 floating production systems; and 2 LNG floating storage units with a combined deadweight tonnage capacity of approximately 16 million tonnes. The company was incorporated in 1968 and is headquartered in Kuala Lumpur, Malaysia. MISC Berhad is a subsidiary of Petroliam Nasional Berhad. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 15:11
End of Day Share Price2020/03/31 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.