Hengyuan Refining Company Bhd
Hengyuan Refining Company Berhad engages in refining, manufacturing, and selling petroleum products in Malaysia. It offers liquefied petroleum gas; petrol; jet fuel; diesel; fuel oil components; sulphur; light naphtha; and propylene. The company was formerly known as Shell Refining Company (Federation of Malaya) Berhad and changed its name to Hengyuan Refining Company Berhad in March 2017. Hengyu… Read more
Hengyuan Refining Company Bhd (4324) - Net Assets
Latest net assets as of September 2025: RM776.30 Million MYR
Based on the latest financial reports, Hengyuan Refining Company Bhd (4324) has net assets worth RM776.30 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 (RM4.37 Billion) and total liabilities (RM3.59 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 | RM776.30 Million |
| % of Total Assets | 17.77% |
| Annual Growth Rate | -3.23% |
| 5-Year Change | -46.96% |
| 10-Year Change | 69.87% |
| Growth Volatility | 69.28 |
Hengyuan Refining Company Bhd - Net Assets Trend (2012–2024)
This chart illustrates how Hengyuan Refining Company 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 Hengyuan Refining Company Bhd (2012–2024)
The table below shows the annual net assets of Hengyuan Refining Company Bhd from 2012 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | RM1.15 Billion | -17.99% |
| 2023-12-31 | RM1.40 Billion | +2.09% |
| 2022-12-31 | RM1.37 Billion | -33.05% |
| 2021-12-31 | RM2.05 Billion | -5.37% |
| 2020-12-31 | RM2.17 Billion | -60.65% |
| 2019-12-31 | RM5.51 Billion | +172.59% |
| 2018-12-31 | RM2.02 Billion | +13.02% |
| 2017-12-31 | RM1.79 Billion | +77.02% |
| 2016-12-31 | RM1.01 Billion | +49.23% |
| 2015-12-31 | RM677.09 Million | +108.34% |
| 2014-12-31 | RM325.00 Million | -78.52% |
| 2013-12-31 | RM1.51 Billion | -11.26% |
| 2012-12-31 | RM1.71 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Hengyuan Refining Company 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 161.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM986.83 Million | 85.80% |
| Common Stock | RM300.00 Million | 26.08% |
| Other Comprehensive Income | RM-136.65 Million | -11.88% |
| Total Equity | RM1.15 Billion | 100.00% |
Hengyuan Refining Company Bhd Competitors by Market Cap
The table below lists competitors of Hengyuan Refining Company Bhd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
NFC Corporation
KQ:265740
|
$41.44 Million |
|
Mobilicom Limited American Depositary Shares
NASDAQ:MOB
|
$41.44 Million |
|
FTAC Emerald Acquisition Corp.
NASDAQ:FLDDU
|
$41.45 Million |
|
Vivani Medical Inc.
NASDAQ:VANI
|
$41.46 Million |
|
Century Lithium Corp.
V:LCE
|
$41.42 Million |
|
DarioHealth Corp
NASDAQ:DRIO
|
$41.41 Million |
|
Kraft Bank Asa
OL:KRAB
|
$41.40 Million |
|
GoldMoney Inc
PINK:XAUMF
|
$41.38 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hengyuan Refining Company Bhd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,402,566,000 to 1,150,177,000, a change of -252,389,000 (-18.0%).
- Net loss of 357,561,000 reduced equity.
- Other comprehensive income increased equity by 105,171,999.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM-357.56 Million | -31.09% |
| Other Comprehensive Income | RM105.17 Million | +9.14% |
| Other Changes | RM1.00 | +0.0% |
| Total Change | RM- | -17.99% |
Book Value vs Market Value Analysis
This analysis compares Hengyuan Refining Company 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: 0.41x
- 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 | RM3.37 | RM1.58 | x |
| 2017-12-31 | RM5.96 | RM1.58 | x |
| 2018-12-31 | RM6.74 | RM1.58 | x |
| 2019-12-31 | RM6.70 | RM1.58 | x |
| 2020-12-31 | RM7.23 | RM1.58 | x |
| 2021-12-31 | RM6.84 | RM1.58 | x |
| 2022-12-31 | RM4.58 | RM1.58 | x |
| 2023-12-31 | RM4.68 | RM1.58 | x |
| 2024-12-31 | RM3.83 | RM1.58 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hengyuan Refining Company 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): -31.09%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -2.08%
- • Asset Turnover: 4.56x
- • Equity Multiplier: 3.28x
- Recent ROE (-31.09%) is below the historical average (7.86%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 51.96% | 3.87% | 3.08x | 4.36x | RM284.08 Million |
| 2016 | 33.18% | 4.01% | 2.72x | 3.05x | RM234.23 Million |
| 2017 | 51.98% | 8.03% | 3.17x | 2.04x | RM750.89 Million |
| 2018 | 1.53% | 0.27% | 2.70x | 2.06x | RM-171.32 Million |
| 2019 | 1.74% | 0.28% | 2.24x | 2.81x | RM-166.15 Million |
| 2020 | 11.57% | 3.50% | 1.60x | 2.07x | RM34.14 Million |
| 2021 | 4.03% | 0.69% | 2.19x | 2.67x | RM-122.53 Million |
| 2022 | -11.47% | -0.75% | 3.19x | 4.82x | RM-295.02 Million |
| 2023 | -34.83% | -3.17% | 2.73x | 4.02x | RM-628.83 Million |
| 2024 | -31.09% | -2.08% | 4.56x | 3.28x | RM-472.58 Million |
Industry Comparison
This section compares Hengyuan Refining Company Bhd's net assets metrics with peer companies in the Oil & Gas Refining & Marketing industry.
Industry Context
- Industry: Oil & Gas Refining & Marketing
- Average net assets among peers: $2,811,369,277
- Average return on equity (ROE) among peers: 5.98%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hengyuan Refining Company Bhd (4324) | RM776.30 Million | 51.96% | 4.63x | $41.43 Million |
| Hiap Huat Holdings Bhd (0160) | $57.73 Million | 3.36% | 0.40x | $3.23 Million |
| Petron Malaysia Refining Marketing (3042) | $2.36 Billion | 0.76% | 0.97x | $59.50 Million |
| Petronas Dagangan Bhd (5681) | $6.01 Billion | 13.80% | 0.66x | $1.62 Billion |