AYER Holdings Bhd
AYER Holdings Berhad engages in property development and plantation businesses in Malaysia. It develops residential and commercial properties; and cultivates of oil palm and durian. The company was formerly known as TAHPS Group Berhad and changed its name to AYER Holdings Berhad in December 2017. The company was incorporated in 1907 and is based in Kuala Lumpur, Malaysia.
AYER Holdings Bhd (2305) - Net Assets
Latest net assets as of September 2025: RM621.68 Million MYR
Based on the latest financial reports, AYER Holdings Bhd (2305) has net assets worth RM621.68 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 (RM723.17 Million) and total liabilities (RM101.50 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 | RM621.68 Million |
| % of Total Assets | 85.97% |
| Annual Growth Rate | 2.96% |
| 5-Year Change | 17.57% |
| 10-Year Change | 27.78% |
| Growth Volatility | 2.25 |
AYER Holdings Bhd - Net Assets Trend (2013–2025)
This chart illustrates how AYER Holdings 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 AYER Holdings Bhd (2013–2025)
The table below shows the annual net assets of AYER Holdings Bhd from 2013 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | RM617.17 Million | +3.68% |
| 2024-03-31 | RM595.28 Million | +5.03% |
| 2023-03-31 | RM566.79 Million | +5.22% |
| 2022-03-31 | RM538.68 Million | +2.62% |
| 2021-03-31 | RM524.94 Million | +0.38% |
| 2020-03-31 | RM522.94 Million | +1.91% |
| 2019-03-31 | RM513.12 Million | +3.09% |
| 2018-03-31 | RM497.73 Million | +1.95% |
| 2017-03-31 | RM488.21 Million | +1.08% |
| 2016-03-31 | RM483.00 Million | -0.82% |
| 2015-03-31 | RM487.00 Million | +3.84% |
| 2014-03-31 | RM469.00 Million | +7.82% |
| 2013-03-31 | RM435.00 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to AYER Holdings 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 35.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM517.27 Million | 83.81% |
| Common Stock | RM74.94 Million | 12.14% |
| Other Components | RM24.95 Million | 4.04% |
| Total Equity | RM617.17 Million | 100.00% |
AYER Holdings Bhd Competitors by Market Cap
The table below lists competitors of AYER Holdings Bhd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
ZJK Industrial Co., Ltd
NASDAQ:ZJK
|
$14.08 Million |
|
Redflow Ltd
AU:RFX
|
$14.09 Million |
|
Petra Energy Bhd
KLSE:5133
|
$14.09 Million |
|
Alam Maritim Resources Bhd
KLSE:5115
|
$14.09 Million |
|
Heritage Distilling Holding Company, Inc. Common Stock
NASDAQ:CASK
|
$14.08 Million |
|
Daedong Steel Co. Ltd
KQ:048470
|
$14.08 Million |
|
Bitmis Corp
PINK:BIMT
|
$14.08 Million |
|
Kingfish Company Nv
OL:KING
|
$14.08 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in AYER Holdings Bhd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 595,278,000 to 617,171,000, a change of 21,893,000 (3.7%).
- Net income of 36,924,000 contributed positively to equity growth.
- Dividend payments of 14,971,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM36.92 Million | +5.98% |
| Dividends Paid | RM14.97 Million | -2.43% |
| Other Changes | RM-60.00K | -0.01% |
| Total Change | RM- | 3.68% |
Book Value vs Market Value Analysis
This analysis compares AYER Holdings 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 1.07x 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 |
|---|---|---|---|
| 2017-03-31 | RM6.52 | RM7.00 | x |
| 2018-03-31 | RM6.65 | RM7.00 | x |
| 2019-03-31 | RM6.86 | RM7.00 | x |
| 2020-03-31 | RM6.99 | RM7.00 | x |
| 2021-03-31 | RM7.01 | RM7.00 | x |
| 2022-03-31 | RM7.20 | RM7.00 | x |
| 2023-03-31 | RM7.57 | RM7.00 | x |
| 2024-03-31 | RM7.95 | RM7.00 | x |
| 2025-03-31 | RM8.25 | RM7.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently AYER Holdings 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): 5.98%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 34.27%
- • Asset Turnover: 0.15x
- • Equity Multiplier: 1.14x
- Recent ROE (5.98%) is above the historical average (3.90%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 2.06% | 19.15% | 0.10x | 1.13x | RM-38.77 Million |
| 2018 | 2.44% | 23.59% | 0.09x | 1.13x | RM-37.61 Million |
| 2019 | 3.93% | 24.92% | 0.14x | 1.13x | RM-31.16 Million |
| 2020 | 2.40% | 18.61% | 0.12x | 1.12x | RM-39.75 Million |
| 2021 | 1.49% | 15.91% | 0.08x | 1.11x | RM-44.68 Million |
| 2022 | 3.26% | 23.14% | 0.13x | 1.12x | RM-36.30 Million |
| 2023 | 6.24% | 33.03% | 0.17x | 1.13x | RM-21.34 Million |
| 2024 | 7.32% | 32.25% | 0.20x | 1.12x | RM-15.96 Million |
| 2025 | 5.98% | 34.27% | 0.15x | 1.14x | RM-24.79 Million |
Industry Comparison
This section compares AYER Holdings Bhd's net assets metrics with peer companies in the Real Estate - Development industry.
Industry Context
- Industry: Real Estate - Development
- Average net assets among peers: $565,025,416
- Average return on equity (ROE) among peers: 6.05%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| AYER Holdings Bhd (2305) | RM621.68 Million | 2.06% | 0.16x | $14.08 Million |
| Vinvest Capital Holdings Bhd (0069) | $581.54 Million | 0.67% | 0.36x | $2.71 Million |
| Gagasan Nadi Cergas Berhad (0206) | $442.13 Million | -0.76% | 1.23x | $7.59 Million |
| Vestland Berhad (0273) | $46.45 Million | 22.90% | 2.63x | $15.49 Million |
| KTI (0308) | $127.30 Million | 12.27% | 0.83x | $5.35 Million |
| Global Oriental Bhd (1147) | $255.86 Million | 5.65% | 2.56x | $4.63 Million |
| GuocoLand (Malaysia) Bhd (1503) | $892.00 Million | 4.71% | 1.18x | $21.92 Million |
| Symphony Life Bhd (1538) | $916.62 Million | -0.87% | 0.32x | $11.92 Million |
| Iskandar Waterfront City Bhd (1589) | $812.33 Million | 5.62% | 1.19x | $27.36 Million |
| Paramount Corporation Bhd (1724) | $727.00 Million | 7.43% | 0.79x | $69.73 Million |
| Selangor Dredging Bhd (2224) | $849.02 Million | 2.88% | 0.71x | $9.77 Million |