TRC Synergy Bhd (5054) - Net Assets

Latest as of December 2025: RM548.11 Million MYR ≈ $137.61 Million USD

Based on the latest financial reports, TRC Synergy Bhd (5054) has net assets worth RM548.11 Million MYR (≈ $137.61 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 (RM847.00 Million ≈ $212.65 Million USD) and total liabilities (RM298.89 Million ≈ $75.04 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 asset resilience ratio of TRC Synergy Bhd to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	RM548.11 Million
% of Total Assets	64.71%
Annual Growth Rate	4.4%
5-Year Change	21.73%
10-Year Change	44.05%
Growth Volatility	3.46

TRC Synergy Bhd - Net Assets Trend (2012–2025)

This chart illustrates how TRC Synergy Bhd's net assets have evolved over time, based on quarterly financial data. Also explore 5054 total assets for the complete picture of this company's asset base.

Annual Net Assets for TRC Synergy Bhd (2012–2025)

The table below shows the annual net assets of TRC Synergy Bhd from 2012 to 2025. For live valuation and market cap data, see TRC Synergy Bhd stock valuation.

Year	Net Assets	Change
2025-12-31	RM548.11 Million ≈ $137.61 Million	+0.56%
2024-12-31	RM545.08 Million ≈ $136.85 Million	+0.14%
2023-12-31	RM544.31 Million ≈ $136.66 Million	+9.74%
2022-12-31	RM496.00 Million ≈ $124.53 Million	+10.15%
2021-12-31	RM450.28 Million ≈ $113.05 Million	+3.55%
2020-12-31	RM434.83 Million ≈ $109.17 Million	+4.74%
2019-12-31	RM415.14 Million ≈ $104.23 Million	+1.25%
2018-12-31	RM410.00 Million ≈ $102.94 Million	+2.12%
2017-12-31	RM401.49 Million ≈ $100.80 Million	+5.51%
2016-12-31	RM380.51 Million ≈ $95.53 Million	+6.88%
2015-12-31	RM356.00 Million ≈ $89.38 Million	+9.20%
2014-12-31	RM326.00 Million ≈ $81.85 Million	+0.62%
2013-12-31	RM324.00 Million ≈ $81.35 Million	+3.51%
2012-12-31	RM313.00 Million ≈ $78.58 Million	--

Equity Component Analysis

This analysis shows how different components contribute to TRC Synergy 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 125.2% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	RM310.12 Million	56.58%
Common Stock	RM240.46 Million	43.87%
Total Equity	RM548.11 Million	100.00%

TRC Synergy Bhd Competitors by Market Cap

The table below lists competitors of TRC Synergy Bhd ranked by their market capitalization.

Company	Market Cap
Enerside Energy S.A. MC:ENRS	$33.73 Million
Momentus Inc NASDAQ:MNTS	$33.74 Million
DKLS Industries Bhd KLSE:7528	$33.75 Million
Hep Tech Co Ltd TWO:3609	$33.76 Million
TransAct Technologies Incorporated NASDAQ:TACT	$33.71 Million
Milae Bioresources Co. Ltd KQ:218150	$33.69 Million
Alternative Investment Trust AU:AIQ	$33.69 Million
Glacier Media Inc. TO:GVC	$33.67 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in TRC Synergy Bhd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 536,127,453 to 548,112,470, a change of 11,985,017 (2.2%).
Net income of 15,323,760 contributed positively to equity growth.
Dividend payments of 3,299,020 reduced retained earnings.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	RM15.32 Million	+2.8%
Dividends Paid	RM3.30 Million	-0.6%
Other Changes	RM-39.72K	-0.01%
Total Change	RM-	2.24%

Book Value vs Market Value Analysis

This analysis compares TRC Synergy 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.
The price-to-book ratio has decreased from 0.36x to 0.25x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2016-12-31	RM0.79	RM0.29	x
2017-12-31	RM0.84	RM0.29	x
2018-12-31	RM0.85	RM0.29	x
2019-12-31	RM0.86	RM0.29	x
2020-12-31	RM0.92	RM0.29	x
2021-12-31	RM0.96	RM0.29	x
2022-12-31	RM1.05	RM0.29	x
2023-12-31	RM1.15	RM0.29	x
2024-12-31	RM1.14	RM0.29	x
2025-12-31	RM1.16	RM0.29	x

Capital Efficiency Dashboard

This dashboard shows how efficiently TRC Synergy 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): 2.80%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 3.68%
• Asset Turnover: 0.49x
• Equity Multiplier: 1.55x
Recent ROE (2.80%) is below the historical average (5.56%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2016	7.32%	3.70%	0.91x	2.17x	RM-10.19 Million
2017	7.52%	4.15%	0.89x	2.03x	RM-9.94 Million
2018	5.10%	2.77%	0.71x	2.59x	RM-20.10 Million
2019	4.29%	2.11%	0.73x	2.79x	RM-23.69 Million
2020	6.27%	3.62%	0.64x	2.70x	RM-16.22 Million
2021	4.59%	2.71%	0.66x	2.58x	RM-24.36 Million
2022	10.74%	7.86%	0.60x	2.27x	RM3.69 Million
2023	4.64%	3.72%	0.69x	1.81x	RM-29.16 Million
2024	2.35%	2.49%	0.54x	1.75x	RM-41.04 Million
2025	2.80%	3.68%	0.49x	1.55x	RM-39.49 Million

Industry Comparison

This section compares TRC Synergy Bhd's net assets metrics with peer companies in the Engineering & Construction industry.

Industry Context

Industry: Engineering & Construction
Average net assets among peers: $101,046,365
Average return on equity (ROE) among peers: 7.46%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
TRC Synergy Bhd (5054)	RM548.11 Million	7.32%	0.55x	$33.72 Million
Southern Score Builders Berhad (0045)	$148.98 Million	16.99%	0.33x	$313.81 Million
Ecobuilt Holdings Bhd (0059)	$66.08 Million	12.86%	0.15x	$4.23 Million
Mega Sun City Holdings Bhd (0081)	$52.47 Million	-28.16%	0.02x	$3.72 Million
Waja Konsortium Bhd (0102)	$33.07 Million	-28.61%	0.43x	$11.20 Million
Kelington Group Bhd (0151)	$66.99 Million	13.23%	1.98x	$1.38 Billion
Widad Group Bhd (0162)	$357.92 Million	19.78%	1.42x	$7.84 Million
Pasukhas Group Bhd (0177)	$136.35 Million	-12.43%	0.39x	$3.59 Million
HSS Engineers Bhd (0185)	$78.71 Million	17.81%	0.59x	$54.89 Million
Cabnet Holdings Bhd (0191)	$14.34 Million	40.24%	1.06x	$11.22 Million
Inta Bina Group Bhd (0192)	$55.55 Million	22.91%	2.88x	$58.65 Million

About TRC Synergy Bhd

KLSE:5054 Malaysia Engineering & Construction

Market Cap

$33.72 Million

RM134.32 Million MYR

Market Cap Rank

#23422 Global

#570 in Malaysia

Share Price

RM0.29

Change (1 day)

-1.72%

52-Week Range

RM0.28 - RM0.38

All Time High

RM0.66