B.I.G. Industries Berhad Reports Strong Growth in Gas Division Amid Competitive Challenges
Financial Highlights for Q3 Ended 31 March 2026
- Revenue Surge: The Group recorded a robust revenue of RM12.479 million for the quarter, a remarkable 83.87% growth from RM6.787 million a year ago. For the nine-month period, revenue increased 9.23% to RM31.928 million from RM29.229 million.
- Profit Before Tax: Profit before tax for the quarter soared to RM0.469 million (up 398.94% from RM0.094 million). Year-to-date, profit before tax was RM5.031 million, up 22.65% compared to RM4.102 million previously.
- Net Profit and Comprehensive Income: The Group reported net profit of RM299,000 for the quarter (down 22.54% YoY), and RM3.842 million for the nine-month period (up 4.18% YoY).
- Basic Earnings Per Share: EPS for the quarter from continuing operations was 0.47 sen (down from 0.60 sen). Year-to-date, EPS is 6.05 sen, higher than 5.66 sen in the preceding year.
- Net Assets Per Share: Net assets per share rose to RM0.85 from RM0.79.
Segmental Performance
Gas Division
- Exceptional Growth: Gas Division revenue jumped 91.98% for the quarter, driven by higher liquefied gas sales from short-term supply contracts with major oil and gas customers.
- Turnaround in Profitability: The division reported profit before tax of RM0.315 million for the quarter, compared to a loss of RM0.390 million last year.
- Full Period Performance: For the nine months, Gas Division revenue increased 28.27% to RM30.416 million, with profit before tax rising 65.56% to RM4.841 million.
- One-Off Gain: The division benefitted from a one-off gain of RM1.143 million from the disposal of land and building in Labuan, recognized in the previous quarter.
- Product Mix Shift: Liquefied gas sales were the main driver, offsetting declines in cylinder gas and other gases.
Property Division
- Modest Revenue Increase for Quarter: Property Division revenue rose 14.16% to RM0.805 million for the quarter.
- Significant Decline for Nine Months: Revenue for the nine-month period fell sharply by 72.59%, reflecting weaker demand and fewer project completions.
- Profit Decline: Profit before tax for the quarter fell to RM0.146 million from RM0.533 million last year. Year-to-date profit before tax was RM0.192 million, significantly lower than RM1.414 million previously, due to higher operating expenses and lower revenue.
- Future Project: The Kidurong 12 Industrial Project @ Bintulu is pending regulatory approval. This new development could be a catalyst if approved.
Balance Sheet and Cash Flow
- Strong Asset Base: Total assets increased to RM71.638 million from RM66.948 million.
- Improved Equity: Shareholders’ equity grew to RM54.009 million from RM50.167 million.
- Cash Position: Cash and bank balances were RM5.093 million (down from RM18.693 million a year ago), with RM2.945 million available after security deposits.
- Borrowings: Total borrowings increased to RM3.416 million from RM2.512 million, mainly due to new term loans and hire purchase financing.
- Capital Commitments: The Group has capital expenditure approved and contracted but not provided for of RM25.721 million, mainly for building, warehouse, and property, plant & equipment.
- Cash Flow: Net cash used in operating activities was RM1.584 million for the nine months, compared to a net inflow of RM10.241 million a year ago. Investing and financing activities also saw net outflows, reflecting ongoing capital investments and debt repayments.
Other Key Information for Shareholders
- Dividend: No interim dividend has been declared for the quarter.
- Related Party Transactions: Various related party expenses (rental, management, and consultancy fees) were incurred, but all were done on normal commercial terms.
- No Material Litigation: There is no ongoing material litigation against the Group.
- No Corporate Actions: No new corporate proposals or share issues during the quarter.
- Taxation: Effective tax rate is lower due to capital allowances and trading losses at certain subsidiaries.
Potential Share Price Movers
- Gas Division Growth: The exceptional performance and profit turnaround in the Gas Division, driven by lucrative supply contracts, is a key positive for investors. Sustained demand from oil and gas customers could support share price.
- One-Off Gain: The RM1.143 million gain from asset disposal, though recognized in the previous quarter, contributed to higher profits, potentially affecting investor sentiment.
- Property Division Weakness: The sharp decline in Property Division revenue and profit may weigh on the share price unless new projects like Kidurong 12 Industrial Project receive approval and kick off.
- Capital Commitments: Large capital expenditure commitments signal future growth, but also pose risks if not managed efficiently.
- Cash Flow Concerns: Significant cash outflows in both operating and investing activities may raise questions about liquidity and funding going forward.
Outlook and Prospects
The Group is cautiously optimistic for the upcoming quarter, with ongoing demand from oil and gas sector expected to support the Gas Division. However, competitive pressures, energy price volatility, and economic uncertainties may impact margins. The Property Division’s next development is pending approval, which could be a future catalyst.
Disclaimer
This article is for informational purposes only and does not constitute investment advice. Investors should review the full financial statements and consult with their financial advisor before making any investment decisions.
B.I.G. Industries Berhad Laporkan Pertumbuhan Kukuh dalam Bahagian Gas di Tengah Cabaran Kompetitif
Sorotan Kewangan untuk Suku Ketiga Berakhir 31 Mac 2026
- Peningkatan Pendapatan: Kumpulan mencatatkan pendapatan kukuh sebanyak RM12.479 juta untuk suku ini, peningkatan 83.87% daripada RM6.787 juta tahun lalu. Untuk sembilan bulan, pendapatan meningkat 9.23% kepada RM31.928 juta.
- Keuntungan Sebelum Cukai: Keuntungan sebelum cukai melonjak ke RM0.469 juta (naik 398.94% daripada RM0.094 juta). Tahun ke tahun, keuntungan sebelum cukai adalah RM5.031 juta, naik 22.65% berbanding RM4.102 juta sebelumnya.
- Keuntungan Bersih dan Pendapatan Komprehensif: Kumpulan melaporkan keuntungan bersih RM299,000 untuk suku ini (turun 22.54% YoY), dan RM3.842 juta untuk sembilan bulan (naik 4.18% YoY).
- EPS Asas: Pendapatan sesaham untuk suku dari operasi berterusan ialah 0.47 sen (turun daripada 0.60 sen). Tahun ke tahun, EPS ialah 6.05 sen, lebih tinggi daripada 5.66 sen sebelumnya.
- Aset Bersih Sesaham: Aset bersih sesaham meningkat kepada RM0.85 daripada RM0.79.
Prestasi Segmen
Bahagian Gas
- Pertumbuhan Luar Biasa: Pendapatan Bahagian Gas melonjak 91.98% untuk suku ini, didorong oleh jualan gas cecair yang lebih tinggi dari kontrak bekalan jangka pendek dengan pelanggan utama minyak dan gas.
- Pemulihan Keuntungan: Bahagian ini melaporkan keuntungan sebelum cukai RM0.315 juta untuk suku ini, berbanding kerugian RM0.390 juta tahun lalu.
- Prestasi Sepanjang Tempoh: Untuk sembilan bulan, pendapatan Bahagian Gas meningkat 28.27% kepada RM30.416 juta, dengan keuntungan sebelum cukai naik 65.56% kepada RM4.841 juta.
- Keuntungan Sekali: Bahagian ini mendapat keuntungan sekali RM1.143 juta dari penjualan tanah dan bangunan di Labuan, yang diiktiraf pada suku sebelumnya.
- Pergeseran Produk: Jualan gas cecair menjadi pemacu utama, mengimbangi penurunan gas silinder dan gas lain.
Bahagian Hartanah
- Peningkatan Pendapatan Suku: Pendapatan Bahagian Hartanah meningkat 14.16% kepada RM0.805 juta untuk suku ini.
- Penurunan Signifikan Sepanjang Tempoh: Pendapatan untuk sembilan bulan jatuh 72.59%, mencerminkan permintaan yang lemah dan kurang projek siap.
- Penurunan Keuntungan: Keuntungan sebelum cukai untuk suku ini turun ke RM0.146 juta daripada RM0.533 juta tahun lalu. Tahun ke tahun, keuntungan sebelum cukai ialah RM0.192 juta, jauh lebih rendah daripada RM1.414 juta sebelumnya.
- Projek Masa Depan: Projek Kidurong 12 Industrial @ Bintulu masih menunggu kelulusan. Jika diluluskan, ini boleh menjadi pemacu masa depan.
Kunci Kewangan, Aliran Tunai & Komitmen Modal
- Asas Aset Kukuh: Jumlah aset meningkat kepada RM71.638 juta daripada RM66.948 juta.
- Ekuiti Pemegang Saham Meningkat: Ekuiti pemegang saham naik kepada RM54.009 juta daripada RM50.167 juta.
- Kedudukan Tunai: Tunai dan baki bank RM5.093 juta (turun daripada RM18.693 juta tahun lalu), dengan RM2.945 juta tersedia selepas deposit keselamatan.
- Pinjaman: Jumlah pinjaman meningkat kepada RM3.416 juta daripada RM2.512 juta, terutamanya disebabkan pinjaman baru dan pembiayaan sewa beli.
- Komitmen Modal: Perbelanjaan modal yang diluluskan dan dikontrak tetapi tidak diperuntukkan ialah RM25.721 juta, terutamanya untuk bangunan, gudang, dan peralatan.
- Aliran Tunai: Aliran tunai bersih dari operasi ialah RM1.584 juta (keluar) untuk sembilan bulan, berbanding aliran masuk RM10.241 juta tahun lalu. Aktiviti pelaburan dan pembiayaan juga mengalami aliran keluar, menunjukkan pelaburan berterusan dan pembayaran hutang.
Maklumat Penting untuk Pemegang Saham
- Dividen: Tiada dividen interim diumumkan untuk suku ini.
- Urusan Pihak Berkaitan: Pelbagai perbelanjaan pihak berkaitan (sewa, pengurusan, dan konsultansi) dilakukan pada terma komersial biasa.
- Tiada Litigasi Penting: Tiada litigasi penting terhadap Kumpulan.
- Tiada Tindakan Korporat: Tiada cadangan korporat atau terbitan saham baru semasa suku ini.
- Cukai: Kadar cukai efektif lebih rendah kerana elaun modal dan kerugian dagangan di beberapa subsidiari.
Faktor Berpotensi Menggerakkan Harga Saham
- Pertumbuhan Bahagian Gas: Prestasi kukuh dan pemulihan keuntungan Bahagian Gas, didorong kontrak bekalan yang menguntungkan, adalah positif untuk pelabur.
- Keuntungan Sekali: Keuntungan RM1.143 juta dari penjualan aset, walaupun diiktiraf pada suku sebelumnya, menyumbang kepada keuntungan lebih tinggi.
- Kelemahan Bahagian Hartanah: Penurunan mendadak pendapatan dan keuntungan Bahagian Hartanah boleh memberi tekanan pada harga saham kecuali projek baru diluluskan.
- Komitmen Modal: Komitmen modal besar menandakan pertumbuhan masa depan tetapi juga risiko jika tidak diurus dengan berkesan.
- Kebimbangan Aliran Tunai: Aliran keluar tunai yang signifikan boleh menimbulkan persoalan tentang kecairan dan pembiayaan pada masa hadapan.
Prospek dan Pandangan
Kumpulan tetap berhati-hati optimistik untuk suku akan datang, dengan permintaan berterusan dari sektor minyak dan gas dijangka menyokong Bahagian Gas. Namun, persaingan, turun naik harga tenaga, dan ketidakpastian ekonomi boleh menjejaskan margin. Projek hartanah seterusnya masih menunggu kelulusan, yang boleh menjadi pemacu masa depan.
Penafian
Artikel ini adalah untuk tujuan maklumat sahaja dan tidak merupakan nasihat pelaburan. Pelabur disarankan meneliti penyata kewangan penuh dan berbincang dengan penasihat kewangan sebelum membuat keputusan pelaburan.
