Tri-Mode System M Bhd (0199) - Net Assets
Based on the latest financial reports, Tri-Mode System M Bhd (0199) has net assets worth RM94.00 Million MYR (≈ $23.60 Million USD) as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM172.39 Million ≈ $43.28 Million USD) and total liabilities (RM78.39 Million ≈ $19.68 Million 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 how resilient are Tri-Mode System M Bhd's assets to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | RM94.00 Million |
| % of Total Assets | 54.53% |
| Annual Growth Rate | 15.9% |
| 5-Year Change | 23.47% |
| 10-Year Change | N/A |
| Growth Volatility | 31.96 |
Tri-Mode System M Bhd - Net Assets Trend (2016–2024)
This chart illustrates how Tri-Mode System M Bhd's net assets have evolved over time, based on quarterly financial data. Also explore Tri-Mode System M Bhd (0199) total assets for the complete picture of this company's asset base.
Annual Net Assets for Tri-Mode System M Bhd (2016–2024)
The table below shows the annual net assets of Tri-Mode System M Bhd from 2016 to 2024. For live valuation and market cap data, see Tri-Mode System M Bhd market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | RM93.63 Million ≈ $23.51 Million |
+1.05% |
| 2023-12-31 | RM92.65 Million ≈ $23.26 Million |
+1.56% |
| 2022-12-31 | RM91.23 Million ≈ $22.90 Million |
+10.61% |
| 2021-12-31 | RM82.48 Million ≈ $20.71 Million |
+8.77% |
| 2020-12-31 | RM75.83 Million ≈ $19.04 Million |
+5.39% |
| 2019-12-31 | RM71.95 Million ≈ $18.06 Million |
+2.42% |
| 2018-12-31 | RM70.25 Million ≈ $17.64 Million |
+102.10% |
| 2017-12-31 | RM34.76 Million ≈ $8.73 Million |
+20.85% |
| 2016-12-31 | RM28.76 Million ≈ $7.22 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Tri-Mode System M 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 147.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM51.67 Million | 55.19% |
| Common Stock | RM47.50 Million | 50.74% |
| Total Equity | RM93.63 Million | 100.00% |
Tri-Mode System M Bhd Competitors by Market Cap
The table below lists competitors of Tri-Mode System M Bhd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Nictus
JSE:NCS
|
$7.10 Million |
|
Meihua International Medical Technologies Co. Ltd.
NASDAQ:MHUAF
|
$7.10 Million |
|
Diamond Estates Wines & Spirits Inc
V:DWS
|
$7.11 Million |
|
Myseum, Inc.
NASDAQ:MYSE
|
$7.11 Million |
|
Allergy Therapeutics
LSE:AGY
|
$7.08 Million |
|
Fobi AI Inc
V:FOBI
|
$7.08 Million |
|
Vape Holdings Inc
NASDAQ:VAPE
|
$7.08 Million |
|
Lendway Inc.
NASDAQ:LDWY
|
$7.07 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tri-Mode System M Bhd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 92,649,480 to 93,626,700, a change of 977,220 (1.1%).
- Net income of 1,631,550 contributed positively to equity growth.
- Dividend payments of 1,162,000 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM1.63 Million | +1.74% |
| Dividends Paid | RM1.16 Million | -1.24% |
| Other Changes | RM507.67K | +0.54% |
| Total Change | RM- | 1.05% |
Book Value vs Market Value Analysis
This analysis compares Tri-Mode System M 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: 0.30x
- 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 0.73x to 0.30x 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 | RM0.23 | RM0.17 | x |
| 2017-12-31 | RM0.28 | RM0.17 | x |
| 2018-12-31 | RM0.42 | RM0.17 | x |
| 2019-12-31 | RM0.43 | RM0.17 | x |
| 2020-12-31 | RM0.46 | RM0.17 | x |
| 2021-12-31 | RM0.50 | RM0.17 | x |
| 2022-12-31 | RM0.55 | RM0.17 | x |
| 2023-12-31 | RM0.56 | RM0.17 | x |
| 2024-12-31 | RM0.56 | RM0.17 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tri-Mode System M 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): 1.74%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.85%
- • Asset Turnover: 0.49x
- • Equity Multiplier: 1.90x
- Recent ROE (1.74%) is below the historical average (8.25%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 16.23% | 6.54% | 0.96x | 2.59x | RM1.79 Million |
| 2017 | 17.25% | 7.01% | 1.04x | 2.36x | RM2.52 Million |
| 2018 | 5.21% | 4.28% | 0.79x | 1.53x | RM-3.36 Million |
| 2019 | 3.55% | 3.12% | 0.72x | 1.57x | RM-4.64 Million |
| 2020 | 7.30% | 6.64% | 0.68x | 1.62x | RM-2.05 Million |
| 2021 | 8.86% | 5.49% | 0.94x | 1.71x | RM-942.54K |
| 2022 | 11.48% | 8.40% | 0.82x | 1.66x | RM1.35 Million |
| 2023 | 2.66% | 3.52% | 0.42x | 1.82x | RM-6.80 Million |
| 2024 | 1.74% | 1.85% | 0.49x | 1.90x | RM-7.73 Million |
Industry Comparison
This section compares Tri-Mode System M Bhd's net assets metrics with peer companies in the Integrated Freight & Logistics industry.
Industry Context
- Industry: Integrated Freight & Logistics
- Average net assets among peers: $267,848,237
- Average return on equity (ROE) among peers: 15.81%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tri-Mode System M Bhd (0199) | RM94.00 Million | 16.23% | 0.83x | $7.09 Million |
| Ancom Logistics Bhd (0048) | $23.09 Million | -1.56% | 1.14x | $8.32 Million |
| GD Express Carrier Bhd (0078) | $141.36 Million | 20.02% | 0.34x | $179.61 Million |
| Straits Inter Logistics Bhd (0080) | $11.23 Million | 0.43% | 0.07x | $8.74 Million |
| KGW Group Berhad (0282) | $3.63 Million | 59.95% | 2.88x | $12.12 Million |
| AGX Group Berhad (0299) | $5.29 Million | 10.57% | 12.50x | $43.47 Million |
| Sin-Kung Logistics Berhad (0305) | $27.71 Million | 33.86% | 2.09x | $24.10 Million |
| Harbour Link Group Bhd (2062) | $347.22 Million | 8.25% | 0.75x | $143.10 Million |
| POS Malaysia&Services Holdings Bhd (4634) | $1.12 Billion | 5.66% | 0.68x | $60.92 Million |
| Tasco Bhd (5140) | $735.50 Million | 5.09% | 1.60x | $81.35 Million |
About Tri-Mode System M Bhd
Tri-Mode System (M) Berhad provides integrated logistics services in Malaysia and internationally. The company operates through Sea Freight; Container Haulage; Air Freight; Freights Forwarding; Warehousing; and Marine Insurance segments. It offers sea freight, container haulage, air freight, customs brokerage, project shipment, container depot operator, land transportation, fumigation, documents … Read more