Oasis Harvest Corporation Berhad Q1 2026 Results: Key Highlights and Investor Analysis
Summary of Financial Performance
- Revenue Surge: The Group reported a significant increase in revenue to RM13.9 million for the quarter ended 31 March 2026, compared to RM2.7 million in the same period last year. This growth was primarily driven by the inclusion of results from newly acquired subsidiaries, Metta and Contagious, contributing approximately RM12 million in revenue.
- Net Loss: Despite the revenue jump, the Group posted a net loss of RM2.39 million for the quarter, widening from a loss of RM0.97 million in Q1 2025. Loss per share stood at 1.61 sen, compared to 0.64 sen previously.
- Improved Quarter-on-Quarter Results: Compared to the preceding quarter (Q4 2025), the loss before tax shrank dramatically from RM13.18 million to RM2.31 million. The prior quarter’s loss was mainly due to a one-off goodwill impairment of RM10.8 million, meaning the current loss is less severe and mainly operational in nature.
Balance Sheet and Cash Flow Position
- Total Assets: RM70.96 million as at 31 March 2026, with non-current assets (mainly property, plant, equipment, and intangible assets) of RM53.95 million.
- Cash Position: Cash and cash equivalents declined from RM3.02 million as at 31 December 2025 to RM1.43 million, reflecting operational and financing outflows.
- Borrowings: Total secured borrowings stand at RM24.38 million (short term: RM2.76 million, long term: RM21.62 million).
- Net Assets Per Share: 9.1 sen, down from 10.8 sen at year-end 2025.
- Operating Cash Flow: Generated RM1.16 million net cash from operating activities, while investing and financing activities used cash (notably, RM0.82 million for investments and RM1.93 million for loan/lease repayments).
Segmental Performance
- Main Revenue Drivers: The Food and Beverage (F&B) segment is now the main revenue driver (RM12.6 million), followed by Central Kitchen (RM1.08 million) and Trading (RM11,000). Palm oil milling and investment holding contributed no significant revenue and posted segment losses.
- Geographic Focus: All revenue was derived from Malaysia.
Recent Corporate Developments and Strategic Moves
- Acquisitions:
- Completed the acquisition of 80% of Contagious (Malaysia) Sdn Bhd in January 2026, which has become a subsidiary of the Group.
- Incorporated two new wholly-owned subsidiaries: Oasis Venture Catering Sdn Bhd (catering business) and Warisan Kopi International Sdn Bhd (restaurant operations) in January and March 2026, respectively.
- Proposed Corporate Exercises (Announced April 2026):
- Diversification into event management and public relations services.
- Renounceable rights issue of up to 73.6 million new shares at RM0.10 each, with free detachable warrants (1 warrant for every rights share) at the same exercise price. This is a potentially major equity raising exercise that could significantly impact share capital, liquidity, and control.
- Proposed exemption for key shareholders (Dato’ Sri Tan Ooi Han, Oasis Harvest Holdings Sdn Bhd, and PACs) from mandatory takeover obligations following the rights issue and warrant exercise.
- The listing application for these proposals has been submitted to Bursa Malaysia.
Legal and Litigation Matters
- Material Litigation: The Group is involved in a material lawsuit. The Kuching High Court has entered a judgment in default against the Group for RM4.2 million. The Company’s application to set aside the order was dismissed and is now under appeal. A stay of execution has also been applied for, but both matters remain pending. If unsuccessful, additional costs between RM5,000 and RM30,000 per application/appeal may be incurred. This lawsuit could have a negative financial impact should the final outcome not favour the company.
Operational and Strategic Outlook
- The Group expects continued strong performance from its F&B segment, leveraging the strong brand recognition of Café Chef Wan and De.Wan 1958 for geographical expansion into secondary cities and for mass-market positioning to drive higher volumes.
- The Group is focusing on lean operations post a “house-cleaning” exercise in 2025 and aims to leverage its recent business acquisitions to accelerate growth.
Other Notable Items
- No Dividends: No dividends were declared or proposed for the quarter.
- No Unusual Items/Changes: No unusual items, changes in estimates, or significant off-balance sheet financial instruments were reported.
- Capital Commitments: Minor capital expenditure of RM72,000 approved and contracted for a motor vehicle.
Potential Share Price Movers
- Rights Issue and Warrants: The proposed rights issue with free warrants and diversification into new business lines could have a significant impact on share base, control, and future earnings potential. This is a major development that shareholders should closely monitor.
- Litigation Risk: The outstanding legal case with a judgment in default of over RM4 million remains a potential liability, and any adverse outcome could negatively affect the Group’s net assets and cash flow.
- Revenue Growth vs. Profitability: The dramatic revenue increase has not yet translated into profitability, but if the F&B strategy plays out as planned, there is a path to future profit recovery.
- Acquisitions: The successful integration of Contagious and new subsidiaries into the Group’s operations could unlock new revenue streams but also comes with execution risks.
Disclaimer
This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own analysis or consult with a licensed advisor before making investment decisions. The author and publisher are not responsible for investment actions taken based on this article.
Versi Bahasa Malaysia
Prestasi Kewangan Suku Pertama 2026 Oasis Harvest Corporation Berhad: Laporan Terperinci untuk Pelabur
Sorotan Utama
- Peningkatan Hasil: Kumpulan mencatatkan kenaikan hasil ketara kepada RM13.9 juta bagi suku berakhir 31 Mac 2026, berbanding RM2.7 juta pada tempoh sama tahun lalu. Pertumbuhan ini didorong oleh penyatuan hasil daripada syarikat Metta dan Contagious yang baru diambil alih.
- Kerugian Bersih: Kumpulan melaporkan kerugian bersih sebanyak RM2.39 juta, meningkat dari kerugian RM0.97 juta pada Q1 2025. Kerugian sesaham ialah 1.61 sen, berbanding 0.64 sen sebelum ini.
- Peningkatan Banding Suku Sebelumnya: Berbanding suku sebelumnya (Q4 2025), kerugian sebelum cukai menurun dengan ketara daripada RM13.18 juta kepada RM2.31 juta. Suku sebelumnya dipengaruhi oleh pelunasan sekali gus (goodwill impairment) sebanyak RM10.8 juta.
Kedudukan Kewangan dan Aliran Tunai
- Aset Keseluruhan: RM70.96 juta setakat 31 Mac 2026, dengan aset bukan semasa RM53.95 juta.
- Kedudukan Tunai: Tunai dan setara menurun daripada RM3.02 juta kepada RM1.43 juta.
- Pinjaman: Jumlah pinjaman terjamin RM24.38 juta (jangka pendek: RM2.76 juta, jangka panjang: RM21.62 juta).
- Aset Bersih Sesaham: 9.1 sen, turun dari 10.8 sen pada akhir 2025.
- Aliran Tunai Operasi: Menjana RM1.16 juta daripada operasi tetapi menggunakan tunai untuk pelaburan dan pembayaran balik pinjaman/lease.
Prestasi Segmen
- Pemacu Utama Hasil: Segmen Makanan & Minuman (F&B) kini menjadi pemacu utama hasil (RM12.6 juta), diikuti oleh Central Kitchen (RM1.08 juta) dan Perdagangan (RM11,000). Segmen sawit dan pegangan pelaburan mengalami kerugian.
- Fokus Geografi: Semua hasil diperoleh dari Malaysia.
Perkembangan Korporat & Strategik
- Pemerolehan:
- Pemerolehan 80% Contagious (Malaysia) Sdn Bhd pada Januari 2026.
- Penubuhan dua anak syarikat: Oasis Venture Catering Sdn Bhd dan Warisan Kopi International Sdn Bhd.
- Cadangan Korporat:
- Diversifikasi ke perkhidmatan pengurusan acara dan perhubungan awam.
- Terbitan hak (rights issue) sehingga 73.6 juta saham baru bersama waran percuma, pada harga terbitan RM0.10 sesaham dan harga waran yang sama. Ini adalah langkah utama penjanaan modal yang boleh mempengaruhi kecairan dan kawalan syarikat.
- Pengecualian pengambilalihan mandatori untuk pemegang saham utama selepas terbitan hak dan pelaksanaan waran.
- Permohonan penyenaraian telah dihantar ke Bursa Malaysia.
Litigasi dan Risiko Undang-Undang
- Tindakan Mahkamah: Syarikat terlibat dalam saman dengan penghakiman default sebanyak RM4.2 juta. Rayuan dan permohonan tangguh pelaksanaan sedang diproses. Jika gagal, kos tambahan antara RM5,000 hingga RM30,000 mungkin ditanggung. Ini boleh memberi kesan negatif kewangan sekiranya keputusan tidak memihak kepada syarikat.
Prospek dan Strategi
- Kumpulan yakin prestasi segmen F&B akan kekal kukuh dengan pengembangan ke bandar kedua dan pelancaran ke pasaran massa.
- Penekanan kepada operasi lebih cekap selepas penstrukturan semula pada 2025 dan integrasi pemerolehan baru.
Perkara Lain
- Tiada Dividen: Tiada dividen diisytiharkan atau dicadangkan bagi suku ini.
- Tiada Perkara Luar Biasa/Perubahan Anggaran: Tiada item luar biasa dilaporkan.
- Komitmen Modal: Perbelanjaan modal kecil RM72,000 untuk kenderaan bermotor.
Faktor Yang Boleh Mempengaruhi Harga Saham
- Terbitan Hak & Waran: Cadangan terbitan hak dan waran percuma serta diversifikasi perniagaan baharu boleh memberi kesan ketara kepada modal, kawalan, dan potensi pendapatan masa depan.
- Risiko Litigasi: Kes mahkamah yang belum selesai boleh memberi kesan kewangan negatif sekiranya keputusan tidak memihak kepada syarikat.
- Pertumbuhan Hasil vs Keuntungan: Kenaikan hasil yang ketara belum diterjemah kepada keuntungan, tetapi jika strategi F&B berjaya, ada potensi pemulihan keuntungan akan datang.
- Pemerolehan: Integrasi Metta dan Contagious yang berjaya boleh membuka aliran hasil baru, namun mempunyai risiko pelaksanaan.
Penafian
Artikel ini hanya untuk tujuan makluman dan bukan nasihat pelaburan. Pelabur digalakkan membuat analisis sendiri atau berbincang dengan penasihat berlesen sebelum membuat keputusan pelaburan. Penulis dan penerbit tidak bertanggungjawab atas sebarang tindakan pelaburan berdasarkan artikel ini.
