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Malaysia
Company data displayed is for sample purposes only and may not reflect the most current information available on Emerging Markets Information Service (EMIS).

Wah Seong Corporation Berhad

Main Activities: Primary Metal Manufacturing - Utility System Construction

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Company Information

Full name
Wah Seong Corporation Berhad

Headquarters
19.01,The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra; Kuala Lumpur; Wilayah Persekutuan; 59200
Legal Address
Suite 2-1 Level 2, Menara Penang Garden, 42A Jalan Sultan Ahmad Shah; Georgetown; Charlotte Parish; 10050
Status: Listed
Legal Form: Public Limited Company
Operational Status: Operational
ISIN CODE : MYL5142OO004
Financial Auditors: PricewaterhouseCoopers (2011)
Incorporation Date: October 9, 1999
Total Employees: 2,170

Tel: (60 3) 26856800

Company Description

The principal activities of WASEONG are investment holding and the provision of management services. The principal activities of the Group consist of Specialised Pipe Coating and Corrosion Protection Services; EPC, Fabrication and Rental of Gas Compressors and Process Equipment; Infrastructure and Building Materials and Agro Based Engineering. WASEONG provides pipe-coating services for the oil and gas industry in Malaysia and overseas. The company has major international pipe-coating projects including
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Company Analysis

According to the Consolidated - Non-Audited financial statement for the first three cumulated quarters of 2012, total net operating revenues increased with 8.22%, from MYR 1,399,458 thousands to MYR 1,514,457 thousands. Operating result decreased from MYR 156,907 thousands to MYR 80,226 thousands which means -48.87% change. The results of the period decreased -47.94% reaching MYR 47,301 thousands at the end of the period against MYR 90,854 thousands last year. Return on equity (Net income/Total equity) went from 8.42% to 4.30%, the Return On Asset (Net income / Total Asset) went from 4.12% to 2.03% and the Net Profit Margin (Net Income/Net Sales) went from 6.49% to 3.12% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 121.13% compared to 112.80% of last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 1.99 to 1.49 when compared to the previous year.

Key Executives

Chung Meng, Robert Tan Non Executive Chairman
Cheu Leong Chan Managing Director
Giancarlo Maccagno Executive Deputy Managing Director
See Yan Lin Independent & Non Executive Director
Ab Rahman Bin Omar Independent Non Executive Director (Company)
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Balance Sheet

Total Assets

2,327,466

2,304,376

Current Assets

1,427,403

1,487,888

Total Liabilities

1,332,194

1,283,744

Shareholders Equity

1,099,845

1,123,123

Current Liabilities

956,354

803,369

* All the accounts are in MYR.
Income Statement

Total Operating Revenue

1,514,457

1,021,794

Operational Profit (Loss)

80,226

63,040

Net Profit (Loss)

47,301

37,828

* All the accounts are in MYR.
Ratios
Profitability Ratios

Return on Assets (ROA)

2.03%

1.64%

Annualised Return on Assets (ROA)

2.71%

3.28%

Return on Equity (ROE)

4.75%

3.71%

Annualised Return on Equity (ROE)

6.33%

7.42%

Return on Sales (ROS)

3.18%

3.76%

Return on Capital

3.77%

2.72%

Gross Profit Margin

16.21%

17.57%

Operating Profit Margin

6.58%

7.93%

Efficiency Ratios

Accounts Receivable Turnover

2.45x

1.63x

Inventory Turnover

4.70x

3.23x

Current asset turnover

1.04x

0.68x

Fixed-asset turnover

1.65x

1.23x

Asset Turnover

0.64x

0.44x

Valuation figures and ratios

Earning Before Interests and Taxes (EBIT)

80,529

66,403

EBITDA

124,660

96,378

Enterprise value

1,588,599

1,667,806

Enterprise Value / EBITDA

12.74

17.30

Bookvalue (BV)

1,682,962

1,592,761

Net Cash

-554,703

-323,695

Liquidity Ratios

Current Ratio

149.25%

185.21%

Quick ratio

121.52%

153.23%

Doom's day ratio

42%

59.71%

Leverage Ratios

Leverage ratio

233.85%

225.78%

Interest Coverage Ratio

497.34%

607.09%

Debt to equity

133.85%

125.78%

Debt to total assets

57.24%

55.71%

Long Term Debt to Capital

49.24%

55.35%

Debt / Enterprise Value

40.57%

42.67%

Market ratios

Market Capitalization/EBITDA

9.96

13.83

Price/Book Ratio

0.76

0.85

Market Cap / Net cash

-2.24

-4.12

Trend Ratios

Revenue Trend

1,064.58%

112.17%

Net Income Trend

-873.36%

54.38%

Operating Income Trend

267.56%

58.04%