TSA
TSA Group Berhad, an investment holding company, engages in the distribution and supply of ferrous and non-ferrous metal, and other industrial hardware products in Malaysia, Singapore, Bangladesh, Thailand, Indonesia, and internationally. It offers stainless steel ornamental round tubes, square and rectangular tubes, stainless steel 304 twisted tubes/pipes, stainless steel water pipes, and stainl… Read more
TSA (0297) - Net Assets
Latest net assets as of August 2025: RM188.34 Million MYR
Based on the latest financial reports, TSA (0297) has net assets worth RM188.34 Million MYR as of August 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM278.50 Million) and total liabilities (RM90.17 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 | RM188.34 Million |
| % of Total Assets | 67.62% |
| Annual Growth Rate | 11.12% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 13.42 |
TSA - Net Assets Trend (2020–2024)
This chart illustrates how TSA's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for TSA (2020–2024)
The table below shows the annual net assets of TSA from 2020 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-08-31 | RM184.54 Million | +29.11% |
| 2023-08-31 | RM142.93 Million | -4.74% |
| 2022-08-31 | RM150.04 Million | +20.23% |
| 2021-08-31 | RM124.79 Million | +3.08% |
| 2020-08-31 | RM121.06 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to TSA'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 decreased by 82.3% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (August 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM20.29 Million | 11.16% |
| Other Components | RM161.48 Million | 88.84% |
| Total Equity | RM181.76 Million | 100.00% |
TSA Competitors by Market Cap
The table below lists competitors of TSA ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Moving iMage Technologies Inc
NYSE MKT:MITQ
|
$3.80 Million |
|
Athabasca Minerals Inc
V:ABM
|
$3.80 Million |
|
Auga Group AB
STU:W9Z
|
$3.80 Million |
|
Aurora Energy Metals Ltd
AU:1AE
|
$3.81 Million |
|
Telo Genomics Corp
OTCQB:TDSGF
|
$3.80 Million |
|
Sow Good Inc. Common Stock
OTCQB:SOWG
|
$3.80 Million |
|
Lion Financial Group Limited
NASDAQ:LGHLW
|
$3.80 Million |
|
Vow Green Metals AS
OL:VGM
|
$3.80 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TSA's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 139,682,000 to 181,764,000, a change of 42,082,000 (30.1%).
- Net income of 17,484,000 contributed positively to equity growth.
- Dividend payments of 15,745,000 reduced retained earnings.
- New share issuances of 42,529,000 increased equity.
- Other factors decreased equity by 2,186,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM17.48 Million | +9.62% |
| Dividends Paid | RM15.74 Million | -8.66% |
| Share Issuances | RM42.53 Million | +23.4% |
| Other Changes | RM-2.19 Million | -1.2% |
| Total Change | RM- | 30.13% |
Book Value vs Market Value Analysis
This analysis compares TSA'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: 1.45x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.19x to 1.45x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-08-31 | RM0.39 | RM0.85 | x |
| 2021-08-31 | RM0.40 | RM0.85 | x |
| 2022-08-31 | RM0.48 | RM0.85 | x |
| 2023-08-31 | RM0.45 | RM0.85 | x |
| 2024-08-31 | RM0.59 | RM0.85 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TSA 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): 9.62%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.01%
- • Asset Turnover: 1.05x
- • Equity Multiplier: 1.53x
- Recent ROE (9.62%) is below the historical average (16.87%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | 4.20% | 2.14% | 1.12x | 1.75x | RM-6.95 Million |
| 2021 | 31.68% | 12.88% | 1.16x | 2.12x | RM26.67 Million |
| 2022 | 27.17% | 11.24% | 1.48x | 1.63x | RM25.37 Million |
| 2023 | 11.69% | 4.91% | 1.49x | 1.60x | RM2.36 Million |
| 2024 | 9.62% | 6.01% | 1.05x | 1.53x | RM-692.40K |
Industry Comparison
This section compares TSA's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $404,878,622
- Average return on equity (ROE) among peers: 2.67%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TSA (0297) | RM188.34 Million | 4.20% | 0.48x | $3.80 Million |
| Tashin Holdings Bhd (0211) | $105.52 Million | 3.94% | 0.78x | $3.14 Million |
| LEFORM (0266) | $169.81 Million | 26.25% | 1.30x | $10.26 Million |
| Minox International Group Berhad (0288) | $49.43 Million | 20.85% | 0.61x | $2.59 Million |
| Hydropipes Industries Sdn. Bhd. (03060) | $8.17 Million | 0.00% | 0.21x | $658.12 |
| BWYS Group Berhad (0313) | $217.83 Million | 3.52% | 0.84x | $7.21 Million |
| Colform Group Berhad (0341) | $83.84 Million | 16.50% | 0.18x | $571.81 |
| Saliran Group Berhad (0346) | $20.32 Million | 29.30% | 4.29x | $2.86 Million |
| Melewar Industrial Group Bhd (3778) | $322.00 Million | -66.77% | 3.42x | $5.14 Million |
| Lion Industries Corporation Bhd (4235) | $2.67 Billion | -9.56% | 0.60x | $10.02 Million |