OSK Holdings / Ong Leong Huat

[winston]

not vested

November 29, 2022 20

OSK’s 3Q net profit rises 42% as all business segments see improved performance

by Hailey Chung

OSK Holdings Bhd’s third quarter net profit rose 41.9% to RM113.4 million, from RM79.89 million a year earlier, with all business segments registering a better performance.

Earnings per share for the quarter ended Sept 30, 2022 (3QFY2022) grew to 5.5 sen from 3.87 sen, OSK said in a bourse filing.

OSK’s revenue increased 58% to RM347.1 million, from RM219.4 million in 3QFY2021.

The construction segment was the only segment that incurred a loss during the nine months due to the absence of external projects, OSK said.

Land bank of 1,931 acres with an estimated effective gross development value of RM13.7 billion, located in the Klang Valley, Sungai Petani, Butterworth, Kuantan and Seremban, as well as in Melbourne, Australia.

Source: theedgemarkets.com

https://www.theedgemarkets.com/article/ ... erformance

[winston]

not vested

OSK ends FY2022 with 23% higher 4Q profit of RM121m, record full-year revenue of RM1.3b

by Lam Jian Wyn

OSK Holdings Bhd's net profit for the fourth quarter ended Dec 31, 2022 (4QFY2022) rose 23.4% to RM121.32 million.

Revenue rose 5.77% to RM332.71 million from RM314.57 million a year ago.

For the full year ended Dec 31, 2022 (FY2022), the group posted a net profit of RM427.18 million, up 7.27% from RM398.23 million a year ago.

Meanwhile, its revenue rose 17% to a record RM1.32 billion from RM1.13 billion a year ago, exceeding pre-pandemic levels.

Source: theedgemarkets.com

https://www.theedgemarkets.com/node/656931

[winston]

not vested

HLIB says OSK to show steady growth in FY23, raises target price to RM1.59

By Surin Murugiah

Maintain Buy with a higher TP of RM1.59 (from RM1.46) based on 35% (from 40%) discount to SOP-derived value of RM2.44.

The stock currently provides a good 5.7% dividend yield,

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/674620

[winston]

not vested

OSK Holdings' 2Q net profit up 23% to RM131m, declares three sen dividend

By Surin Murugiah

OSK Holdings Bhd's net profit rose 23% year-on-year to RM131.04 million for the second quarter ended June 30, 2023 (2QFY2023), from RM105.75 million a year earlier,

Quarterly revenue rose to RM397.44 million, versus RM334.66 million a year ago.

Earnings per share rose to 6.35 sen, from 5.13 sen previously.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/680567

[winston]

not vested

Bright prospects for OSK on competitive strength

OSK’s recent 6.1% decline quarter-on-quarter (q-o-q) in the third quarter of 2023 (3Q23) core earnings, primarily due to a drop in profit share from the RHB Group.

The bright prospects of capital financing and cables are also reflected in the valuation and share price of OSK’s listed peers, namely RCE Capital Bhd and Southern Cable Group Bhd,” HLIB

Source: The Star

https://www.thestar.com.my/business/bus ... e-strength

[winston]

not vested

Setting sail for a stronger FY24

OSK’s FY23 results saw record-high revenue and strong earnings growth of +10.2% YoY, driven by robust performance in capital financing and industries.

Growth prospects remain promising for the group in FY24.

For property development, the group is scaling up launches in Malaysia and actively looking for new landbanks.

Capital financing should see strong growth from its growing civil servant and Australia segments.

Cables should see stable demand while IBS is poised for strong growth given the recovering property demand and increasing IBS adoption among contractors.

We revise upwards FY24/25 forecasts by +2.1%/3.6% to account for higher contribution from capital financing.

Maintain BUY with higher TP of RM2.16 (from RM2.04) based on 30% discount to SOP-derived value of RM3.06 as we rollover our valuation base year.

Source: HLIB

[winston]

not vested

OSK Holdings optimistic for strong 2024 results

OSK kicked off FY2024 in a healthy financial position, with a net gearing ratio of 0.39x and cash and bank balances totalling RM848.2mil as of March 31, indicating financial stability and liquidity.

The group’s net profit rose 6.8% to RM122.9mil, or earnings per share of 5.96 sen in the first quarter ended March 31 (1Q24) compared with RM115.1mil, or 5.58 sen in the same corresponding period last year.

Revenue grew 10.4% to RM367.9mil in 1Q24 against RM333.2mil a year prior.

Source: The Star

https://www.thestar.com.my/business/bus ... 24-results