Mulpha International Bhd (3905) - Net Assets

Latest as of December 2025: RM3.74 Billion MYR ≈ $940.24 Million USD

Based on the latest financial reports, Mulpha International Bhd (3905) has net assets worth RM3.74 Billion MYR (≈ $940.24 Million USD) 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 ≈ $1.53 Billion USD) and total liabilities (RM2.33 Billion ≈ $585.22 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 3905 financial resilience to evaluate the company's liquid asset resilience ratio.

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. Also explore Mulpha International Bhd balance sheet assets for the complete picture of this company's asset base.

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. For live valuation and market cap data, see Mulpha International Bhd stock valuation.

Year	Net Assets	Change
2025-12-31	RM3.74 Billion ≈ $940.24 Million	+9.76%
2024-12-31	RM3.41 Billion ≈ $856.64 Million	-5.34%
2023-12-31	RM3.60 Billion ≈ $904.92 Million	+2.18%
2022-12-31	RM3.53 Billion ≈ $885.64 Million	+2.43%
2021-12-31	RM3.44 Billion ≈ $864.58 Million	+15.75%
2020-12-31	RM2.98 Billion ≈ $746.93 Million	+3.67%
2019-12-31	RM2.87 Billion ≈ $720.49 Million	-10.80%
2018-12-31	RM3.22 Billion ≈ $807.77 Million	-2.95%
2017-12-31	RM3.32 Billion ≈ $832.30 Million	+11.33%
2016-12-31	RM2.98 Billion ≈ $747.58 Million	+15.91%
2015-12-31	RM2.57 Billion ≈ $644.99 Million	+6.91%
2014-12-31	RM2.40 Billion ≈ $603.31 Million	+2.82%
2013-12-31	RM2.34 Billion ≈ $586.74 Million	-7.34%
2012-12-31	RM2.52 Billion ≈ $633.19 Million	--

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
UEM Edgenta Bhd KLSE:1368	$227.58 Million
Green Cross Lab Cell Corporation KQ:144510	$227.61 Million
Chung Hwa Food Industrial Co Ltd TWO:4205	$227.66 Million
NXG NextGen Infrastructure Income Fund NYSE:NXG	$227.70 Million
Sweeten Real Estate Development Co Ltd TW:5525	$227.51 Million
Boyaa Interactive International Limited F:1BY	$227.49 Million
Stellar V Capital Corp. Unit NASDAQ:SVCCU	$227.39 Million
RF Capital Group Inc TO:RCG	$227.36 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: 0.24x
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	RM2.96	x
2017-12-31	RM10.38	RM2.96	x
2018-12-31	RM10.07	RM2.96	x
2019-12-31	RM8.98	RM2.96	x
2020-12-31	RM9.31	RM2.96	x
2021-12-31	RM11.07	RM2.96	x
2022-12-31	RM11.34	RM2.96	x
2023-12-31	RM11.58	RM2.96	x
2024-12-31	RM11.15	RM2.96	x
2025-12-31	RM12.23	RM2.96	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: $3,506,273,806
Average return on equity (ROE) among peers: -11.17%

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	$227.54 Million
Digistar Corporation Bhd (0029)	$62.45 Million	-3.89%	3.98x	$5.51 Million
Key Alliance Group Bhd (0036)	$88.04 Million	-16.42%	0.25x	$2.15 Million
MSCM Holdings Bhd (0041)	$372.64 Million	-8.46%	0.12x	$14.11 Million
Asdion Bhd (0068)	$3.96 Million	-124.18%	2.66x	$3.21 Million
EA Holdings Bhd (0154)	$107.05 Million	-13.61%	0.15x	$8.10 Million
Sports Toto Berhad (1562)	$746.69 Million	31.23%	2.52x	$430.06 Million
Batu Kawan Bhd (1899)	$6.08 Billion	13.57%	2.26x	$2.08 Billion
Kuala Lumpur Kepong Bhd (2445)	$16.14 Billion	5.17%	0.87x	$5.93 Billion
Hap Seng Consolidated Bhd (3034)	$9.27 Billion	8.63%	1.01x	$1.83 Billion
Berjaya Assets Bhd (3239)	$2.18 Billion	-3.73%	0.61x	$189.48 Million

About Mulpha International Bhd

KLSE:3905 Malaysia Conglomerates

Market Cap

$227.54 Million

RM906.29 Million MYR

Market Cap Rank

#16074 Global

#198 in Malaysia

Share Price

RM2.96

Change (1 day)

-0.34%

52-Week Range

RM2.80 - RM3.40

All Time High

RM3.40