Mah Sing Group Bhd (8583) - Net Assets
Based on the latest financial reports, Mah Sing Group Bhd (8583) has net assets worth RM4.03 Billion MYR (≈ $1.01 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM8.05 Billion ≈ $2.02 Billion USD) and total liabilities (RM4.03 Billion ≈ $1.01 Billion 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. Also explore 8583 asset base for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | RM4.03 Billion |
| % of Total Assets | 49.99% |
| Annual Growth Rate | 14.34% |
| 5-Year Change | -1.21% |
| 10-Year Change | 6.55% |
| Growth Volatility | 26.76 |
Mah Sing Group Bhd - Net Assets Trend (2006–2025)
This chart illustrates how Mah Sing Group Bhd's net assets have evolved over time, based on quarterly financial data. Check 8583 tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Mah Sing Group Bhd (2006–2025)
The table below shows the annual net assets of Mah Sing Group Bhd from 2006 to 2025. For live valuation and market cap data, see 8583 market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | RM4.09 Billion ≈ $1.03 Billion |
+2.82% |
| 2024-12-31 | RM3.98 Billion ≈ $998.06 Million |
+6.54% |
| 2023-12-31 | RM3.73 Billion ≈ $936.76 Million |
+4.01% |
| 2022-12-31 | RM3.59 Billion ≈ $900.62 Million |
-13.30% |
| 2021-12-31 | RM4.14 Billion ≈ $1.04 Billion |
-2.45% |
| 2020-12-31 | RM4.24 Billion ≈ $1.06 Billion |
-12.12% |
| 2019-12-31 | RM4.83 Billion ≈ $1.21 Billion |
+0.06% |
| 2018-12-31 | RM4.82 Billion ≈ $1.21 Billion |
+3.79% |
| 2017-12-31 | RM4.65 Billion ≈ $1.17 Billion |
+21.15% |
| 2016-12-31 | RM3.84 Billion ≈ $963.12 Million |
+4.13% |
| 2015-12-31 | RM3.68 Billion ≈ $924.95 Million |
+61.70% |
| 2014-12-31 | RM2.28 Billion ≈ $572.01 Million |
+16.05% |
| 2013-12-31 | RM1.96 Billion ≈ $492.91 Million |
+56.44% |
| 2012-12-31 | RM1.26 Billion ≈ $315.09 Million |
+15.30% |
| 2011-12-31 | RM1.09 Billion ≈ $273.28 Million |
+16.23% |
| 2010-12-31 | RM936.46 Million ≈ $235.11 Million |
+9.72% |
| 2009-12-31 | RM853.47 Million ≈ $214.28 Million |
+22.52% |
| 2008-12-31 | RM696.61 Million ≈ $174.90 Million |
+9.57% |
| 2007-12-31 | RM635.77 Million ≈ $159.62 Million |
+98.49% |
| 2006-12-31 | RM320.30 Million ≈ $80.42 Million |
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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 1639.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM2.20 Billion | 54.00% |
| Common Stock | RM1.88 Billion | 46.11% |
| Other Comprehensive Income | RM-4.32 Million | -0.11% |
| Total Equity | RM4.07 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 |
|---|---|
|
Ton Yi Industrial Corp
TW:9907
|
$726.38 Million |
|
Zhiyang Innovation Technology Co. Ltd. A
SHG:688191
|
$726.43 Million |
|
Marssenger Kitchenware Co. Ltd.
SHE:300894
|
$726.50 Million |
|
Chongqing Constr Engineering
SHG:600939
|
$726.60 Million |
|
Delta Israel Brands Ltd
TA:DLTI
|
$726.00 Million |
|
National Grid PLC
LSE:NG
|
$725.83 Million |
|
Woori Technology Inc
KQ:032820
|
$725.83 Million |
|
Episil Holding
TWO:3707
|
$725.62 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 2024 to 2025, total equity changed from 3,932,563,000 to 4,068,827,000, a change of 136,264,000 (3.5%).
- Net income of 260,077,000 contributed positively to equity growth.
- Dividend payments of 115,206,000 reduced retained earnings.
- Other comprehensive income decreased equity by 8,606,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM260.08 Million | +6.39% |
| Dividends Paid | RM115.21 Million | -2.83% |
| Other Comprehensive Income | RM-8.61 Million | -0.21% |
| Other Changes | RM-1.00K | -0.0% |
| Total Change | RM- | 3.47% |
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: 0.71x
- 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 3.74x to 0.71x 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 | RM1.13 | x |
| 2007-12-31 | RM0.60 | RM1.13 | x |
| 2008-12-31 | RM0.61 | RM1.13 | x |
| 2009-12-31 | RM0.74 | RM1.13 | x |
| 2010-12-31 | RM0.61 | RM1.13 | x |
| 2011-12-31 | RM0.69 | RM1.13 | x |
| 2012-12-31 | RM0.81 | RM1.13 | x |
| 2013-12-31 | RM1.01 | RM1.13 | x |
| 2014-12-31 | RM1.12 | RM1.13 | x |
| 2015-12-31 | RM1.53 | RM1.13 | x |
| 2016-12-31 | RM1.59 | RM1.13 | x |
| 2017-12-31 | RM1.92 | RM1.13 | x |
| 2018-12-31 | RM1.98 | RM1.13 | x |
| 2019-12-31 | RM1.98 | RM1.13 | x |
| 2020-12-31 | RM1.74 | RM1.13 | x |
| 2021-12-31 | RM1.69 | RM1.13 | x |
| 2022-12-31 | RM1.47 | RM1.13 | x |
| 2023-12-31 | RM1.52 | RM1.13 | x |
| 2024-12-31 | RM1.56 | RM1.13 | x |
| 2025-12-31 | RM1.59 | RM1.13 | 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): 6.39%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 10.33%
- • Asset Turnover: 0.31x
- • Equity Multiplier: 1.98x
- Recent ROE (6.39%) is below the historical average (10.09%), 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 |
| 2025 | 6.39% | 10.33% | 0.31x | 1.98x | RM-146.81 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: $530,992,858
- Average return on equity (ROE) among peers: 0.59%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Mah Sing Group Bhd (8583) | RM4.03 Billion | 20.70% | 1.00x | $726.33 Million |
| Vinvest Capital Holdings Bhd (0069) | $446.12 Million | 1.75% | 0.11x | $3.65 Million |
| Gagasan Nadi Cergas Berhad (0206) | $378.75 Million | 8.60% | 1.40x | $59.55 Million |
| Vestland Berhad (0273) | $46.45 Million | 22.90% | 2.63x | $165.96 Million |
| Global Oriental Bhd (1147) | $253.00 Million | 11.86% | 2.00x | $9.70 Million |
| Pan Malaysia Holdings Bhd (1287) | $70.00 Million | -55.71% | 0.36x | $250.70 Million |
| GuocoLand (Malaysia) Bhd (1503) | $1.39 Billion | 4.78% | 1.04x | $185.02 Million |
| Symphony Life Bhd (1538) | $583.91 Million | 2.26% | 0.94x | $31.45 Million |
| Iskandar Waterfront City Bhd (1589) | $553.00 Million | 1.27% | 1.39x | $54.35 Million |
| Paramount Corporation Bhd (1724) | $727.00 Million | 7.43% | 0.79x | $157.92 Million |
| Selangor Dredging Bhd (2224) | $860.80 Million | 0.73% | 0.61x | $49.21 Million |
About Mah Sing Group Bhd
Mah Sing Group Berhad, an investment holding company, engages in the property development and manufacturing businesses in Malaysia, Indonesia, Singapore, Australia, Africa, the Philippines, the United States, Turkey, Vietnam, Thailand, and internationally. It operates through Property, Manufacturing, and Investment Holding and Others segments. The Property segment invests in and develops resident… Read more