Thong Guan Industries Bhd
Thong Guan Industries Berhad, an investment holding company, manufactures and trades in plastic products and packaged food, beverages, and other consumable products in Malaysia, other Asian countries, Oceania, Europe, North America, and internationally. The company operates through Plastic Products; and Food, Beverages, and Other Consumable Products segments. Its products include stretch and maxs… Read more
Thong Guan Industries Bhd (7034) - Net Assets
Latest net assets as of December 2025: RM958.16 Million MYR
Based on the latest financial reports, Thong Guan Industries Bhd (7034) has net assets worth RM958.16 Million MYR as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM1.44 Billion) and total liabilities (RM479.51 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 | RM958.16 Million |
| % of Total Assets | 66.65% |
| Annual Growth Rate | 9.37% |
| 5-Year Change | 25.81% |
| 10-Year Change | 118.62% |
| Growth Volatility | 5.11 |
Thong Guan Industries Bhd - Net Assets Trend (2006–2025)
This chart illustrates how Thong Guan Industries 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 Thong Guan Industries Bhd (2006–2025)
The table below shows the annual net assets of Thong Guan Industries Bhd from 2006 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | RM958.16 Million | -3.20% |
| 2024-12-31 | RM989.88 Million | +3.78% |
| 2023-12-31 | RM953.81 Million | +12.17% |
| 2022-12-31 | RM850.33 Million | +11.65% |
| 2021-12-31 | RM761.60 Million | +13.96% |
| 2020-12-31 | RM668.31 Million | +12.40% |
| 2019-12-31 | RM594.59 Million | +17.83% |
| 2018-12-31 | RM504.63 Million | +5.99% |
| 2017-12-31 | RM476.10 Million | +8.63% |
| 2016-12-31 | RM438.28 Million | +10.54% |
| 2015-12-31 | RM396.50 Million | +14.10% |
| 2014-12-31 | RM347.49 Million | +18.55% |
| 2013-12-31 | RM293.12 Million | +10.74% |
| 2012-12-31 | RM264.70 Million | +8.90% |
| 2011-12-31 | RM243.07 Million | +12.17% |
| 2010-12-31 | RM216.71 Million | +6.02% |
| 2009-12-31 | RM204.41 Million | +6.63% |
| 2008-12-31 | RM191.71 Million | +4.26% |
| 2007-12-31 | RM183.86 Million | +5.20% |
| 2006-12-31 | RM174.77 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Thong Guan Industries 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 67342000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM673.42 Million | 72.38% |
| Common Stock | RM271.99 Million | 29.23% |
| Other Comprehensive Income | RM-2.63 Million | -0.28% |
| Total Equity | RM930.46 Million | 100.00% |
Thong Guan Industries Bhd Competitors by Market Cap
The table below lists competitors of Thong Guan Industries Bhd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Copper Giant Resources Corp.
F:29H0
|
$55.85 Million |
|
AGROB Immobilien AG
F:AGR3
|
$55.86 Million |
|
Keyang Electric Machinery Co Ltd
KO:012205
|
$55.86 Million |
|
Critical Elements Lithium Corporation
F:F12
|
$55.86 Million |
|
Dongwon Systems Corp
KO:014825
|
$55.84 Million |
|
GrowGeneration Corp
NASDAQ:GRWG
|
$55.78 Million |
|
Cegedim S.A.
PA:CGM
|
$55.75 Million |
|
Siam Wellness Group Public Company Limited
BK:SPA
|
$55.73 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thong Guan Industries Bhd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 959,737,000 to 930,455,000, a change of -29,282,000 (-3.1%).
- Net income of 64,029,000 contributed positively to equity growth.
- Dividend payments of 18,434,000 reduced retained earnings.
- Share repurchases of 7,185,000 reduced equity.
- Other comprehensive income decreased equity by 2,634,000.
- Other factors decreased equity by 65,058,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM64.03 Million | +6.88% |
| Dividends Paid | RM18.43 Million | -1.98% |
| Share Repurchases | RM7.18 Million | -0.77% |
| Other Comprehensive Income | RM-2.63 Million | -0.28% |
| Other Changes | RM-65.06 Million | -6.99% |
| Total Change | RM- | -3.05% |
Book Value vs Market Value Analysis
This analysis compares Thong Guan Industries 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: 0.55x
- 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 2.00x to 0.55x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | RM0.65 | RM1.29 | x |
| 2007-12-31 | RM0.68 | RM1.29 | x |
| 2008-12-31 | RM0.71 | RM1.29 | x |
| 2009-12-31 | RM0.76 | RM1.29 | x |
| 2010-12-31 | RM0.80 | RM1.29 | x |
| 2011-12-31 | RM0.90 | RM1.29 | x |
| 2012-12-31 | RM0.97 | RM1.29 | x |
| 2013-12-31 | RM1.38 | RM1.29 | x |
| 2014-12-31 | RM1.55 | RM1.29 | x |
| 2015-12-31 | RM1.64 | RM1.29 | x |
| 2016-12-31 | RM1.31 | RM1.29 | x |
| 2017-12-31 | RM1.38 | RM1.29 | x |
| 2018-12-31 | RM1.46 | RM1.29 | x |
| 2019-12-31 | RM1.74 | RM1.29 | x |
| 2020-12-31 | RM1.65 | RM1.29 | x |
| 2021-12-31 | RM1.87 | RM1.29 | x |
| 2022-12-31 | RM2.09 | RM1.29 | x |
| 2023-12-31 | RM2.33 | RM1.29 | x |
| 2024-12-31 | RM2.40 | RM1.29 | x |
| 2025-12-31 | RM2.35 | RM1.29 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thong Guan Industries 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): 6.88%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 5.33%
- • Asset Turnover: 0.84x
- • Equity Multiplier: 1.55x
- Recent ROE (6.88%) is below the historical average (9.17%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | 12.06% | 4.49% | 1.50x | 1.79x | RM3.60 Million |
| 2007 | 6.53% | 2.32% | 1.54x | 1.83x | RM-6.38 Million |
| 2008 | 2.42% | 0.82% | 1.90x | 1.55x | RM-14.52 Million |
| 2009 | 7.42% | 3.71% | 1.41x | 1.41x | RM-5.28 Million |
| 2010 | 9.13% | 4.05% | 1.51x | 1.49x | RM-1.88 Million |
| 2011 | 11.17% | 5.01% | 1.47x | 1.52x | RM2.83 Million |
| 2012 | 10.40% | 4.31% | 1.60x | 1.51x | RM1.04 Million |
| 2013 | 9.73% | 3.91% | 1.61x | 1.55x | RM-772.30K |
| 2014 | 5.11% | 2.36% | 1.35x | 1.60x | RM-16.72 Million |
| 2015 | 9.88% | 5.42% | 1.32x | 1.38x | RM-460.00K |
| 2016 | 12.99% | 7.52% | 1.20x | 1.44x | RM12.86 Million |
| 2017 | 8.99% | 5.03% | 1.21x | 1.47x | RM-4.73 Million |
| 2018 | 8.83% | 5.07% | 1.17x | 1.49x | RM-5.80 Million |
| 2019 | 10.73% | 6.59% | 1.07x | 1.53x | RM4.19 Million |
| 2020 | 11.67% | 7.84% | 0.95x | 1.57x | RM10.77 Million |
| 2021 | 12.66% | 7.64% | 1.00x | 1.66x | RM19.50 Million |
| 2022 | 12.17% | 7.21% | 1.06x | 1.59x | RM17.84 Million |
| 2023 | 7.72% | 5.75% | 0.89x | 1.52x | RM-21.08 Million |
| 2024 | 7.00% | 5.24% | 0.88x | 1.52x | RM-28.80 Million |
| 2025 | 6.88% | 5.33% | 0.84x | 1.55x | RM-29.02 Million |
Industry Comparison
This section compares Thong Guan Industries Bhd's net assets metrics with peer companies in the Packaging & Containers industry.
Industry Context
- Industry: Packaging & Containers
- Average net assets among peers: $166,977,172
- Average return on equity (ROE) among peers: 8.20%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thong Guan Industries Bhd (7034) | RM958.16 Million | 12.06% | 0.50x | $55.84 Million |
| HPP Holdings Bhd (0228) | $67.39 Million | 12.22% | 0.57x | $4.91 Million |
| L&P Global Berhad (0268) | $27.88 Million | 35.34% | 1.06x | $2.89 Million |
| DS Sigma Holdings Berhad (0269) | $114.25 Million | 9.64% | 0.15x | $5.12 Million |
| Scientex Bhd (4731) | $450.80 Million | 13.38% | 0.50x | $472.96 Million |
| Versatile Creative Bhd (4995) | $99.00 Million | -2.02% | 0.48x | $14.13 Million |
| Ornapaper Bhd (5065) | $115.00 Million | 6.09% | 0.81x | $3.43 Million |
| BP Plastics Holding Bhd (5100) | $154.00 Million | 6.49% | 0.29x | $8.97 Million |
| Perusahaan Sadur Timah Malaysia Perstima Bhd (5436) | $441.46 Million | -6.48% | 1.12x | $52.74 Million |
| Box Pak (Malaysia) Bhd (6297) | $150.00 Million | 5.33% | 1.08x | $872.08K |
| Master Pack Group Bhd (7029) | $50.00 Million | 2.00% | 0.58x | $3.28 Million |