Appasia Bhd (0119) - Net Assets
Based on the latest financial reports, Appasia Bhd (0119) has net assets worth RM44.50 Million MYR (≈ $11.17 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM46.71 Million ≈ $11.73 Million USD) and total liabilities (RM2.21 Million ≈ $556.11K USD). 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. Check 0119 tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | RM44.50 Million |
| % of Total Assets | 95.26% |
| Annual Growth Rate | 11.25% |
| 5-Year Change | 37.0% |
| 10-Year Change | N/A |
| Growth Volatility | 56.04 |
Appasia Bhd - Net Assets Trend (2015–2024)
This chart illustrates how Appasia Bhd's net assets have evolved over time, based on quarterly financial data. See Appasia Bhd liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Appasia Bhd (2015–2024)
The table below shows the annual net assets of Appasia Bhd from 2015 to 2024. For live valuation and market cap data, see 0119 stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | RM39.63 Million ≈ $9.95 Million |
+57.47% |
| 2023-12-31 | RM25.17 Million ≈ $6.32 Million |
+3.42% |
| 2022-12-31 | RM24.33 Million ≈ $6.11 Million |
+0.91% |
| 2021-12-31 | RM24.11 Million ≈ $6.05 Million |
-16.63% |
| 2020-12-31 | RM28.92 Million ≈ $7.26 Million |
+9.00% |
| 2019-12-31 | RM26.54 Million ≈ $6.66 Million |
-2.13% |
| 2018-12-31 | RM27.12 Million ≈ $6.81 Million |
+1.86% |
| 2017-12-31 | RM26.62 Million ≈ $6.68 Million |
+165.06% |
| 2016-12-31 | RM10.04 Million ≈ $2.52 Million |
-33.83% |
| 2015-12-31 | RM15.18 Million ≈ $3.81 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Appasia 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 60.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM6.46 Million | 16.30% |
| Common Stock | RM43.54 Million | 109.87% |
| Total Equity | RM39.63 Million | 100.00% |
Appasia Bhd Competitors by Market Cap
The table below lists competitors of Appasia Bhd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Microfriend Inc
KQ:147760
|
$39.82 Million |
|
UPA Corporation Bhd
KLSE:7757
|
$39.83 Million |
|
Rothwell International Co. Limited
KQ:900260
|
$39.86 Million |
|
HILONG HOLDING LTD HD-10
F:8HL
|
$39.87 Million |
|
M.J. International Co Ltd
TW:8466
|
$39.80 Million |
|
Rave Restaurant Group Inc
NASDAQ:RAVE
|
$39.79 Million |
|
Chia Ta World Co Ltd
TW:2033
|
$39.79 Million |
|
Creative Realities Inc
NASDAQ:CREX
|
$39.79 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Appasia Bhd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 25,165,180 to 39,627,770, a change of 14,462,590 (57.5%).
- Net income of 2,855,890 contributed positively to equity growth.
- Share repurchases of 11,434,470 reduced equity.
- New share issuances of 11,434,470 increased equity.
- Other factors increased equity by 11,606,700.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM2.86 Million | +7.21% |
| Share Repurchases | RM11.43 Million | -28.85% |
| Share Issuances | RM11.43 Million | +28.85% |
| Other Changes | RM11.61 Million | +29.29% |
| Total Change | RM- | 57.47% |
Book Value vs Market Value Analysis
This analysis compares Appasia 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: 3.98x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 9.75x to 3.98x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | RM0.01 | RM0.12 | x |
| 2017-12-31 | RM0.03 | RM0.12 | x |
| 2018-12-31 | RM0.03 | RM0.12 | x |
| 2019-12-31 | RM0.03 | RM0.12 | x |
| 2020-12-31 | RM0.03 | RM0.12 | x |
| 2021-12-31 | RM0.02 | RM0.12 | x |
| 2022-12-31 | RM0.02 | RM0.12 | x |
| 2023-12-31 | RM0.02 | RM0.12 | x |
| 2024-12-31 | RM0.03 | RM0.12 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Appasia 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): 7.21%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.41%
- • Asset Turnover: 0.72x
- • Equity Multiplier: 1.07x
- Recent ROE (7.21%) is above the historical average (-8.47%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | -34.12% | -51.41% | 0.58x | 1.14x | RM-6.70 Million |
| 2016 | -68.22% | -147.07% | 0.40x | 1.17x | RM-7.86 Million |
| 2017 | -1.56% | -0.29% | 1.13x | 4.74x | RM-3.08 Million |
| 2018 | 1.71% | 0.26% | 5.80x | 1.13x | RM-2.25 Million |
| 2019 | -0.99% | -0.29% | 2.91x | 1.18x | RM-2.92 Million |
| 2020 | 2.35% | 0.91% | 2.15x | 1.20x | RM-2.21 Million |
| 2021 | -1.33% | -0.50% | 2.15x | 1.25x | RM-2.73 Million |
| 2022 | 2.49% | 1.01% | 2.14x | 1.15x | RM-1.83 Million |
| 2023 | 7.72% | 8.53% | 0.80x | 1.13x | RM-574.03K |
| 2024 | 7.21% | 9.41% | 0.72x | 1.07x | RM-1.11 Million |
Industry Comparison
This section compares Appasia Bhd's net assets metrics with peer companies in the Software - Application industry.
Industry Context
- Industry: Software - Application
- Average net assets among peers: $83,930,272
- Average return on equity (ROE) among peers: -5.11%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Appasia Bhd (0119) | RM44.50 Million | -34.12% | 0.05x | $39.81 Million |
| IFCA MSC Bhd (0023) | $106.07 Million | 0.49% | 0.34x | $32.38 Million |
| Nova MSC Bhd (0026) | $44.04 Million | -46.38% | 0.79x | $27.03 Million |
| MMAG Holdings Bhd (0034) | $122.00 Million | -18.18% | 0.36x | $14.57 Million |
| Systech Bhd (0050) | $38.11 Million | 7.08% | 0.26x | $31.06 Million |
| Cuscapi Berhad (0051) | $57.01 Million | 6.74% | 0.18x | $20.16 Million |
| Excel Force MSC Bhd (0065) | $125.52 Million | 4.04% | 0.13x | $24.50 Million |
| N2N Connect Bhd (0108) | $178.39 Million | 6.58% | 0.07x | $43.45 Million |
| DGB Asia Bhd (0152) | $37.42 Million | 1.34% | 0.06x | $2.90 Million |
| iDimension Consolidated Bhd (0174) | $46.82 Million | -7.67% | 0.31x | $4.51 Million |
About Appasia Bhd
AppAsia Berhad, an investment holding company, engages in the e-commerce business in Malaysia and the United States. It operates through four segments: Digital Solutions, E-Commerce Business, Financial Services, and Others. The company involved in the research, development, and sale of IT security technology products; and provision of system maintenance, professional IT security, training, and ot… Read more