Southern Steel Bhd
Southern Steel Berhad, an investment holding company, manufactures, sells, and trades in steel bars and related products for the construction, infrastructure, and industrial sectors. It operates through Steel Products; and Investment Holding and Others segments. The company offers billets, bars and wires, and other related products; steel bars for structural reinforcement; steel pipes for fluid t… Read more
Southern Steel Bhd (5665) - Net Assets
Latest net assets as of September 2025: RM884.85 Million MYR
Based on the latest financial reports, Southern Steel Bhd (5665) has net assets worth RM884.85 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 (RM1.41 Billion) and total liabilities (RM526.39 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 | RM884.85 Million |
| % of Total Assets | 62.7% |
| Annual Growth Rate | 0.66% |
| 5-Year Change | 27.12% |
| 10-Year Change | 35.62% |
| Growth Volatility | 21.87 |
Southern Steel Bhd - Net Assets Trend (2012–2025)
This chart illustrates how Southern Steel 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 Southern Steel Bhd (2012–2025)
The table below shows the annual net assets of Southern Steel Bhd from 2012 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | RM921.96 Million | +62.22% |
| 2024-06-30 | RM568.34 Million | -9.09% |
| 2023-06-30 | RM625.20 Million | -0.78% |
| 2022-06-30 | RM630.14 Million | -13.12% |
| 2021-06-30 | RM725.28 Million | +7.95% |
| 2020-06-30 | RM671.89 Million | -21.36% |
| 2019-06-30 | RM854.34 Million | -11.61% |
| 2018-06-30 | RM966.51 Million | +26.32% |
| 2017-06-30 | RM765.11 Million | +12.55% |
| 2016-06-30 | RM679.82 Million | -25.54% |
| 2015-06-30 | RM913.00 Million | +4.82% |
| 2014-06-30 | RM871.00 Million | +0.58% |
| 2013-06-30 | RM866.00 Million | +2.36% |
| 2012-06-30 | RM846.00 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Southern Steel 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 decreased by 305.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | RM1.45 Billion | 158.43% |
| Total Equity | RM915.84 Million | 100.00% |
Southern Steel Bhd Competitors by Market Cap
The table below lists competitors of Southern Steel Bhd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Min Aik Precision Industrial Co Ltd
TW:4545
|
$21.81 Million |
|
Pakka Limited
NSE:PAKKA
|
$21.81 Million |
|
Star Comgistic Capital Co Ltd
TW:4930
|
$21.82 Million |
|
VistaGen Therapeutics Inc
NASDAQ:VTGN
|
$21.83 Million |
|
Super Turtle PCL
BK:TURTLE
|
$21.81 Million |
|
Partner
TA:PTNR
|
$21.80 Million |
|
Bubang Co. Ltd
KQ:014470
|
$21.79 Million |
|
Sun Brothers Development Co Ltd
TWO:3489
|
$21.79 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Southern Steel Bhd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 568,341,000 to 915,838,000, a change of 347,497,000 (61.1%).
- Net loss of 60,431,000 reduced equity.
- Share repurchases of 378,545,000 reduced equity.
- Other factors increased equity by 786,473,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM-60.43 Million | -6.6% |
| Share Repurchases | RM378.55 Million | -41.33% |
| Other Changes | RM786.47 Million | +85.87% |
| Total Change | RM- | 61.14% |
Book Value vs Market Value Analysis
This analysis compares Southern Steel 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: 0.68x
- 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 increased from 0.26x to 0.68x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-06-30 | RM1.62 | RM0.42 | x |
| 2017-06-30 | RM1.78 | RM0.42 | x |
| 2018-06-30 | RM2.23 | RM0.42 | x |
| 2019-06-30 | RM1.97 | RM0.42 | x |
| 2020-06-30 | RM1.13 | RM0.42 | x |
| 2021-06-30 | RM1.22 | RM0.42 | x |
| 2022-06-30 | RM1.06 | RM0.42 | x |
| 2023-06-30 | RM1.05 | RM0.42 | x |
| 2024-06-30 | RM0.95 | RM0.42 | x |
| 2025-06-30 | RM0.61 | RM0.42 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Southern Steel 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): -6.60%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -2.26%
- • Asset Turnover: 1.91x
- • Equity Multiplier: 1.53x
- Recent ROE (-6.60%) is above the historical average (-12.95%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | -13.03% | -4.66% | 0.98x | 2.85x | RM-208.59 Million |
| 2016 | -32.53% | -9.21% | 1.13x | 3.11x | RM-289.13 Million |
| 2017 | 12.19% | 3.54% | 1.15x | 2.99x | RM16.78 Million |
| 2018 | 21.82% | 5.70% | 1.49x | 2.58x | RM114.20 Million |
| 2019 | -13.93% | -3.80% | 1.41x | 2.61x | RM-204.48 Million |
| 2020 | -69.51% | -24.42% | 0.80x | 3.57x | RM-534.24 Million |
| 2021 | 6.61% | 2.75% | 0.74x | 3.25x | RM-24.60 Million |
| 2022 | -15.06% | -4.11% | 1.16x | 3.16x | RM-157.91 Million |
| 2023 | -22.62% | -5.93% | 1.24x | 3.08x | RM-203.96 Million |
| 2024 | -9.83% | -2.49% | 1.22x | 3.25x | RM-112.68 Million |
| 2025 | -6.60% | -2.26% | 1.91x | 1.53x | RM-152.01 Million |
Industry Comparison
This section compares Southern Steel Bhd's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $379,394,660
- Average return on equity (ROE) among peers: 5.08%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Southern Steel Bhd (5665) | RM884.85 Million | -13.03% | 0.59x | $21.81 Million |
| Tashin Holdings Bhd (0211) | $105.52 Million | 3.94% | 0.78x | $3.14 Million |
| LEFORM (0266) | $169.81 Million | 26.25% | 1.30x | $10.26 Million |
| Minox International Group Berhad (0288) | $49.43 Million | 20.85% | 0.61x | $2.59 Million |
| TSA (0297) | $150.04 Million | 26.76% | 0.61x | $3.80 Million |
| Hydropipes Industries Sdn. Bhd. (03060) | $8.17 Million | 0.00% | 0.21x | $658.12 |
| BWYS Group Berhad (0313) | $217.83 Million | 3.52% | 0.84x | $7.21 Million |
| Colform Group Berhad (0341) | $83.84 Million | 16.50% | 0.18x | $571.81 |
| Saliran Group Berhad (0346) | $20.32 Million | 29.30% | 4.29x | $2.86 Million |
| Melewar Industrial Group Bhd (3778) | $322.00 Million | -66.77% | 3.42x | $5.14 Million |
| Lion Industries Corporation Bhd (4235) | $2.67 Billion | -9.56% | 0.60x | $10.02 Million |