Mulpha International Bhd
Mulpha International Bhd, an investment holding company, invests in the real estate and hospitality sectors in Malaysia, Australia, and New Zealand. It operates through four segments: Property Development, Property Investment and Finance, Hospitality and Leisure, and Investment and Others. The company engages in property development; real estate investment; licensed money lending; provision of fi… Read more
Mulpha International Bhd (3905) - Net Assets
Latest net assets as of December 2025: RM3.74 Billion MYR
Based on the latest financial reports, Mulpha International Bhd (3905) has net assets worth RM3.74 Billion MYR as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM6.08 Billion) and total liabilities (RM2.33 Billion). 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 | RM3.74 Billion |
| % of Total Assets | 61.64% |
| Annual Growth Rate | 3.09% |
| 5-Year Change | 8.75% |
| 10-Year Change | 25.77% |
| Growth Volatility | 8.14 |
Mulpha International Bhd - Net Assets Trend (2012–2025)
This chart illustrates how Mulpha International 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 Mulpha International Bhd (2012–2025)
The table below shows the annual net assets of Mulpha International Bhd from 2012 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | RM3.74 Billion | +9.76% |
| 2024-12-31 | RM3.41 Billion | -5.34% |
| 2023-12-31 | RM3.60 Billion | +2.18% |
| 2022-12-31 | RM3.53 Billion | +2.43% |
| 2021-12-31 | RM3.44 Billion | +15.75% |
| 2020-12-31 | RM2.98 Billion | +3.67% |
| 2019-12-31 | RM2.87 Billion | -10.80% |
| 2018-12-31 | RM3.22 Billion | -2.95% |
| 2017-12-31 | RM3.32 Billion | +11.33% |
| 2016-12-31 | RM2.98 Billion | +15.91% |
| 2015-12-31 | RM2.57 Billion | +6.91% |
| 2014-12-31 | RM2.40 Billion | +2.82% |
| 2013-12-31 | RM2.34 Billion | -7.34% |
| 2012-12-31 | RM2.52 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Mulpha International 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 224.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM1.94 Billion | 51.81% |
| Other Components | RM1.80 Billion | 48.19% |
| Total Equity | RM3.74 Billion | 100.00% |
Mulpha International Bhd Competitors by Market Cap
The table below lists competitors of Mulpha International Bhd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Investment and Trading of Real Estate JSC
VN:ITC
|
$39.74 Million |
|
Gowa Makassar Tourism Develop
JK:GMTD
|
$39.76 Million |
|
Arovella Therapeutics Ltd
AU:ALA
|
$39.76 Million |
|
Aker Horizons ASA
PINK:AKHOF
|
$39.77 Million |
|
GreenMobility A/S
CO:GREENM
|
$39.74 Million |
|
Nasmed Ozel Saglik Hizmetleri Ticaret AS
IS:EGEPO
|
$39.73 Million |
|
Victoria Investama Tbk
JK:VICO
|
$39.73 Million |
|
Seafco Public Company Limited
BK:SEAFCO
|
$39.72 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Mulpha International Bhd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,412,000,000 to 3,744,979,000, a change of 332,979,000 (9.8%).
- Net income of 404,309,000 contributed positively to equity growth.
- Other factors decreased equity by 71,330,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM404.31 Million | +10.8% |
| Other Changes | RM-71.33 Million | -1.9% |
| Total Change | RM- | 9.76% |
Book Value vs Market Value Analysis
This analysis compares Mulpha International 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: 0.25x
- 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.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | RM9.32 | RM2.81 | x |
| 2017-12-31 | RM10.38 | RM2.81 | x |
| 2018-12-31 | RM10.07 | RM2.81 | x |
| 2019-12-31 | RM8.98 | RM2.81 | x |
| 2020-12-31 | RM9.31 | RM2.81 | x |
| 2021-12-31 | RM11.07 | RM2.81 | x |
| 2022-12-31 | RM11.34 | RM2.81 | x |
| 2023-12-31 | RM11.58 | RM2.81 | x |
| 2024-12-31 | RM11.15 | RM2.81 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Mulpha International 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): 10.80%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 25.42%
- • Asset Turnover: 0.26x
- • Equity Multiplier: 1.62x
- Recent ROE (10.80%) is above the historical average (4.27%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 6.42% | 17.28% | 0.19x | 2.00x | RM-91.90 Million |
| 2016 | 0.56% | 1.32% | 0.22x | 1.93x | RM-280.96 Million |
| 2017 | 11.14% | 31.56% | 0.20x | 1.77x | RM37.81 Million |
| 2018 | 7.33% | 30.03% | 0.13x | 1.83x | RM-86.03 Million |
| 2019 | -7.38% | -24.93% | 0.16x | 1.85x | RM-498.85 Million |
| 2020 | -1.96% | -9.45% | 0.12x | 1.80x | RM-355.87 Million |
| 2021 | 12.57% | 54.99% | 0.14x | 1.58x | RM88.53 Million |
| 2022 | 2.41% | 8.74% | 0.16x | 1.68x | RM-267.87 Million |
| 2023 | 3.04% | 9.12% | 0.19x | 1.76x | RM-250.89 Million |
| 2024 | 2.08% | 6.87% | 0.17x | 1.82x | RM-270.20 Million |
| 2025 | 10.80% | 25.42% | 0.26x | 1.62x | RM29.81 Million |
Industry Comparison
This section compares Mulpha International Bhd's net assets metrics with peer companies in the Conglomerates industry.
Industry Context
- Industry: Conglomerates
- Average net assets among peers: $2,612,093,375
- Average return on equity (ROE) among peers: -4.04%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Mulpha International Bhd (3905) | RM3.74 Billion | 6.42% | 0.62x | $39.74 Million |
| Digistar Corporation Bhd (0029) | $64.23 Million | 20.26% | 5.59x | $1.85 Million |
| Key Alliance Group Bhd (0036) | $41.31 Million | -10.37% | 0.81x | $1.39 Million |
| MSCM Holdings Bhd (0041) | $30.95 Million | 18.15% | 0.52x | $1.48 Million |
| Asdion Bhd (0068) | $11.85 Million | -65.79% | 0.48x | $1.33 Million |
| EA Holdings Bhd (0154) | $121.62 Million | -44.30% | 0.11x | $3.07 Million |
| Sports Toto Berhad (1562) | $1.25 Billion | 18.98% | 2.20x | $173.30 Million |
| Batu Kawan Bhd (1899) | $8.87 Billion | 5.88% | 0.60x | $248.59 Million |
| Hap Seng Consolidated Bhd (3034) | $6.42 Billion | 17.20% | 0.90x | $288.24 Million |
| Berjaya Assets Bhd (3239) | $2.01 Billion | -6.15% | 0.63x | $25.63 Million |
| IJM Corporation Bhd (3336) | $7.30 Billion | 5.77% | 1.07x | $1.78 Billion |