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MISC Berhad

KLSE:MISC
Snowflake Description

Excellent balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MISC
KLSE
MYR34B
Market Cap
  1. Home
  2. MY
  3. Transportation
Company description

MISC Berhad provides energy-related maritime solutions and services worldwide. The last earnings update was 13 days ago. More info.


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MISC Share Price and Events
7 Day Returns
1.2%
KLSE:MISC
1.6%
MY Shipping
3.7%
MY Market
1 Year Returns
14.2%
KLSE:MISC
11.2%
MY Shipping
-20.1%
MY Market
MISC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
MISC Berhad (MISC) 1.2% 8% -8.9% 14.2% 2.6% -16.5%
MY Shipping 1.6% 13.3% -8.8% 11.2% -1.5% -23.1%
MY Market 3.7% -6.4% -18.4% -20.1% -28.3% -30.2%
1 Year Return vs Industry and Market
  • MISC outperformed the Shipping industry which returned 11.2% over the past year.
  • MISC outperformed the Market in Malaysia which returned -20.1% over the past year.
Price Volatility
MISC
Industry
5yr Volatility vs Market
Related Companies

Value

 Is MISC Berhad undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of MISC Berhad to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for MISC Berhad.

KLSE:MISC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.8%
Perpetual Growth Rate 10-Year MY Government Bond Rate 3.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for KLSE:MISC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year MY Govt Bond Rate 3.4%
Equity Risk Premium S&P Global 7%
Shipping Unlevered Beta Simply Wall St/ S&P Global 0.67
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.668 (1 + (1- 24%) (39.34%))
0.912
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.91
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.42% + (0.912 * 6.96%)
9.77%

Discounted Cash Flow Calculation for KLSE:MISC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for MISC Berhad is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

KLSE:MISC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (MYR, Millions) Source Present Value
Discounted (@ 9.77%)
2020 2,750.08 Analyst x1 2,505.43
2021 3,093.40 Analyst x2 2,567.48
2022 3,580.38 Analyst x1 2,707.30
2023 3,875.98 Est @ 8.26% 2,670.09
2024 4,139.76 Est @ 6.81% 2,598.10
2025 4,379.45 Est @ 5.79% 2,504.01
2026 4,601.87 Est @ 5.08% 2,397.10
2027 4,812.69 Est @ 4.58% 2,283.90
2028 5,016.41 Est @ 4.23% 2,168.79
2029 5,216.51 Est @ 3.99% 2,054.66
Present value of next 10 years cash flows MYR24,456.00
KLSE:MISC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= MYR5,216.51 × (1 + 3.42%) ÷ (9.77% – 3.42%)
MYR85,025.92
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= MYR85,025.92 ÷ (1 + 9.77%)10
MYR33,489.72
KLSE:MISC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= MYR24,456.00 + MYR33,489.72
MYR57,945.72
Equity Value per Share
(MYR)
= Total value / Shares Outstanding
= MYR57,945.72 / 4,463.75
MYR12.98
KLSE:MISC Discount to Share Price
Calculation Result
Value per share (MYR) From above. MYR12.98
Current discount Discount to share price of MYR7.58
= -1 x (MYR7.58 - MYR12.98) / MYR12.98
41.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price MISC Berhad is available for.
Intrinsic value
42%
Share price is MYR7.58 vs Future cash flow value of MYR12.98
Current Discount Checks
For MISC Berhad to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • MISC Berhad's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • MISC Berhad's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for MISC Berhad's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are MISC Berhad's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
KLSE:MISC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in MYR MYR0.32
KLSE:MISC Share Price ** KLSE (2020-04-09) in MYR MYR7.58
Asia Shipping Industry PE Ratio Median Figure of 80 Publicly-Listed Shipping Companies 9.18x
Malaysia Market PE Ratio Median Figure of 607 Publicly-Listed Companies 11.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of MISC Berhad.

KLSE:MISC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= KLSE:MISC Share Price ÷ EPS (both in MYR)

= 7.58 ÷ 0.32

23.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MISC Berhad is overvalued based on earnings compared to the Asia Shipping industry average.
  • MISC Berhad is overvalued based on earnings compared to the Malaysia market.
Price based on expected Growth
Does MISC Berhad's expected growth come at a high price?
Raw Data
KLSE:MISC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.72x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
12.3%per year
Asia Shipping Industry PEG Ratio Median Figure of 16 Publicly-Listed Shipping Companies 0.88x
Malaysia Market PEG Ratio Median Figure of 259 Publicly-Listed Companies 1.14x

*Line of best fit is calculated by linear regression .

KLSE:MISC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.72x ÷ 12.3%

1.93x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MISC Berhad is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on MISC Berhad's assets?
Raw Data
KLSE:MISC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in MYR MYR7.78
KLSE:MISC Share Price * KLSE (2020-04-09) in MYR MYR7.58
Malaysia Shipping Industry PB Ratio Median Figure of 7 Publicly-Listed Shipping Companies 0.48x
Malaysia Market PB Ratio Median Figure of 926 Publicly-Listed Companies 0.56x
KLSE:MISC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= KLSE:MISC Share Price ÷ Book Value per Share (both in MYR)

= 7.58 ÷ 7.78

0.97x

* Primary Listing of MISC Berhad.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MISC Berhad is overvalued based on assets compared to the MY Shipping industry average.
X
Value checks
We assess MISC Berhad's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Shipping industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Shipping industry average (and greater than 0)? (1 check)
  5. MISC Berhad has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is MISC Berhad expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is MISC Berhad expected to grow at an attractive rate?
  • MISC Berhad's earnings growth is expected to exceed the low risk savings rate of 3.4%.
Growth vs Market Checks
  • MISC Berhad's earnings growth is expected to exceed the Malaysia market average.
  • MISC Berhad's revenue growth is expected to exceed the Malaysia market average.
Annual Growth Rates Comparison
Raw Data
KLSE:MISC Future Growth Rates Data Sources
Data Point Source Value (per year)
KLSE:MISC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 12.3%
KLSE:MISC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 6.4%
Asia Shipping Industry Earnings Growth Rate Market Cap Weighted Average 3.7%
Asia Shipping Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
Malaysia Market Earnings Growth Rate Market Cap Weighted Average 9.6%
Malaysia Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
KLSE:MISC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in MYR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
KLSE:MISC Future Estimates Data
Date (Data in MYR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 10,948 4,446 2,118 8
2021-12-31 10,282 4,286 1,996 13
2020-12-31 9,853 4,300 1,917 13
2020-04-09
KLSE:MISC Past Financials Data
Date (Data in MYR Millions) Revenue Cash Flow Net Income *
2019-12-31 8,963 5,579 1,426
2019-09-30 8,976 5,343 1,515
2019-06-30 9,057 4,933 1,590
2019-03-31 9,037 4,558 1,511
2018-12-31 8,780 4,099 1,312
2018-09-30 8,857 3,944 1,041
2018-06-30 8,943 4,182 1,381
2018-03-31 9,104 4,122 1,616
2017-12-31 10,068 4,739 1,982
2017-09-30 10,121 4,335 2,443
2017-06-30 10,098 4,808 1,897
2017-03-31 10,188 5,476 2,687

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • MISC Berhad's earnings are expected to grow by 12.3% yearly, however this is not considered high growth (20% yearly).
  • MISC Berhad's revenue is expected to grow by 6.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
KLSE:MISC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from MISC Berhad Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

KLSE:MISC Future Estimates Data
Date (Data in MYR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.48 0.57 0.37 8.00
2021-12-31 0.45 0.57 0.37 13.00
2020-12-31 0.43 0.57 0.36 13.00
2020-04-09
KLSE:MISC Past Financials Data
Date (Data in MYR Millions) EPS *
2019-12-31 0.32
2019-09-30 0.34
2019-06-30 0.36
2019-03-31 0.34
2018-12-31 0.29
2018-09-30 0.23
2018-06-30 0.31
2018-03-31 0.36
2017-12-31 0.44
2017-09-30 0.55
2017-06-30 0.42
2017-03-31 0.60

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • MISC Berhad is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess MISC Berhad's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Asia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
MISC Berhad has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has MISC Berhad performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare MISC Berhad's growth in the last year to its industry (Shipping).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • MISC Berhad's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • MISC Berhad's 1-year earnings growth exceeds its 5-year average (8.8% vs -14.3%)
  • MISC Berhad's earnings growth has exceeded the Asia Shipping industry average in the past year (8.8% vs -4.8%).
Earnings and Revenue History
MISC Berhad's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from MISC Berhad Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

KLSE:MISC Past Revenue, Cash Flow and Net Income Data
Date (Data in MYR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 8,962.72 1,426.36 1,105.91
2019-09-30 8,975.68 1,515.10 1,151.37
2019-06-30 9,057.08 1,590.00 1,137.47
2019-03-31 9,037.18 1,511.40 1,136.47
2018-12-31 8,780.28 1,311.50 1,127.87
2018-09-30 8,856.81 1,041.11 1,003.57
2018-06-30 8,943.41 1,380.61 943.57
2018-03-31 9,104.11 1,615.91 936.97
2017-12-31 10,068.21 1,981.51 1,172.17
2017-09-30 10,120.74 2,443.05 1,691.61
2017-06-30 10,097.74 1,896.65 1,747.81
2017-03-31 10,187.74 2,686.75 1,835.41
2016-12-31 9,597.24 2,581.55 1,952.31
2016-09-30 10,391.76 2,804.42 1,601.73
2016-06-30 10,604.55 3,153.88 1,688.25
2016-03-31 10,812.52 2,552.47 1,542.66
2015-12-31 10,908.39 2,467.78 1,250.52
2015-09-30 9,883.12 2,674.09 1,220.12
2015-06-30 9,557.82 2,661.33 1,120.12
2015-03-31 9,495.98 2,204.22 1,205.47
2014-12-31 9,296.25 2,204.31 1,154.03
2014-09-30 9,150.93 2,323.95 950.03
2014-06-30 9,137.03 2,254.17 896.92
2014-03-31 8,882.81 2,267.04 893.52
2013-12-31 8,971.81 2,081.07 837.08
2013-09-30 9,157.48 1,709.04 826.30
2013-06-30 9,146.10 1,501.60 930.84

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • MISC Berhad has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • MISC Berhad used its assets less efficiently than the Asia Shipping industry average last year based on Return on Assets.
  • MISC Berhad has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess MISC Berhad's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Shipping industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
MISC Berhad has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is MISC Berhad's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up MISC Berhad's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • MISC Berhad is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • MISC Berhad's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of MISC Berhad's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from MISC Berhad Company Filings, last reported 3 months ago.

KLSE:MISC Past Debt and Equity Data
Date (Data in MYR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 35,753.72 12,672.42 5,751.14
2019-09-30 36,516.20 13,713.10 6,301.00
2019-06-30 36,314.70 13,554.90 5,818.90
2019-03-31 35,800.90 13,440.10 6,050.40
2018-12-31 36,364.13 13,055.74 5,547.12
2018-09-30 36,424.70 13,049.60 5,222.00
2018-06-30 35,597.00 12,081.50 5,240.50
2018-03-31 34,090.60 11,571.90 5,059.00
2017-12-31 35,904.76 11,663.89 5,810.08
2017-09-30 37,589.20 12,341.70 5,574.80
2017-06-30 37,765.60 11,310.00 5,241.50
2017-03-31 38,651.30 12,009.00 5,805.30
2016-12-31 39,330.95 12,602.20 6,422.27
2016-09-30 36,223.16 12,044.83 5,849.96
2016-06-30 35,478.54 11,269.72 4,974.28
2016-03-31 33,873.85 6,378.72 6,062.80
2015-12-31 36,459.14 6,490.72 5,575.53
2015-09-30 36,983.88 10,150.51 5,100.08
2015-06-30 31,847.13 8,963.45 4,631.71
2015-03-31 30,539.89 8,846.38 4,071.88
2014-12-31 28,821.10 8,723.52 4,850.98
2014-09-30 26,899.98 9,890.35 5,727.62
2014-06-30 25,729.75 12,191.44 7,343.86
2014-03-31 26,033.29 10,104.22 4,773.00
2013-12-31 25,757.37 10,203.43 4,756.42
2013-09-30 24,489.35 9,371.68 3,323.16
2013-06-30 23,546.43 9,234.94 3,411.57
  • MISC Berhad's level of debt (35.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (30.3% vs 35.4% today).
  • Debt is well covered by operating cash flow (44%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.3x coverage).
X
Financial health checks
We assess MISC Berhad's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. MISC Berhad has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is MISC Berhad's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.96%
Current annual income from MISC Berhad dividends. Estimated to be 3.97% next year.
If you bought MYR2,000 of MISC Berhad shares you are expected to receive MYR79 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • MISC Berhad's pays a higher dividend yield than the bottom 25% of dividend payers in Malaysia (2.41%).
  • MISC Berhad's dividend is below the markets top 25% of dividend payers in Malaysia (6.47%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
KLSE:MISC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
Asia Shipping Industry Average Dividend Yield Market Cap Weighted Average of 54 Stocks 8.8%
Malaysia Market Average Dividend Yield Market Cap Weighted Average of 467 Stocks 4.1%
Malaysia Minimum Threshold Dividend Yield 10th Percentile 1.3%
Malaysia Bottom 25% Dividend Yield 25th Percentile 2.4%
Malaysia Top 25% Dividend Yield 75th Percentile 6.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

KLSE:MISC Future Dividends Estimate Data
Date (Data in MYR) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.30 5.00
2021-12-31 0.30 10.00
2020-12-31 0.30 9.00
2020-04-09
KLSE:MISC Past Annualized Dividends Data
Date (Data in MYR) Dividend per share (annual) Avg. Yield (%)
2020-03-27 0.300 3.993
2020-02-18 0.300 4.018
2019-03-26 0.300 3.984
2019-02-22 0.300 4.413
2018-02-13 0.360 5.613
2017-11-03 0.280 3.846
2017-08-09 0.280 3.862
2017-05-04 0.280 3.760
2017-03-29 0.300 4.087
2017-02-10 0.300 4.000
2016-08-04 0.325 4.365
2016-03-28 0.030 0.382
2016-02-05 0.250 2.845
2015-08-04 0.150 1.709
2015-04-30 0.120 1.468
2015-02-06 0.120 1.418
2014-08-06 0.080 1.128
2014-04-25 0.050 0.778
2012-08-16 0.000 0.000
2012-05-16 0.000 0.000
2012-04-27 0.000 0.000
2012-02-22 0.000 0.000
2011-11-24 0.000 0.000
2011-05-11 0.250 3.631
2010-11-25 0.350 4.369
2010-07-28 0.350 4.000
2009-11-23 0.350 4.123
2009-05-11 0.350 4.006

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of MISC Berhad's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess MISC Berhad's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can MISC Berhad afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. MISC Berhad has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of MISC Berhad's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Yang Yee
COMPENSATION MYR0
AGE 51
TENURE AS CEO 5.3 years
CEO Bio

Mr. Yang Chien Yee has been the Chief Executive Officer, President and Executive Director of MISC Berhad since January 1, 2015. Mr. Yee served as Vice President of Corporate Planning and Development at MISC Berhad from April 1, 2008 to December 31, 2014 and served as it Chief Operating Officer from July 2013 to December 31, 2014. He served within MISC Berhad from 2001 to 2003 where he was involved in the acquisition of subsidiary AET and from 2005 to 2008. He served as Group Vice President of Communication, Corporate Planning and Development of AET Tanker Holdings Sdn Bhd from 2005 to 2008. Mr. Yee also served as Group Vice President of Corporate Planning, AET, UK from June 2005 prior to joining MISC Berhad. He served as Research Analyst at BofA Merrill Lynch, Research Division. He began his career as an auditor in 1990 before progressing towards equity research and investment banking with various financial institutions during a period of 10 years. He serves as Deputy Chairman of AET Tanker Holdings Sdn. Bhd. He has been a Director at The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited since November 26, 2015. He has been a Non-Independent Non-Executive Director of Malaysia Marine and Heavy Engineering Holdings Berhad since April 1, 2008. Mr. Yee sits on the board of several major subsidiaries of the MISC Group including AET Tanker Holdings Sdn. Bhd. He served as the Chairman at VTTI Energy Partners LP until November 9, 2015. He serves as a Director of VTTI Energy Partners GP LLC. He serves as a Director of Malaysia Marine & Heavy Engineering Sdn. Bhd. Mr. Yee holds degrees in Financial Accounting and Management and Economics from the University of Sheffield, United Kingdom (UK).

CEO Compensation
  • Insufficient data for Yang to compare compensation growth.
  • Yang's remuneration is lower than average for companies of similar size in Malaysia.
Management Team Tenure

Average tenure and age of the MISC Berhad management team in years:

3.1
Average Tenure
51
Average Age
  • The tenure for the MISC Berhad management team is about average.
Management Team

Yang Yee

TITLE
President
AGE
51
TENURE
5.3 yrs

Raja Azlan Bin Raja Azwa

TITLE
CFO & Vice President of Finance
AGE
48
TENURE
1 yrs

Ausmal Bin Kardin

TITLE
VP of Legal
AGE
49
TENURE
0.3 yrs

Iwan bin Mokhtar

TITLE
Vice President of Human Resources Management
AGE
51
TENURE
11 yrs

Rozainah Binti Awang

TITLE
General Manager of CPD
AGE
50

Eslin Halimi

TITLE
Head of Financial Reporting

Rajalingam Subramaniam

TITLE
President & CEO of AET Tanker Holdings Sdn. Bhd
AGE
54
TENURE
4.3 yrs

Raja Muniandy

TITLE
MD & CEO of Eaglestar Marine Holdings (L) Pte. Ltd.
AGE
57
TENURE
2.9 yrs

Wan Binti Wan Abdullah Sani

TITLE
MD and CEO of Malaysia Marine & Heavy Engineering Holdings Berhad
AGE
53
TENURE
3.3 yrs

Noridah Binti Khamis

TITLE
GM of Legal
TENURE
1.8 yrs
Board of Directors Tenure

Average tenure and age of the MISC Berhad board of directors in years:

2.8
Average Tenure
57
Average Age
  • The average tenure for the MISC Berhad board of directors is less than 3 years, this suggests a new board.
Board of Directors

Ab. bin Mohyiddin

TITLE
Independent Chairman
COMPENSATION
MYR282K
AGE
73
TENURE
5.3 yrs

Yang Yee

TITLE
President
AGE
51
TENURE
5.3 yrs

Nasarudin bin Md Idris

TITLE
Independent Non-Executive Director
COMPENSATION
MYR474K
AGE
64
TENURE
15.5 yrs

Sekhar Krishnan

TITLE
Senior Independent Non-Executive Director
COMPENSATION
MYR192K
AGE
63
TENURE
2.7 yrs

Beng Lim

TITLE
Independent Non Executive Director
COMPENSATION
MYR220K
AGE
60
TENURE
7.7 yrs

Liza binti Mustapha

TITLE
Non-Independent & Non-Executive Director
COMPENSATION
MYR194K
AGE
49
TENURE
2.8 yrs

Encik Bin Mohamed Yusof

TITLE
Non-Independent & Non Executive Director
COMPENSATION
MYR176K
AGE
53
TENURE
2.3 yrs

Rozalila Binti Abdul Rahman

TITLE
Independent Non-Executive Director
COMPENSATION
MYR70K
AGE
57
TENURE
1.7 yrs

Tengku Muhammad Bin Tengku Kamadjaja Aziz

TITLE
Non-Independent Non-Executive Director
COMPENSATION
MYR22K
AGE
44
TENURE
1.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (MYR) Value (MYR)
X
Management checks
We assess MISC Berhad's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. MISC Berhad has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

MISC Berhad provides energy-related maritime solutions and services worldwide. The company operates through LNG (liquefied natural gas), Petroleum, Offshore, Heavy Engineering, and Others segments. It owns and operates LNG carriers; petroleum tankers; and floating storage and offloading, mobile offshore production, and semi-submersible floating production systems, as well as floating production, storage, and offloading units. The company is also involved in the provision of marine and heavy engineering services, including engineering, procurement, construction, installation, and commissioning services for offshore and onshore construction; undertakes conversion works; and marine repair, refurbishment, upgradation, and life extension of vessels and rigs. In addition, it offers maritime education and training services for seamen and maritime personnel; port and terminal services; integrated marine services, such as fleet management and operation, crew management and manning, and dry-docking management services, as well as project management services for new build construction and conversion projects. Further, the company operates and manages the Sungai Udang Port; offers sludge disposal management and financing services; and owns properties. It operates a fleet of approximately 110 owned and in-chartered LNG, petroleum, and product vessels; 14 floating production systems; and 2 LNG floating storage units with a combined deadweight tonnage capacity of approximately 16 million tonnes. The company was incorporated in 1968 and is headquartered in Kuala Lumpur, Malaysia. MISC Berhad is a subsidiary of Petroliam Nasional Berhad.

Details
Name: MISC Berhad
MISC
Exchange: KLSE
Founded: 1968
MYR33,835,192,428
4,463,745,703
Website: http://www.misc.com.my
Address: MISC Berhad
Menara Dayabumi,
Level 25,
Kuala Lumpur,
Wilayah Persekutuan, 50050,
Malaysia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
KLSE MISC Ordinary Shares Bursa Malaysia MY MYR 02. Jan 1992
OTCPK MIHD.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
Number of employees
Current staff
Staff numbers
8,839
MISC Berhad employees.
Industry
Marine
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 15:31
End of day share price update: 2020/04/09 00:00
Last estimates confirmation: 2020/04/08
Last earnings filing: 2020/03/27
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.