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7181.KLSE · Technology · Information Technology Services · MYR · Fundamentals
Asset-light

Physical assets are 0.1% of total assets, a light footprint. Capex is 0.00x depreciation and free cash flow yield is weak, which fits a cash drain on aging assets. EBITDA after capex covers debt service by -317.22x, which is below 1.

Technology and communication names are often asset-light, with fixed-asset turnover above 5x. This name is at 2,129.79x.

Physical asset ratio
0.1%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 145.00KpropertyPlantEquipmentInventoryMYR 0.00Not reported, treated as 0Total assetsMYR 201.20MtotalAssetsInventory was not reported and is treated as zero.Result 0.1%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
2,129.79xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueMYR 308.82MtotalRevenueNet PP&EMYR 145.00KpropertyPlantEquipmentResult 2,129.79x
Revenue per dollar of the physical asset base.
Capex / D&A
0.00xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexMYR 0.00capitalExpendituresD&AMYR 5.11MreconciledDepreciationResult 0.00x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
MYR 0.16Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 201.20MtotalAssetsGoodwillMYR 0.00Not reported, treated as 0IntangiblesMYR 0.00Not reported, treated as 0LiabilitiesMYR 557.00KtotalLiabTangible bookMYR 200.65MShares1,249,801,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result MYR 0.16
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePrice—Latest quoteTangible book / shareMYR 0.162025-12-31A live quote was not available, so price / tangible book could not be calculated.Result —
Quote unavailable.
Fixed-charge coverage
-317.22xFixed-charge coverage · 2025-12-31(EBITDA − capex) / interestEBITDA-MYR 2.86MebitdaCapexMYR 0.00capitalExpendituresInterestMYR 9.00KinterestExpenseEBITDA − capex-MYR 2.86MShort-term debt was not reported, so the denominator is interest only.Result -317.22x
EBITDA minus capex, divided by interest only.
FCF yield
-65.5%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-MYR 16.37MfreeCashFlowMarket capMYR 25.00MMarketCapitalizationResult -65.5%
Latest free cash flow divided by current market cap (MYR 25.00M).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-MYR 7.97MoperatingIncomeTax expenseMYR 15.00KtaxProvisionPretax income-MYR 7.98MincomeBeforeTaxTax rate—EquityMYR 200.65MtotalStockholderEquityDebt—Not reportedCashMYR 5.27McashAndEquivalentsInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result —
After-tax operating income over equity plus debt minus cash. Operating income / net PP&E is -54.94x.

Footprint and return

Turnover and reinvestment

Year Physical FAT Capex/D&A TBV/sh Coverage FCF ROIC EBIT/PP&E
2018 47.3%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 11.73MpropertyPlantEquipmentInventoryMYR 10.00KinventoryTotal assetsMYR 24.79MtotalAssetsResult 47.3% 1.30xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenueMYR 15.26MtotalRevenueNet PP&EMYR 11.73MpropertyPlantEquipmentResult 1.30x 0.09xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapexMYR 45.00KcapitalExpendituresD&AMYR 514.00KreconciledDepreciationResult 0.09x MYR 0.31Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 24.79MtotalAssetsGoodwillMYR 45.00KgoodWillIntangiblesMYR 0.00Not reported, treated as 0LiabilitiesMYR 1.36MtotalLiabTangible bookMYR 23.38MShares74,677,700commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result MYR 0.31 148.56xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 4.80MebitdaCapexMYR 45.00KcapitalExpendituresInterestMYR 32.00KinterestExpenseShort-term debtMYR 0.00shortTermDebtEBITDA − capexMYR 4.75MPrincipal due is short-term debt.Result 148.56x MYR 591.00KFree cash flow · 2018-12-31Reported free cash flowOperating cash flowMYR 636.00KtotalCashFromOperatingActivitiesCapexMYR 45.00KcapitalExpendituresFree cash flowMYR 591.00KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result MYR 591.00K —ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 4.30MoperatingIncomeTax expenseMYR 21.00KtaxProvisionPretax incomeMYR 4.25MincomeBeforeTaxTax rate0.5%EquityMYR 23.43MtotalStockholderEquityDebt—Not reportedCashMYR 2.55McashAndEquivalentsInvested capital—Result — 0.37xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating incomeMYR 4.30MoperatingIncomeNet PP&EMYR 11.73MpropertyPlantEquipmentResult 0.37x
2019 20.9%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 26.51MpropertyPlantEquipmentInventoryMYR 0.00inventoryTotal assetsMYR 127.03MtotalAssetsResult 20.9% 3.87xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenueMYR 102.64MtotalRevenueNet PP&EMYR 26.51MpropertyPlantEquipmentResult 3.87x 13.01xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapexMYR 15.43McapitalExpendituresD&AMYR 1.19MreconciledDepreciationResult 13.01x MYR 0.26Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 127.03MtotalAssetsGoodwillMYR 45.00KgoodWillIntangiblesMYR 24.75MintangibleAssetsLiabilitiesMYR 17.22MtotalLiabTangible bookMYR 85.02MShares322,014,120commonStockSharesOutstandingResult MYR 0.26 369.53xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 34.28MebitdaCapexMYR 15.43McapitalExpendituresInterestMYR 51.00KinterestExpenseShort-term debtMYR 0.00shortTermDebtEBITDA − capexMYR 18.85MPrincipal due is short-term debt.Result 369.53x -MYR 27.46MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow-MYR 12.03MtotalCashFromOperatingActivitiesCapexMYR 15.43McapitalExpendituresFree cash flow-MYR 27.46MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -MYR 27.46M 39.9%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 33.11MoperatingIncomeTax expenseMYR 218.00KtaxProvisionPretax incomeMYR 33.04MincomeBeforeTaxTax rate0.7%EquityMYR 109.82MtotalStockholderEquityDebtMYR 199.00KlongTermDebt + shortLongTermDebtCashMYR 27.64McashAndEquivalentsInvested capitalMYR 82.37MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 39.9% 1.25xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating incomeMYR 33.11MoperatingIncomeNet PP&EMYR 26.51MpropertyPlantEquipmentResult 1.25x
2020 15.5%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 39.69MpropertyPlantEquipmentInventoryMYR 0.00Not reported, treated as 0Total assetsMYR 255.34MtotalAssetsInventory was not reported and is treated as zero.Result 15.5% 5.53xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenueMYR 219.45MtotalRevenueNet PP&EMYR 39.69MpropertyPlantEquipmentResult 5.53x 18.27xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapexMYR 25.84McapitalExpendituresD&AMYR 1.41MreconciledDepreciationResult 18.27x MYR 0.30Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 255.34MtotalAssetsGoodwillMYR 45.00KgoodWillIntangiblesMYR 30.75MintangibleAssetsLiabilitiesMYR 71.57MtotalLiabTangible bookMYR 152.96MShares505,470,610commonStockSharesOutstandingResult MYR 0.30 11.09xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 47.60MebitdaCapexMYR 25.84McapitalExpendituresInterestMYR 1.96MinterestExpenseShort-term debtMYR 0.00shortTermDebtEBITDA − capexMYR 21.76MPrincipal due is short-term debt.Result 11.09x -MYR 26.69MFree cash flow · 2020-12-31Reported free cash flowOperating cash flowMYR 5.18MtotalCashFromOperatingActivitiesCapexMYR 25.84McapitalExpendituresFree cash flow-MYR 26.69MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -MYR 26.69M 28.5%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 46.21MoperatingIncomeTax expenseMYR 1.35MincomeTaxExpensePretax incomeMYR 44.22MincomeBeforeTaxTax rate3.1%EquityMYR 183.76MtotalStockholderEquityDebtMYR 130.00KshortLongTermDebtTotalCashMYR 26.51McashAndEquivalentsInvested capitalMYR 157.38MResult 28.5% 1.16xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating incomeMYR 46.21MoperatingIncomeNet PP&EMYR 39.69MpropertyPlantEquipmentResult 1.16x
2021 27.9%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 115.55MpropertyPlantEquipmentInventoryMYR 613.00KinventoryTotal assetsMYR 415.75MtotalAssetsResult 27.9% 5.14xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenueMYR 594.00MtotalRevenueNet PP&EMYR 115.55MpropertyPlantEquipmentResult 5.14x 18.51xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapexMYR 78.06McapitalExpendituresD&AMYR 4.22MreconciledDepreciationResult 18.51x MYR 0.25Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 415.75MtotalAssetsGoodwillMYR 39.88MgoodWillIntangiblesMYR 38.78MintangibleAssetsLiabilitiesMYR 38.51MtotalLiabTangible bookMYR 298.57MShares1,216,435,000commonStockSharesOutstandingResult MYR 0.25 2.73xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 83.40MebitdaCapexMYR 78.06McapitalExpendituresInterestMYR 1.96MinterestExpenseShort-term debtMYR 0.00shortTermDebtEBITDA − capexMYR 5.34MPrincipal due is short-term debt.Result 2.73x -MYR 25.00MFree cash flow · 2021-12-31Reported free cash flowOperating cash flowMYR 82.02MtotalCashFromOperatingActivitiesCapexMYR 78.06McapitalExpendituresFree cash flow-MYR 25.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -MYR 25.00M —ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 96.24MoperatingIncomeTax expense-MYR 105.00KincomeTaxExpensePretax incomeMYR 96.20MincomeBeforeTaxTax rate0.0%EquityMYR 377.23MtotalStockholderEquityDebt—Not reportedCashMYR 100.35McashAndEquivalentsInvested capital—Result — 0.83xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating incomeMYR 96.24MoperatingIncomeNet PP&EMYR 115.55MpropertyPlantEquipmentResult 0.83x
2022 49.1%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 251.20MpropertyPlantEquipmentInventoryMYR 0.00Not reported, treated as 0Total assetsMYR 511.41MtotalAssetsInventory was not reported and is treated as zero.Result 49.1% 1.43xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenueMYR 360.26MtotalRevenueNet PP&EMYR 251.20MpropertyPlantEquipmentResult 1.43x 3.20xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapexMYR 124.52McapitalExpendituresD&AMYR 38.88MdepreciationDepreciation comes from the cash-flow statement because income-statement D&A was missing.Result 3.20x MYR 0.31Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 511.41MtotalAssetsGoodwillMYR 0.00Not reported, treated as 0IntangiblesMYR 38.78MintangibleAssetsLiabilitiesMYR 96.00MtotalLiabTangible bookMYR 376.63MShares1,216,435,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result MYR 0.31 —Fixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 57.68MOperating income + D&ACapexMYR 124.52McapitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex-MYR 66.85MEBITDA is operating income plus D&A because the income statement did not report EBITDA.Result — -MYR 36.78MFree cash flow · 2022-12-31Operating cash flow − capexOperating cash flowMYR 87.74MtotalCashFromOperatingActivitiesCapexMYR 124.52McapitalExpendituresFree cash flow-MYR 36.78MNot reportedFree cash flow is operating cash flow minus capex because the statement did not report free cash flow.Result -MYR 36.78M —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 18.79MoperatingIncomeTax expense-MYR 1.82MincomeTaxExpensePretax incomeMYR 18.72MincomeBeforeTaxTax rate0.0%EquityMYR 415.41MtotalStockholderEquityDebt—Not reportedCashMYR 87.21McashAndEquivalentsInvested capital—Result — 0.07xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating incomeMYR 18.79MoperatingIncomeNet PP&EMYR 251.20MpropertyPlantEquipmentResult 0.07x
2023 0.5%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 1.01MpropertyPlantEquipmentInventoryMYR 0.00Not reported, treated as 0Total assetsMYR 220.71MtotalAssetsInventory was not reported and is treated as zero.Result 0.5% 397.17xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenueMYR 402.73MtotalRevenueNet PP&EMYR 1.01MpropertyPlantEquipmentResult 397.17x 1.17xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapexMYR 154.52McapitalExpendituresD&AMYR 131.81MdepreciationDepreciation comes from the cash-flow statement because income-statement D&A was missing.Result 1.17x MYR 0.16Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 220.71MtotalAssetsGoodwillMYR 0.00Not reported, treated as 0IntangiblesMYR 31.00KintangibleAssetsLiabilitiesMYR 17.29MtotalLiabTangible bookMYR 203.38MShares1,235,990,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result MYR 0.16 —Fixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 73.58MOperating income + D&ACapexMYR 154.52McapitalExpendituresInterest—Not reportedShort-term debtMYR 0.00shortTermDebtEBITDA − capex-MYR 80.95MEBITDA is operating income plus D&A because the income statement did not report EBITDA.Principal due is short-term debt.Result — -MYR 45.44MFree cash flow · 2023-12-31Operating cash flow − capexOperating cash flowMYR 109.08MtotalCashFromOperatingActivitiesCapexMYR 154.52McapitalExpendituresFree cash flow-MYR 45.44MNot reportedFree cash flow is operating cash flow minus capex because the statement did not report free cash flow.Result -MYR 45.44M —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-MYR 58.23MoperatingIncomeTax expense-MYR 22.82MtaxProvisionPretax income-MYR 58.34MincomeBeforeTaxTax rate—EquityMYR 203.42MtotalStockholderEquityDebt—Not reportedCashMYR 23.77McashAndEquivalentsInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — -57.43xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-MYR 58.23MoperatingIncomeNet PP&EMYR 1.01MpropertyPlantEquipmentResult -57.43x
2024 8.6%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 17.99MpropertyPlantEquipmentInventoryMYR 0.00Not reported, treated as 0Total assetsMYR 209.48MtotalAssetsInventory was not reported and is treated as zero.Result 8.6% 5.51xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenueMYR 99.11MtotalRevenueNet PP&EMYR 17.99MpropertyPlantEquipmentResult 5.51x 7.52xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapexMYR 20.00McapitalExpendituresD&AMYR 2.66MreconciledDepreciationResult 7.52x MYR 0.17Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 209.48MtotalAssetsGoodwillMYR 0.00goodWillIntangiblesMYR 0.00Not reported, treated as 0LiabilitiesMYR 844.00KtotalLiabTangible bookMYR 208.64MShares1,249,802,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result MYR 0.17 -801.26xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 4.78MebitdaCapexMYR 20.00McapitalExpendituresInterestMYR 19.00KinterestExpenseShort-term debtMYR 0.00shortTermDebtEBITDA − capex-MYR 15.22MPrincipal due is short-term debt.Result -801.26x MYR 3.14MFree cash flow · 2024-12-31Reported free cash flowOperating cash flowMYR 23.14MtotalCashFromOperatingActivitiesCapexMYR 20.00McapitalExpendituresFree cash flowMYR 3.14MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result MYR 3.14M —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 2.12MoperatingIncomeTax expenseMYR 138.00KtaxProvisionPretax incomeMYR 2.10MincomeBeforeTaxTax rate6.6%EquityMYR 208.64MtotalStockholderEquityDebt—Not reportedCashMYR 21.74McashAndEquivalentsInvested capital—Result — 0.12xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating incomeMYR 2.12MoperatingIncomeNet PP&EMYR 17.99MpropertyPlantEquipmentResult 0.12x
2025 0.1%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 145.00KpropertyPlantEquipmentInventoryMYR 0.00Not reported, treated as 0Total assetsMYR 201.20MtotalAssetsInventory was not reported and is treated as zero.Result 0.1% 2,129.79xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueMYR 308.82MtotalRevenueNet PP&EMYR 145.00KpropertyPlantEquipmentResult 2,129.79x 0.00xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexMYR 0.00capitalExpendituresD&AMYR 5.11MreconciledDepreciationResult 0.00x MYR 0.16Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 201.20MtotalAssetsGoodwillMYR 0.00Not reported, treated as 0IntangiblesMYR 0.00Not reported, treated as 0LiabilitiesMYR 557.00KtotalLiabTangible bookMYR 200.65MShares1,249,801,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result MYR 0.16 -317.22xFixed-charge coverage · 2025-12-31(EBITDA − capex) / interestEBITDA-MYR 2.86MebitdaCapexMYR 0.00capitalExpendituresInterestMYR 9.00KinterestExpenseEBITDA − capex-MYR 2.86MShort-term debt was not reported, so the denominator is interest only.Result -317.22x -MYR 16.37MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-MYR 16.37MtotalCashFromOperatingActivitiesCapexMYR 0.00capitalExpendituresFree cash flow-MYR 16.37MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -MYR 16.37M —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-MYR 7.97MoperatingIncomeTax expenseMYR 15.00KtaxProvisionPretax income-MYR 7.98MincomeBeforeTaxTax rate—EquityMYR 200.65MtotalStockholderEquityDebt—Not reportedCashMYR 5.27McashAndEquivalentsInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — -54.94xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income-MYR 7.97MoperatingIncomeNet PP&EMYR 145.00KpropertyPlantEquipmentResult -54.94x
  • Inventory was missing and treated as zero in the physical asset ratio.
  • Receivables are larger than the physical asset base, so a finance or credit book may sit outside the physical ratio and inside the debt used for coverage.
  • Fixed-charge coverage is EBITDA minus capex, divided by interest. Short-term debt was not reported, so principal due is left out.
Latest year inputs (2025)
Net PP&E: MYR 145.00K
Inventory: MYR 0.00
Total assets: MYR 201.20M
Goodwill: MYR 0.00
Intangibles: MYR 0.00
Liabilities: MYR 557.00K
Tangible book: MYR 200.65M
Shares: 1,249,801,000
Revenue: MYR 308.82M
Capex: MYR 0.00
D&A: MYR 5.11M
EBITDA: -MYR 2.86M
Interest: MYR 9.00K
Short-term debt: —
Free cash flow: -MYR 16.37M
Operating income: -MYR 7.97M
Invested capital: —
Tax rate: —