Excel Force MSC Bhd
Excel Force MSC Berhad, together with its subsidiaries, develops, provides, and maintains software application solutions for the financial services industry in Malaysia. The company operates in four segments: Application Solutions, Maintenance Services, Application Services Provider, and Other segments. Its product portfolio includes CyberBroker Front Office for client-server, web, and mobile-bas… Read more
Excel Force MSC Bhd (0065) - Net Assets
Latest net assets as of September 2025: RM126.72 Million MYR
Based on the latest financial reports, Excel Force MSC Bhd (0065) has net assets worth RM126.72 Million MYR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM143.12 Million) and total liabilities (RM16.39 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | RM126.72 Million |
| % of Total Assets | 88.55% |
| Annual Growth Rate | 17.64% |
| 5-Year Change | 35.17% |
| 10-Year Change | 182.4% |
| Growth Volatility | 52.1 |
Excel Force MSC Bhd - Net Assets Trend (2003–2024)
This chart illustrates how Excel Force MSC Bhd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Excel Force MSC Bhd (2003–2024)
The table below shows the annual net assets of Excel Force MSC Bhd from 2003 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | RM125.52 Million | -2.04% |
| 2023-12-31 | RM128.13 Million | +32.24% |
| 2022-12-31 | RM96.90 Million | -4.70% |
| 2021-12-31 | RM101.67 Million | +9.49% |
| 2020-12-31 | RM92.86 Million | -3.74% |
| 2019-12-31 | RM96.47 Million | +104.37% |
| 2018-12-31 | RM47.20 Million | +1.35% |
| 2017-12-31 | RM46.57 Million | +2.54% |
| 2016-12-31 | RM45.42 Million | +2.19% |
| 2015-12-31 | RM44.45 Million | +3.17% |
| 2014-12-31 | RM43.08 Million | +10.06% |
| 2013-12-31 | RM39.14 Million | -2.96% |
| 2012-12-31 | RM40.34 Million | +6.87% |
| 2011-12-31 | RM37.74 Million | +5.33% |
| 2010-12-31 | RM35.83 Million | +25.61% |
| 2009-12-31 | RM28.53 Million | +23.16% |
| 2008-12-31 | RM23.16 Million | +10.97% |
| 2007-12-31 | RM20.87 Million | +41.87% |
| 2006-12-31 | RM14.71 Million | +2.05% |
| 2005-12-31 | RM14.42 Million | +4.88% |
| 2004-12-31 | RM13.75 Million | +231.85% |
| 2003-12-31 | RM4.14 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Excel Force MSC Bhd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1054.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM29.35 Million | 23.38% |
| Common Stock | RM98.09 Million | 78.15% |
| Total Equity | RM125.52 Million | 100.00% |
Excel Force MSC Bhd Competitors by Market Cap
The table below lists competitors of Excel Force MSC Bhd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
An Pha Petroleum Group JSC
VN:ASP
|
$7.15 Million |
|
Kantone Holdings Limited
PINK:KTHGF
|
$7.15 Million |
|
NICAN Limited
V:NICN
|
$7.16 Million |
|
Ornsirin Holding Public
BK:ORN
|
$7.16 Million |
|
Zhong Yuan Bio-Technology Holdings Limited
PINK:ZHYBF
|
$7.15 Million |
|
Tsky Co.,Ltd
TWO:6784
|
$7.15 Million |
|
Alset Ehome International Inc
NASDAQ:AEI
|
$7.15 Million |
|
Kirkstone Metals Corp.
V:KSM
|
$7.14 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Excel Force MSC Bhd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 128,131,930 to 125,517,161, a change of -2,614,769 (-2.0%).
- Net income of 5,074,727 contributed positively to equity growth.
- Dividend payments of 3,049,392 reduced retained earnings.
- Other factors decreased equity by 4,640,104.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM5.07 Million | +4.04% |
| Dividends Paid | RM3.05 Million | -2.43% |
| Other Changes | RM-4.64 Million | -3.7% |
| Total Change | RM- | -2.04% |
Book Value vs Market Value Analysis
This analysis compares Excel Force MSC Bhd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.85x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 15.21x to 0.85x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2003-12-31 | RM0.01 | RM0.18 | x |
| 2004-12-31 | RM0.04 | RM0.18 | x |
| 2005-12-31 | RM0.04 | RM0.18 | x |
| 2006-12-31 | RM0.06 | RM0.18 | x |
| 2007-12-31 | RM0.08 | RM0.18 | x |
| 2008-12-31 | RM0.09 | RM0.18 | x |
| 2009-12-31 | RM0.12 | RM0.18 | x |
| 2010-12-31 | RM0.09 | RM0.18 | x |
| 2011-12-31 | RM0.09 | RM0.18 | x |
| 2012-12-31 | RM0.10 | RM0.18 | x |
| 2013-12-31 | RM0.09 | RM0.18 | x |
| 2014-12-31 | RM0.10 | RM0.18 | x |
| 2015-12-31 | RM0.11 | RM0.18 | x |
| 2016-12-31 | RM0.08 | RM0.18 | x |
| 2017-12-31 | RM0.08 | RM0.18 | x |
| 2018-12-31 | RM0.08 | RM0.18 | x |
| 2019-12-31 | RM0.21 | RM0.18 | x |
| 2020-12-31 | RM0.17 | RM0.18 | x |
| 2021-12-31 | RM0.18 | RM0.18 | x |
| 2022-12-31 | RM0.17 | RM0.18 | x |
| 2023-12-31 | RM0.22 | RM0.18 | x |
| 2024-12-31 | RM0.21 | RM0.18 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Excel Force MSC Bhd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 4.04%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 18.53%
- • Asset Turnover: 0.19x
- • Equity Multiplier: 1.13x
- Recent ROE (4.04%) is below the historical average (15.20%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 36.54% | 46.57% | 0.67x | 1.18x | RM1.10 Million |
| 2004 | 11.05% | 35.34% | 0.29x | 1.08x | RM144.84K |
| 2005 | 12.97% | 37.00% | 0.34x | 1.03x | RM428.69K |
| 2006 | 12.89% | 34.65% | 0.34x | 1.08x | RM424.58K |
| 2007 | 28.01% | 49.19% | 0.55x | 1.03x | RM3.76 Million |
| 2008 | 22.58% | 45.41% | 0.44x | 1.13x | RM2.91 Million |
| 2009 | 21.57% | 50.79% | 0.40x | 1.06x | RM3.30 Million |
| 2010 | 14.96% | 40.07% | 0.35x | 1.07x | RM1.78 Million |
| 2011 | 16.00% | 37.62% | 0.37x | 1.16x | RM2.27 Million |
| 2012 | 13.02% | 28.65% | 0.39x | 1.17x | RM1.22 Million |
| 2013 | 17.89% | 33.94% | 0.47x | 1.11x | RM3.09 Million |
| 2014 | 20.26% | 39.44% | 0.40x | 1.28x | RM4.37 Million |
| 2015 | 17.19% | 29.87% | 0.46x | 1.25x | RM3.16 Million |
| 2016 | 12.37% | 25.05% | 0.42x | 1.17x | RM1.08 Million |
| 2017 | 13.58% | 27.59% | 0.42x | 1.17x | RM1.67 Million |
| 2018 | 14.10% | 29.02% | 0.39x | 1.24x | RM1.94 Million |
| 2019 | 6.71% | 28.18% | 0.23x | 1.05x | RM-3.18 Million |
| 2020 | 11.59% | 34.30% | 0.31x | 1.10x | RM1.48 Million |
| 2021 | 12.18% | 33.02% | 0.34x | 1.09x | RM2.21 Million |
| 2022 | 8.34% | 27.94% | 0.27x | 1.11x | RM-1.61 Million |
| 2023 | 6.46% | 28.54% | 0.20x | 1.16x | RM-4.53 Million |
| 2024 | 4.04% | 18.53% | 0.19x | 1.13x | RM-7.48 Million |
Industry Comparison
This section compares Excel Force MSC Bhd's net assets metrics with peer companies in the Software - Application industry.
Industry Context
- Industry: Software - Application
- Average net assets among peers: $117,416,248
- Average return on equity (ROE) among peers: -28.33%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Excel Force MSC Bhd (0065) | RM126.72 Million | 36.54% | 0.13x | $7.15 Million |
| IFCA MSC Bhd (0023) | $106.07 Million | 0.49% | 0.34x | $14.69 Million |
| Nova MSC Bhd (0026) | $46.59 Million | 1.10% | 0.26x | $10.03 Million |
| MMAG Holdings Bhd (0034) | $376.25 Million | -6.02% | 1.13x | $960.62K |
| Systech Bhd (0050) | $51.31 Million | 0.86% | 0.24x | $10.69 Million |
| Cuscapi Berhad (0051) | $18.84 Million | -130.34% | 1.75x | $5.12 Million |
| N2N Connect Bhd (0108) | $284.73 Million | 6.19% | 0.08x | $10.60 Million |
| Appasia Bhd (0119) | $27.12 Million | 1.71% | 0.13x | $11.17 Million |
| DGB Asia Bhd (0152) | $130.71 Million | -16.79% | 0.86x | $838.97K |
| iDimension Consolidated Bhd (0174) | $15.11 Million | -112.15% | 0.73x | $566.90K |