Mah Sing Group Bhd
Mah Sing Group Berhad, an investment holding company, engages in the property development and manufacturing businesses. It operates through Property, Manufacturing, and Investment holding and Others segments. The Property segments invests in and develops residential, commercial, and industrial properties. The Manufacturing segments manufactures and trades in a range of plastic molded products, gl… Read more
Mah Sing Group Bhd (8583) - Net Assets
Latest net assets as of September 2025: RM4.03 Billion MYR
Based on the latest financial reports, Mah Sing Group Bhd (8583) has net assets worth RM4.03 Billion MYR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM7.61 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 | RM4.03 Billion |
| % of Total Assets | 52.88% |
| Annual Growth Rate | 15.02% |
| 5-Year Change | -6.27% |
| 10-Year Change | 7.9% |
| Growth Volatility | 27.28 |
Mah Sing Group Bhd - Net Assets Trend (2006–2024)
This chart illustrates how Mah Sing Group 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 Mah Sing Group Bhd (2006–2024)
The table below shows the annual net assets of Mah Sing Group Bhd from 2006 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | RM3.98 Billion | +6.54% |
| 2023-12-31 | RM3.73 Billion | +4.01% |
| 2022-12-31 | RM3.59 Billion | -13.30% |
| 2021-12-31 | RM4.14 Billion | -2.45% |
| 2020-12-31 | RM4.24 Billion | -12.12% |
| 2019-12-31 | RM4.83 Billion | +0.06% |
| 2018-12-31 | RM4.82 Billion | +3.79% |
| 2017-12-31 | RM4.65 Billion | +21.15% |
| 2016-12-31 | RM3.84 Billion | +4.13% |
| 2015-12-31 | RM3.68 Billion | +61.70% |
| 2014-12-31 | RM2.28 Billion | +16.05% |
| 2013-12-31 | RM1.96 Billion | +56.44% |
| 2012-12-31 | RM1.26 Billion | +15.30% |
| 2011-12-31 | RM1.09 Billion | +16.23% |
| 2010-12-31 | RM936.46 Million | +9.72% |
| 2009-12-31 | RM853.47 Million | +22.52% |
| 2008-12-31 | RM696.61 Million | +9.57% |
| 2007-12-31 | RM635.77 Million | +98.49% |
| 2006-12-31 | RM320.30 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Mah Sing Group 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 1525.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM2.05 Billion | 52.19% |
| Common Stock | RM1.88 Billion | 47.71% |
| Other Components | RM4.29 Million | 0.11% |
| Total Equity | RM3.93 Billion | 100.00% |
Mah Sing Group Bhd Competitors by Market Cap
The table below lists competitors of Mah Sing Group Bhd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shanghai SK Petroleum & Chemical Equipment Corp Ltd
SHE:002278
|
$405.53 Million |
|
ANGELALIGN TECHNOLOGY INC
PINK:AGLFF
|
$405.57 Million |
|
Marksans Pharma Limited
NSE:MARKSANS
|
$405.73 Million |
|
Calavo Growers Inc
NASDAQ:CVGW
|
$405.77 Million |
|
Cognyte Software Ltd
NASDAQ:CGNT
|
$405.37 Million |
|
Dr. Martens plc
PINK:DRMTY
|
$405.34 Million |
|
Healthcare Trust Inc PR
NASDAQ:HTIA
|
$405.24 Million |
|
ARROW FINL CORP. DL 1
F:BQE
|
$405.18 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Mah Sing Group Bhd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,695,397,000 to 3,932,563,000, a change of 237,166,000 (6.4%).
- Net income of 240,747,000 contributed positively to equity growth.
- Dividend payments of 102,406,000 reduced retained earnings.
- Other comprehensive income decreased equity by 6,250,000.
- Other factors increased equity by 105,075,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM240.75 Million | +6.12% |
| Dividends Paid | RM102.41 Million | -2.6% |
| Other Comprehensive Income | RM-6.25 Million | -0.16% |
| Other Changes | RM105.08 Million | +2.67% |
| Total Change | RM- | 6.42% |
Book Value vs Market Value Analysis
This analysis compares Mah Sing Group 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: 0.69x
- 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 3.54x to 0.69x 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 | RM0.30 | RM1.07 | x |
| 2007-12-31 | RM0.60 | RM1.07 | x |
| 2008-12-31 | RM0.61 | RM1.07 | x |
| 2009-12-31 | RM0.74 | RM1.07 | x |
| 2010-12-31 | RM0.61 | RM1.07 | x |
| 2011-12-31 | RM0.69 | RM1.07 | x |
| 2012-12-31 | RM0.81 | RM1.07 | x |
| 2013-12-31 | RM1.01 | RM1.07 | x |
| 2014-12-31 | RM1.12 | RM1.07 | x |
| 2015-12-31 | RM1.53 | RM1.07 | x |
| 2016-12-31 | RM1.59 | RM1.07 | x |
| 2017-12-31 | RM1.92 | RM1.07 | x |
| 2018-12-31 | RM1.98 | RM1.07 | x |
| 2019-12-31 | RM1.98 | RM1.07 | x |
| 2020-12-31 | RM1.74 | RM1.07 | x |
| 2021-12-31 | RM1.69 | RM1.07 | x |
| 2022-12-31 | RM1.47 | RM1.07 | x |
| 2023-12-31 | RM1.52 | RM1.07 | x |
| 2024-12-31 | RM1.56 | RM1.07 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Mah Sing Group 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): 6.12%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.55%
- • Asset Turnover: 0.33x
- • Equity Multiplier: 1.92x
- Recent ROE (6.12%) is below the historical average (10.28%), 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 | 20.70% | 13.19% | 0.66x | 2.36x | RM33.79 Million |
| 2007 | 12.87% | 14.15% | 0.52x | 1.76x | RM18.09 Million |
| 2008 | 13.50% | 14.30% | 0.54x | 1.74x | RM24.14 Million |
| 2009 | 11.15% | 13.44% | 0.45x | 1.83x | RM9.71 Million |
| 2010 | 12.85% | 10.64% | 0.51x | 2.39x | RM26.18 Million |
| 2011 | 15.71% | 10.73% | 0.55x | 2.66x | RM61.24 Million |
| 2012 | 18.52% | 12.99% | 0.49x | 2.89x | RM106.13 Million |
| 2013 | 14.37% | 13.99% | 0.44x | 2.35x | RM85.39 Million |
| 2014 | 14.95% | 11.68% | 0.55x | 2.34x | RM112.39 Million |
| 2015 | 10.52% | 12.44% | 0.47x | 1.80x | RM19.11 Million |
| 2016 | 9.44% | 12.22% | 0.48x | 1.62x | RM-21.45 Million |
| 2017 | 7.80% | 12.41% | 0.41x | 1.54x | RM-102.22 Million |
| 2018 | 5.64% | 12.38% | 0.32x | 1.43x | RM-210.25 Million |
| 2019 | 4.16% | 11.19% | 0.27x | 1.39x | RM-281.50 Million |
| 2020 | 2.23% | 6.16% | 0.22x | 1.62x | RM-328.65 Million |
| 2021 | 3.91% | 9.17% | 0.25x | 1.71x | RM-250.70 Million |
| 2022 | 5.06% | 7.77% | 0.36x | 1.80x | RM-175.82 Million |
| 2023 | 5.83% | 8.27% | 0.41x | 1.74x | RM-154.25 Million |
| 2024 | 6.12% | 9.55% | 0.33x | 1.92x | RM-152.51 Million |
Industry Comparison
This section compares Mah Sing Group Bhd's net assets metrics with peer companies in the Real Estate - Development industry.
Industry Context
- Industry: Real Estate - Development
- Average net assets among peers: $565,025,416
- Average return on equity (ROE) among peers: 6.05%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Mah Sing Group Bhd (8583) | RM4.03 Billion | 20.70% | 0.89x | $405.47 Million |
| Vinvest Capital Holdings Bhd (0069) | $581.54 Million | 0.67% | 0.36x | $2.71 Million |
| Gagasan Nadi Cergas Berhad (0206) | $442.13 Million | -0.76% | 1.23x | $7.59 Million |
| Vestland Berhad (0273) | $46.45 Million | 22.90% | 2.63x | $15.49 Million |
| KTI (0308) | $127.30 Million | 12.27% | 0.83x | $5.35 Million |
| Global Oriental Bhd (1147) | $255.86 Million | 5.65% | 2.56x | $4.63 Million |
| GuocoLand (Malaysia) Bhd (1503) | $892.00 Million | 4.71% | 1.18x | $21.92 Million |
| Symphony Life Bhd (1538) | $916.62 Million | -0.87% | 0.32x | $11.92 Million |
| Iskandar Waterfront City Bhd (1589) | $812.33 Million | 5.62% | 1.19x | $27.36 Million |
| Paramount Corporation Bhd (1724) | $727.00 Million | 7.43% | 0.79x | $69.73 Million |
| Selangor Dredging Bhd (2224) | $849.02 Million | 2.88% | 0.71x | $9.77 Million |