Tex Cycle Technology (M) Berhad Q1 2026 Financial Report: In-Depth Analysis for Investors
Key Points and Highlights
- Revenue Surge: The Group’s revenue for Q1 2026 reached RM20.61 million, marking a significant increase of 132% compared to RM8.89 million in Q1 2025. This growth is primarily attributed to heightened sales demand from the recycling and recovery division, as well as contributions from the newly acquired subsidiary, Meridian World Sdn Bhd.
- Profit Before Taxation: Profit before tax rose to RM3.96 million, up 55% from RM2.55 million in the same period last year.
- Segmental Performance:
- Recycling and Recovery Division: Revenue grew by RM11.7 million (178%) due to increased demand and Meridian’s contribution.
- Trading Division: Revenue increased by RM0.1 million (62%), mainly due to higher sales demand.
- Renewable Energy Division: Revenue decreased by 10% (RM0.2 million), impacted by lower solar generation and the sale of solar panel equipment due to factory relocation.
- Manufacturing Division: No sales recorded in both Q1 2026 and Q1 2025.
- Net Profit: Net profit attributable to shareholders stands at RM3.55 million, up from RM2.11 million last year. Earnings per share increased to 1.32 sen from 0.74 sen.
- Strong Balance Sheet:
- Net assets per share: Increased to 77.28 sen from 70.30 sen at year-end 2025.
- Shareholders’ equity: Rose to RM206.12 million from RM195.75 million at the end of 2025.
- Cash and cash equivalents: RM4.48 million at period end.
- Borrowings: Total borrowings increased to RM72.61 million, reflecting additional financing for expansion.
- Strategic Expansion:
- Ongoing prioritization of oil and gas waste treatment capabilities at the Telok Gong facility in Klang.
- Expansion into the e-waste segment through Meridian and continued growth in organic waste treatment (BiobiN and compost production).
- RM31.05 million earmarked for the construction of an integrated scheduled waste management facility in Sabah, with RM577,000 still available for utilization within 24 months.
- Corporate Actions:
- Tex Cycle has proposed transferring its listing from the ACE Market to the Main Market of Bursa Securities, targeted for completion in the second half of 2027.
- Metro Koats Technology Sdn. Bhd., a wholly owned subsidiary, completed the disposal of a factory for RM8.0 million in cash. Notably, the purchaser is a company in which a Director holds an interest, which may be price sensitive due to related-party transactions.
- Dividend: No dividend was declared for the quarter.
- Taxation: RM446,000 charged for the period.
- Material Litigation: There is no material litigation as at 25 May 2026.
- Capital Commitments: RM71.09 million approved and contracted for acquisition of property, plant, and equipment.
Potential Share Price Movers
- Strong Revenue and Profit Growth: The surge in revenue and profit, especially from recycling and recovery, signals robust operational momentum and could attract investor interest.
- Expansion Initiatives: Investments in new facilities and expansion into new waste segments (oil & gas, e-waste, organic waste) are likely to drive future growth, supporting higher valuations.
- Main Market Transfer: The proposed move to Bursa’s Main Market may enhance visibility, liquidity, and institutional investor participation.
- Related-Party Transaction: The disposal of a factory to a company linked to a Director, while fully disclosed, may be viewed as price sensitive. Investors should monitor for any governance concerns.
- Capital Commitments: Significant capital investment planned could affect future cash flows and gearing, but also signal confidence in growth prospects.
Detailed Financial Overview
- Condensed Consolidated Statements of Comprehensive Income:
- Revenue: RM20.61 million
- Cost of Sales: RM11.80 million
- Gross Profit: RM8.81 million
- Profit for the period: RM3.52 million
- Condensed Consolidated Statements of Financial Position:
- Non-current assets: RM199.93 million
- Current assets: RM99.24 million
- Current liabilities: RM29.42 million
- Non-current liabilities: RM63.62 million
- Condensed Consolidated Cash Flow Statement:
- Net cash from operating activities: RM370,000
- Net cash used in investing activities: RM303,000
- Net cash used in financing activities: RM3.09 million
- Cash and cash equivalents at end: RM4.48 million
- Borrowings:
- Short-term: RM12.93 million
- Long-term: RM59.68 million
- Capital Commitments:
- RM71.09 million approved and contracted for property, plant and equipment
Segment Information
- Recycling and Recovery: Main revenue driver, rapid growth
- Trading: Moderate growth, higher demand
- Renewable Energy: Slight contraction, impacted by equipment disposal
- Manufacturing: No sales
Outlook and Prospects
Tex Cycle is strengthening its scheduled waste management capabilities, expanding into e-waste, and focusing on organic waste recovery. The Group is aligned with Malaysia’s net zero carbon targets for 2050, leveraging government enforcement and renewable energy initiatives. The proposed Main Market transfer and ongoing capital investments are expected to bolster the Group’s market position and future profitability.
Important Shareholder Information
- Watch for progress updates on the Main Market transfer and expansion projects.
- Monitor related-party transactions for governance transparency.
- Track future capital expenditure and its impact on financial performance.
Disclaimer
The information provided is based on Tex Cycle Technology (M) Berhad’s unaudited Q1 2026 financial report. This article is for informational purposes only and does not constitute investment advice. Investors should perform their own due diligence and consult with financial advisors before making investment decisions.
Laporan Kewangan Tex Cycle Technology (M) Berhad Q1 2026: Analisis Terperinci untuk Pelabur
Perkara Utama dan Sorotan
- Peningkatan Pendapatan: Pendapatan kumpulan bagi Q1 2026 ialah RM20.61 juta, meningkat sebanyak 132% berbanding RM8.89 juta pada Q1 2025. Kenaikan ini didorong oleh permintaan jualan yang tinggi dari bahagian kitar semula dan pemulihan, serta sumbangan dari anak syarikat baru, Meridian World Sdn Bhd.
- Keuntungan Sebelum Cukai: Keuntungan sebelum cukai meningkat kepada RM3.96 juta, naik 55% berbanding RM2.55 juta tahun lalu.
- Prestasi Segmen:
- Bahagian Kitar Semula dan Pemulihan: Pendapatan meningkat RM11.7 juta (178%) kerana permintaan tinggi dan sumbangan Meridian.
- Bahagian Perdagangan: Pendapatan naik RM0.1 juta (62%) kerana permintaan jualan yang meningkat.
- Tenaga Boleh Diperbaharui: Pendapatan berkurang sebanyak 10% (RM0.2 juta) kerana pengurangan penjanaan solar dan penjualan peralatan solar akibat pemindahan kilang.
- Pembuatan: Tiada jualan direkodkan.
- Keuntungan Bersih: Keuntungan bersih kepada pemegang saham ialah RM3.55 juta, naik dari RM2.11 juta tahun lalu. Pendapatan sesaham meningkat kepada 1.32 sen dari 0.74 sen.
- Kedudukan Kewangan Kukuh:
- Aset bersih sesaham: Naik kepada 77.28 sen dari 70.30 sen.
- Ekuiti pemegang saham: Meningkat kepada RM206.12 juta dari RM195.75 juta.
- Tunai dan setara tunai: RM4.48 juta di akhir tempoh.
- Pinjaman: Jumlah pinjaman meningkat kepada RM72.61 juta, mencerminkan pembiayaan tambahan untuk pengembangan.
- Pengembangan Strategik:
- Peningkatan kemampuan rawatan sisa minyak dan gas di Telok Gong, Klang.
- Pengembangan ke segmen e-waste melalui Meridian dan pembangunan rawatan sisa organik (BiobiN dan pengkomposan).
- RM31.05 juta diperuntukkan untuk pembinaan fasiliti pengurusan sisa berjadual di Sabah, dengan RM577,000 masih boleh digunakan dalam tempoh 24 bulan.
- Tindakan Korporat:
- Cadangan pemindahan penyenaraian dari ACE Market ke Main Market Bursa Securities, dijangka selesai pada separuh kedua 2027.
- Metro Koats Technology Sdn. Bhd., anak syarikat milik penuh, telah menjual sebuah kilang dengan harga RM8.0 juta secara tunai kepada syarikat yang dimiliki oleh pengarah, transaksi berkaitan yang mungkin sensitif harga.
- Dividen: Tiada dividen diumumkan.
- Cukai: RM446,000 dikenakan untuk tempoh ini.
- Litigasi Material: Tiada litigasi material pada 25 Mei 2026.
- Komitmen Modal: RM71.09 juta diluluskan dan dikontrak untuk pemerolehan aset dan peralatan.
Faktor Potensi Penggerak Harga Saham
- Peningkatan Pendapatan dan Keuntungan: Lonjakan ini menunjukkan momentum operasi yang kukuh dan boleh menarik minat pelabur.
- Inisiatif Pengembangan: Pelaburan dalam fasiliti baru dan pengembangan ke segmen baru dijangka memacu pertumbuhan masa depan.
- Pemindahan ke Main Market: Langkah ini boleh meningkatkan keterlihatan, kecairan dan penyertaan pelabur institusi.
- Transaksi Berkaitan: Penjualan kilang kepada syarikat berkaitan pengarah adalah sensitif harga dan pelabur perlu memantau untuk ketelusan tadbir urus.
- Komitmen Modal Besar: Pelaburan modal besar boleh mempengaruhi aliran tunai dan gearing, tetapi juga menunjukkan keyakinan terhadap prospek pertumbuhan.
Gambaran Kewangan Terperinci
- Penyata Pendapatan:
- Pendapatan: RM20.61 juta
- Kos jualan: RM11.80 juta
- Keuntungan kasar: RM8.81 juta
- Keuntungan bersih: RM3.52 juta
- Penyata Kedudukan Kewangan:
- Aset bukan semasa: RM199.93 juta
- Aset semasa: RM99.24 juta
- Liabiliti semasa: RM29.42 juta
- Liabiliti bukan semasa: RM63.62 juta
- Penyata Aliran Tunai:
- Tunai daripada operasi: RM370,000
- Tunai digunakan dalam pelaburan: RM303,000
- Tunai digunakan dalam pembiayaan: RM3.09 juta
- Tunai di akhir tempoh: RM4.48 juta
- Pinjaman:
- Pendek: RM12.93 juta
- Panjang: RM59.68 juta
- Komitmen Modal:
- RM71.09 juta diluluskan dan dikontrak untuk aset dan peralatan
Maklumat Segmen
- Kitar Semula dan Pemulihan: Pemacu utama pendapatan, pertumbuhan pesat
- Perdagangan: Pertumbuhan sederhana, permintaan meningkat
- Tenaga Boleh Diperbaharui: Penyusutan kecil, kesan penjualan peralatan
- Pembuatan: Tiada jualan
Prospek dan Pandangan Masa Hadapan
Tex Cycle memperkukuh pengurusan sisa berjadual, mengembangkan ke e-waste, serta fokus kepada pemulihan sisa organik. Kumpulan selari dengan sasaran karbon sifar bersih Malaysia menjelang 2050, memanfaatkan inisiatif kerajaan dan tenaga boleh diperbaharui. Pemindahan ke Main Market dan pelaburan modal berterusan dijangka memperkukuh kedudukan pasaran dan keuntungan masa depan.
Maklumat Penting untuk Pemegang Saham
- Pantau kemajuan pemindahan ke Main Market dan projek pengembangan.
- Awasi transaksi berkaitan untuk ketelusan tadbir urus.
- Ikuti perkembangan komitmen modal dan impaknya terhadap prestasi kewangan.
Penafian
Maklumat yang diberikan adalah berdasarkan laporan kewangan tidak diaudit Tex Cycle Technology (M) Berhad Q1 2026. Artikel ini hanya untuk tujuan maklumat dan bukan nasihat pelaburan. Pelabur perlu melakukan kajian sendiri dan mendapatkan nasihat kewangan sebelum membuat keputusan pelaburan.
