Pegasus Heights Berhad Q1 2026 Financial Results: Key Insights for Investors

Summary of Results

Pegasus Heights Berhad has released its unaudited condensed consolidated financial statements for the first quarter ended 31 March 2026. The Group reported a continuing loss but showed improvements in several key metrics compared to the previous year’s first quarter.

Key Financial Highlights

• Revenue: RM2.26 million, a decrease of 18% compared to RM2.76 million in the corresponding quarter last year.
• Gross Profit: RM1.21 million (Q1 2025: RM1.33 million).
• Loss Before Taxation (LBT): RM0.57 million, which is a 47.9% improvement from the loss of RM1.10 million in Q1 2025.
• Administrative and Other Expenses: Reduced to RM1.88 million from RM2.48 million in the prior year’s quarter, helping to narrow the loss.
• Finance Cost: RM10,000, substantially lower than RM52,000 in Q1 2025.
• No Taxation: No income tax was provided for the current period.
• Earnings Per Share (EPS): Basic and diluted loss per share remains at (0.01) sen.

Segmental Performance

• Property Management: Remains the main revenue contributor, generating RM1.92 million (Q1 2025: RM2.09 million). Segment result improved to RM324,000 from RM70,000.
• Financial Services: Revenue dropped significantly to RM146,000 (Q1 2025: RM381,000). Segment loss at RM161,000 (Q1 2025: RM98,000 loss).
• Food and Beverage (F&B): Revenue decreased to RM233,000 (Q1 2025: RM356,000) with a segment loss of RM79,000.
• Project Management Consultancy and Investment Holding: Both segments continued to make negligible or negative contributions.

Balance Sheet Overview

• Total Assets: RM124.03 million as at 31 March 2026 (31 December 2025: RM124.56 million).
• Investment Property: Valued at RM110 million, forming the bulk of total assets.
• Cash and Bank Balances: RM6.89 million, down from RM8.30 million at the end of 2025.
• Total Equity: RM116.77 million (Net assets per share: RM0.0108).
• Total Liabilities: RM7.26 million, comprising mainly deferred tax liabilities and trade/other payables.
• Borrowings: Remain low at RM199,000, consisting only of short-term secured borrowings, including a RM10,000 bank overdraft and RM189,000 lease liability.

Cash Flow Statement

• Net Cash Used in Operating Activities: RM1.21 million outflow, reversing from a net inflow of RM1.05 million in Q1 2025, mainly due to higher outflows in payables and lower collections.
• Net Cash Used in Investing Activities: RM145,000, primarily due to the purchase of property, plant, and equipment.
• Net Cash Used in Financing Activities: RM62,000, attributed to lease repayments.
• Cash and Cash Equivalents at End of Period: RM6.88 million.

Other Significant Announcements and Events

• Mall Occupancy: The mall’s occupancy rate dropped 28.8% to 54.12% as of 31 March 2026, following the exit of an anchor tenant. Management is actively seeking new tenants, and this development is potentially price sensitive as it impacts future rental income and the valuation of the property asset.
• F&B Segment: Sales have fallen due to the closure of outlets, with only one remaining operational.
• Financial Services Outlook: Remains stable due to strict credit policies and improved collection performance, which partially offsets the drop in revenue for this segment.
• Private Placement Proposal: On 17 November 2025, the company announced a plan to undertake a private placement of up to 10% new shares of the current issued shares (excluding treasury shares). The issue price will be determined later. This move could be price sensitive as it will dilute existing shareholders and potentially bring in new capital for expansion or working capital needs.
• No Dividends: No interim dividend was paid during the quarter.
• No Major Litigation or Corporate Actions: Except for the private placement, there are no material litigation cases or other major corporate proposals reported.
• Related Party Transactions: RM64,000 paid for rental of premises to a company with a director’s substantial interest.

Noteworthy Observations for Shareholders

• The significant drop in mall occupancy and F&B outlets could impact future revenue and asset value. Shareholders should monitor updates on new tenancy deals and management’s strategies to restore occupancy.
• The proposed private placement could affect share price due to potential dilution, but may also strengthen the company’s cash position if executed at a favorable price and to supportive investors.
• While the group continues to post losses, the narrowing of losses is a positive sign, driven by cost controls and lower finance costs.
• Ongoing efforts to diversify income streams and the stated search for new opportunities are crucial for medium-term recovery and growth.

Outlook

The outlook remains challenging, especially for the property management and F&B segments. The company’s ability to attract new tenants and stabilize its recurring income will be key for future performance. The financial services segment is expected to remain stable, benefiting from prudent credit management.

Disclaimer

This article is prepared for informational purposes only and does not constitute financial advice, a recommendation, or an offer to buy or sell any securities. Investors should consult their financial advisors or conduct independent research before making investment decisions.

Keputusan Kewangan Suku Pertama 2026 Pegasus Heights Berhad: Sorotan Penting untuk Pelabur

Ringkasan Keputusan

Pegasus Heights Berhad telah mengeluarkan penyata kewangan suku tahunan tidak diaudit bagi suku pertama berakhir 31 Mac 2026. Kumpulan terus merekodkan kerugian, tetapi menunjukkan peningkatan dalam beberapa metrik utama berbanding suku pertama tahun sebelumnya.

Sorotan Kewangan Utama

• Perolehan: RM2.26 juta, penurunan 18% berbanding RM2.76 juta pada suku yang sama tahun lalu.
• Keuntungan Kasar: RM1.21 juta (S1 2025: RM1.33 juta).
• Kerugian Sebelum Cukai (LBT): RM0.57 juta, peningkatan 47.9% daripada kerugian RM1.10 juta pada S1 2025.
• Perbelanjaan Pentadbiran dan Lain-lain: Turun kepada RM1.88 juta daripada RM2.48 juta, membantu mengurangkan kerugian.
• Kos Kewangan: RM10,000, jauh lebih rendah berbanding RM52,000 pada S1 2025.
• Tiada Percukaian: Tiada cukai pendapatan diperuntukkan untuk tempoh semasa.
• Pendapatan Sesaham (EPS): Rugi asas dan dicairkan sesaham kekal pada (0.01) sen.

Prestasi Segmen

• Pengurusan Hartanah: Masih menjadi penyumbang utama perolehan, menjana RM1.92 juta (S1 2025: RM2.09 juta). Keputusan segmen meningkat kepada RM324,000 daripada RM70,000.
• Perkhidmatan Kewangan: Perolehan merosot ketara kepada RM146,000 (S1 2025: RM381,000). Kerugian segmen pada RM161,000 (S1 2025: RM98,000 kerugian).
• Makanan & Minuman (F&B): Perolehan menurun kepada RM233,000 (S1 2025: RM356,000) dengan kerugian segmen RM79,000.
• Perundingan Projek dan Pegangan Pelaburan: Keduanya terus memberi sumbangan negatif atau tidak signifikan.

Tinjauan Kunci Kira-kira

• Jumlah Aset: RM124.03 juta setakat 31 Mac 2026 (31 Disember 2025: RM124.56 juta).
• Hartanah Pelaburan: Bernilai RM110 juta, membentuk sebahagian besar aset.
• Tunai dan Baki Bank: RM6.89 juta, turun dari RM8.30 juta pada akhir 2025.
• Jumlah Ekuiti: RM116.77 juta (Aset bersih sesaham: RM0.0108).
• Jumlah Liabiliti: RM7.26 juta, terdiri terutamanya daripada liabiliti cukai tertunda dan pemiutang perdagangan/lain-lain.
• Pinjaman: Rendah pada RM199,000, terdiri daripada pinjaman bercagar jangka pendek, termasuk overdraf bank RM10,000 dan liabiliti pajakan RM189,000.

Penyata Aliran Tunai

• Aliran Tunai Bersih Digunakan dalam Aktiviti Operasi: Keluar RM1.21 juta, berbeza daripada aliran masuk bersih RM1.05 juta pada S1 2025, terutamanya disebabkan aliran keluar pemiutang dan kutipan yang lebih rendah.
• Aliran Tunai Bersih Digunakan untuk Aktiviti Pelaburan: RM145,000, terutamanya untuk pembelian hartanah, loji, dan peralatan.
• Aliran Tunai Bersih Digunakan untuk Aktiviti Pembiayaan: RM62,000, disebabkan pembayaran balik pajakan.
• Tunai dan Setara Tunai pada Akhir Tempoh: RM6.88 juta.

Perkara Penting & Sensitif Harga untuk Pemegang Saham

• Kadar Penghunian Pusat Membeli-belah: Jatuh 28.8% kepada 54.12% ekoran keluarnya penyewa utama. Pihak pengurusan sedang giat mencari penyewa baru. Perkembangan ini boleh mempengaruhi harga saham kerana ia memberi impak kepada pendapatan sewaan dan nilai aset hartanah.
• Segmen F&B: Jualan menurun kerana penutupan outlet, kini hanya satu outlet yang beroperasi.
• Cadangan Penempatan Saham Swasta: Pada 17 November 2025, syarikat mengumumkan cadangan penempatan sehingga 10% saham baru daripada jumlah saham terbitan. Harga terbitan akan diumumkan kemudian. Ini mungkin mempengaruhi harga saham kerana ia akan mencairkan pegangan sedia ada dan mungkin membawa masuk modal baru.
• Tiada Dividen Interim: Tiada dividen interim dibayar dalam suku ini.
• Tiada Litigasi atau Tindakan Korporat Utama: Selain penempatan saham swasta, tiada litigasi material atau cadangan korporat lain yang dilaporkan.
• Urus Niaga Pihak Berkaitan: RM64,000 untuk sewaan premis kepada syarikat yang berkepentingan dengan pengarah.

Perhatian untuk Pemegang Saham

• Kejatuhan kadar penghunian pusat membeli-belah dan outlet F&B boleh memberi impak kepada pendapatan masa depan dan nilai aset. Pemegang saham harus mengikuti perkembangan mengenai penyewa baru dan strategi pengurusan.
• Cadangan penempatan saham baru boleh memberi kesan kepada harga saham kerana pencairan, namun mungkin memperkukuh kedudukan tunai syarikat jika dilaksanakan secara strategik.
• Walaupun syarikat terus mencatatkan kerugian, pengurangan kerugian adalah perkembangan positif hasil kawalan kos dan pengurangan kos kewangan.
• Usaha berterusan untuk mempelbagaikan pendapatan dan mencari peluang baru adalah penting untuk pemulihan dan pertumbuhan jangka sederhana.

Tinjauan

Tinjauan kekal mencabar, terutamanya untuk segmen pengurusan hartanah dan F&B. Keupayaan syarikat untuk menarik penyewa baru dan menstabilkan pendapatan berulang akan menjadi kunci prestasi masa depan. Segmen perkhidmatan kewangan dijangka stabil dengan pengurusan kredit yang berhemah.

Penafian

Artikel ini disediakan untuk tujuan maklumat sahaja dan bukan merupakan nasihat kewangan, cadangan, atau tawaran untuk membeli atau menjual sekuriti. Pelabur dinasihatkan untuk mendapatkan nasihat kewangan profesional atau menjalankan penyelidikan sendiri sebelum membuat keputusan pelaburan.

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