Duyuru • Apr 29
Annum Berhad, Annual General Meeting, Jun 23, 2025 Annum Berhad, Annual General Meeting, Jun 23, 2025, at 08:01 Singapore Standard Time. Location: sheraton imperial kuala lumpur hotel, jalan sultan ismail, 50250 kuala lumpur, Malaysia Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: RM0.024 (vs RM0.31 loss in FY 2023) Full year 2024 results: EPS: RM0.024 (up from RM0.31 loss in FY 2023). Revenue: RM72.7m (down 16% from FY 2023). Net income: RM5.42m (up RM64.7m from FY 2023). Profit margin: 7.5% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 38 percentage points per year, which is a significant difference in performance. New Risk • Aug 31
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -RM12m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-RM12m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 22% per year over the past 5 years. Market cap is less than US$10m (RM18.2m market cap, or US$4.21m). Minor Risk Revenue is less than US$5m (RM18m revenue, or US$4.2m). Reported Earnings • Jun 04
Third quarter 2024 earnings released: EPS: RM0.003 (vs RM0.41 loss in 3Q 2023) Third quarter 2024 results: EPS: RM0.003 (up from RM0.41 loss in 3Q 2023). Revenue: RM3.52m (down 57% from 3Q 2023). Net income: RM603.0k (up RM94.9m from 3Q 2023). Profit margin: 17% (up from net loss in 3Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 14 percentage points per year, which is a significant difference in performance. Duyuru • May 11
Annum Berhad, Annual General Meeting, Jun 21, 2024 Annum Berhad, Annual General Meeting, Jun 21, 2024, at 09:00 Singapore Standard Time. New Risk • May 09
New major risk - Revenue and earnings growth Earnings have declined by 3.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 3.6% per year over the past 5 years. Market cap is less than US$10m (RM19.3m market cap, or US$4.08m). New Risk • Oct 27
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 10% 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 (10% average weekly change). Shareholders have been substantially diluted in the past year (133% increase in shares outstanding). Market cap is less than US$10m (RM19.3m market cap, or US$4.05m). Duyuru • Oct 07
Annum Berhad Announces Resignation of Lim Oon Pin as Joint Secretary Annum Berhad announced resignation of Lim Oon Pin as Joint Secretary, effective October 6, 2023. Board Change • Oct 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Kevin Khor is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Sep 01
Full year 2023 earnings released: RM0.38 loss per share (vs RM0.73 profit in FY 2022) Full year 2023 results: RM0.38 loss per share (down from RM0.73 profit in FY 2022). Revenue: RM246.6m (down 25% from FY 2022). Net loss: RM47.2m (down 179% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. New Risk • Aug 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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 Risks High level of non-cash earnings (25% accrual ratio). Shareholders have been substantially diluted in the past year (133% increase in shares outstanding). Market cap is less than US$10m (RM38.7m market cap, or US$8.34m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Profit margins are more than 30% lower than last year (7.8% net profit margin). Duyuru • Aug 19
Annum Berhad Appoints CIK NOOR AMALINA BINTI ALI as Independent and Non Executive Director Annum Berhad announced the appointment of CIK NOOR AMALINA BINTI ALI, age 34 as Independent and Non Executive Director. Date of change is on August 18, 2023. Qualifications: Professional Qualification: Taxation in Chartered Tax Institute of Malaysia (CTIM); Professional Qualification: Accounting in Malaysian Institute of Accountants (MIA); Professional Qualification: Accounting in Association of Chartered Certified Accountants (ACCA). Working experience and occupation: Noor Amalina Binti Ali started her career as an Audit Junior with JF & S Consultancy in year 2011. She then joined Messrs. Zailan & Associates in August 2012 to practice corporate taxation and served a wide range of clients with diverse industries until August 2017. Subsequently, she joined PKF Malaysia as an Accounts Manager in September 2017 and also further exposed herself in both accounting and taxation practices in the professional firm, up to May 2020. She is currently operating Amalina Ali & Co, which is her own professional firm mainly providing accounting, payroll, taxation and company secretarial services. Board Change • Aug 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Kevin Khor is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Jul 15
Annum Berhad Appoints Dato' Baharon Bin Talib as Executive Director Annum Berhad announced appointment of Dato' Baharon Bin Talib as Executive Director to pursue other interest. Date of change is July 14, 2023. Age is 70. Dato' Baharon served as government servant for more than 30 years and held various positions in the government sector. Dato' Baharon started his career as an Assistant District Officer, State Secretarial Office, and also at the Ministry Level with the Federal Government. Dato' Baharon last position was the State Immigration Director of Sabah. Duyuru • Jul 07
Annum Berhad Announces Resignation of David Wong You King as Executive Director Annum Berhad announced resignation of MR DAVID WONG YOU KING as Executive Director to pursue other interest. Date of change is July 6, 2023. Age is 51. Reported Earnings • Feb 25
Full year 2022 earnings released: EPS: RM0.27 (vs RM0.77 in FY 2021) Full year 2022 results: EPS: RM0.27 (down from RM0.77 in FY 2021). Revenue: RM325.1m (up 23% from FY 2021). Net income: RM25.5m (down 55% from FY 2021). Profit margin: 7.8% (down from 22% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 26
Third quarter 2022 earnings released: EPS: RM0.044 (vs RM0.37 in 3Q 2021) Third quarter 2022 results: EPS: RM0.044 (down from RM0.37 in 3Q 2021). Revenue: RM83.2m (up 3.2% from 3Q 2021). Net income: RM4.26m (down 85% from 3Q 2021). Profit margin: 5.1% (down from 35% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Executive Director David Wong is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Aug 19
Second quarter 2022 earnings released: EPS: RM0.071 (vs RM0.10 in 2Q 2021) Second quarter 2022 results: EPS: RM0.071 (down from RM0.10 in 2Q 2021). Revenue: RM84.6m (up 110% from 2Q 2021). Net income: RM6.88m (down 13% from 2Q 2021). Profit margin: 8.1% (down from 20% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Board Change • Aug 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Executive Director David Wong is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Jul 16
Annum Berhad Announces Resignation of Encik Syed Amir Syakib Arsalan Bin Syed Ibrahim as Independent and Non Executive Director Annum Berhad announced resignation of Encik Syed Amir Syakib Arsalan Bin Syed Ibrahim as Independent and Non Executive Director. Age 48; Nationality Malaysia. Date of change is 13 July 2022. Reason is Pursuing other interest. Reported Earnings • May 21
First quarter 2022 earnings released: EPS: RM0.15 (vs RM0.11 in 1Q 2021) First quarter 2022 results: EPS: RM0.15 (up from RM0.11 in 1Q 2021). Revenue: RM66.4m (up 44% from 1Q 2021). Net income: RM11.5m (up 45% from 1Q 2021). Profit margin: 17% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Executive Director David Wong is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Feb 23
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: RM0.77 (up from RM0.041 in FY 2020). Revenue: RM264.5m (up RM222.2m from FY 2020). Net income: RM57.1m (up RM54.1m from FY 2020). Profit margin: 22% (up from 7.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 19
Third quarter 2021 earnings released: EPS RM0.37 (vs RM0.013 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: RM80.7m (up RM70.7m from 3Q 2020). Net income: RM28.0m (up RM28.9m from 3Q 2020). Profit margin: 35% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improved over the past week After last week's 19% share price gain to RM1.08, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 15x in the Forestry industry in Malaysia. Total returns to shareholders of 200% over the past three years. Executive Departure • Sep 07
Independent Non-Executive Chairman of the Board Mohd Bin Omar has left the company On the 30th of August, Mohd Bin Omar's tenure as Independent Non-Executive Chairman of the Board ended after 7.8 years in the role. We don't have any record of a personal shareholding under Mohd's name. A total of 6 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Aug 24
Second quarter 2021 earnings released: EPS RM0.10 (vs RM0.029 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: RM40.4m (up RM36.2m from 2Q 2020). Net income: RM7.87m (up RM9.98m from 2Q 2020). Profit margin: 20% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment deteriorated over the past week After last week's 18% share price decline to RM1.03, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 19x in the Forestry industry in Malaysia. Total returns to shareholders of 186% over the past three years. Executive Departure • May 27
Non-Independent Non-Executive Director has left the company On the 18th of May, Kai-Min Lin's tenure as Non-Independent Non-Executive Director ended after 17.5 years in the role. As of March 2021, Kai-Min personally held 2.23m shares (RM2.5m worth at the time). A total of 5 executives have left over the last 12 months. Reported Earnings • May 21
First quarter 2021 earnings released: EPS RM0.11 (vs RM0.032 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: RM46.1m (up 203% from 1Q 2020). Net income: RM7.98m (up RM10.3m from 1Q 2020). Profit margin: 17% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Executive Departure • May 13
Company Secretary has left the company On the 30th of April, - Vimalraj's tenure as Company Secretary ended after 1.5 years in the role. We don't have any record of a personal shareholding under -'s name. A total of 4 executives have left over the last 12 months. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improved over the past week After last week's 23% share price gain to RM1.30, the stock trades at a trailing P/E ratio of 24.1x. Average trailing P/E is 25x in the Forestry industry in Malaysia. Total returns to shareholders of 313% over the past three years. Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment deteriorated over the past week After last week's 15% share price decline to RM1.23, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 25x in the Forestry industry in Malaysia. Total returns to shareholders of 310% over the past three years. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorated over the past week After last week's 15% share price decline to RM1.12, the stock is trading at a trailing P/E ratio of 20.8x, down from the previous P/E ratio of 24.5x. This compares to an average P/E of 22x in the Forestry industry in Malaysia. Total returns to shareholders over the past three years are 261%. Reported Earnings • Mar 01
Full year 2020 earnings released: EPS RM0.054 (vs RM0.15 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: RM53.4m (up 15% from FY 2019). Net income: RM3.95m (up RM15.1m from FY 2019). Profit margin: 7.4% (up from net loss in FY 2019). The move to profitability was primarily driven by higher revenue. 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 60% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Dec 30
New 90-day high: RM1.25 The company is up 468% from its price of RM0.22 on 01 October 2020. The Malaysian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is up 25% over the same period. Duyuru • Dec 13
Zinton Sdn Bhd completed the acquisition of Poly-Ply Industries Sdn. Bhd from Cymao Holdings Berhad (KLSE:CYMAO). Zinton Sdn Bhd agreed to acquire Poly-Ply Industries Sdn. Bhd from Cymao Holdings Berhad (KLSE:CYMAO) for MYR 9.1 million on July 8, 2020. Post completion Poly-Ply will cease to be a wholly-owned subsidiary of Cymao. The purchase consideration shall be satisfied entirely in cash and paid as follows MYR 0.91 million, equivalent to 10% of the purchase consideration shall be payable upon the execution of the agreement, MYR 6.37 million, equivalent to 70% of the purchase consideration at the completion and the balance of MYR 1.8 million equivalent to 20% of the purchase consideration shall be payable to Cymao within a period of six months from the completion of the proposed disposal. If the amount is not paid in six months then Zinton will pay interest on the sum remaining unpaid at the rate of 8% per annum calculated on a day to day basis commencing from the day after the said six months until the date of full payment thereof. The proposed disposal is subject to Cymao’s shareholders’ resolution approving the proposed disposal in accordance with the requirements of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad at the EGM, Cymao’s directors’ resolution approving the proposed disposal and if required, in respect of all corporate guarantees which were given by Cymao in connection with PolyPly’s obligations as of the date of the agreement, the parties shall have procured that Cymao shall be fully released and discharged of all such corporate guarantees with effect before or by completion. The proceeds arising from the Proposed Disposal of MYR 9.1 million are intended to be utilized for capital expenditure, working capital, and for estimated expenses for the proposed disposal. As of December 31, 2019, Poly-Ply Industries Sdn. Bhd. has total assets MYR 12.2 million and net liabilities MYR 0.46 million. The transaction is expected to close on expected to be completed in the fourth quarter of year 2020. Sierac corporate advisers acted as independent fairness opinion provider to Cymao Holdings Berhad (KLSE:CYMAO).
Zinton Sdn Bhd completed the acquisition of Poly-Ply Industries Sdn. Bhd from Cymao Holdings Berhad (KLSE:CYMAO) on December 11, 2020. All the conditions of the transaction are met on December 4, 2020. Duyuru • Dec 12
Cymao Holdings Berhad Announces Redesignation of Lin, Kai-Min from Managing Director to Non-Executive Director Cymao Holdings Berhad announced redesignation of Mr. Lin, Kai-Min from Managing director to Non-Executive Director. Date of change is December 10, 2020. Is New 90 Day High Low • Dec 09
New 90-day high: RM0.63 The company is up 178% from its price of RM0.23 on 10 September 2020. The Malaysian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is up 21% over the same period. 
