Hengyuan Refining Company Bhd (4324) — Working Capital to Net Assets Ratio
Hengyuan Refining Company Bhd (4324) has a Working Capital to Net Assets ratio of -116.4% as of September 2025. Working capital of RM-903.58 Million (current assets of RM2.32 Billion minus current liabilities of RM3.22 Billion) is measured against net assets of RM776.30 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See Hengyuan Refining Company Bhd free cash flow to debt ratio to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Hengyuan Refining Company Bhd Working Capital to Net Assets (2012–2024)
This chart shows how Hengyuan Refining Company Bhd's Working Capital to Net Assets ratio has evolved across 13 annual periods from 2012 to 2024. As of September 2025, the ratio stands at -116.4%, reflecting working capital of RM-903.58 Million against net assets of RM776.30 Million MYR. See Hengyuan Refining Company Bhd defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Hengyuan Refining Company Bhd (2012–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for Hengyuan Refining Company Bhd from 2012 to 2024, covering 13 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see market value of Hengyuan Refining Company Bhd.
| Year | WC/NA Ratio | Working Capital (MYR) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | -60.1% | RM-691.65 Million | RM1.15 Billion | RM1.56 Billion | RM2.25 Billion | ▼ -29.1 pp |
| 2023 | -31.1% | RM-435.77 Million | RM1.40 Billion | RM3.29 Billion | RM3.73 Billion | ▼ -11.6 pp |
| 2022 | -19.5% | RM-268.06 Million | RM1.37 Billion | RM4.26 Billion | RM4.53 Billion | ▼ -45.9 pp |
| 2021 | 26.4% | RM542.33 Million | RM2.05 Billion | RM3.45 Billion | RM2.91 Billion | ▼ -12.0 pp |
| 2020 | 38.5% | RM833.94 Million | RM2.17 Billion | RM2.47 Billion | RM1.63 Billion | ▲ +23.8 pp |
| 2019 | 14.6% | RM805.46 Million | RM5.51 Billion | RM3.68 Billion | RM2.88 Billion | ▼ -45.7 pp |
| 2018 | 60.3% | RM1.22 Billion | RM2.02 Billion | RM2.73 Billion | RM1.51 Billion | ▼ -61.5 pp |
| 2017 | 121.9% | RM2.18 Billion | RM1.79 Billion | RM2.88 Billion | RM695.41 Million | ▼ -20.2 pp |
| 2016 | 142.1% | RM1.44 Billion | RM1.01 Billion | RM2.17 Billion | RM739.20 Million | ▲ +127.9 pp |
| 2015 | 14.2% | RM95.91 Million | RM677.09 Million | RM1.92 Billion | RM1.82 Billion | ▲ +32.9 pp |
| 2014 | -18.8% | RM-61.00 Million | RM325.00 Million | RM1.59 Billion | RM1.65 Billion | ▼ -87.4 pp |
| 2013 | 68.7% | RM1.04 Billion | RM1.51 Billion | RM2.73 Billion | RM1.70 Billion | ▼ -4.0 pp |
| 2012 | 72.7% | RM1.24 Billion | RM1.71 Billion | RM2.42 Billion | RM1.18 Billion | — |