PEOPLELOGY BERHAD

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***Disclaimer***Blogger is not wrote any recommendation & suggestion. All is personal opinion and reader should take their own risk in investment decision.

Open to apply: 21/04/2025
Close to apply: 06/05/2025
Balloting: 08/05/2025
Listing date: 20/05/2025

Share Capital      
Market cap: RM102.93 mil
Total Shares:  411.7169mil shares
1st day listing tradable shares: 205.182 mil shares

Industry CARG      
1. Public and private sector spending on training programmes in Malaysia (2021-2023): 21.7%
2. Labour force in Malaysia (2019-2023):  2.16%
Industry competitors comparison (net profit%)
1. PEOPLElogy: 18.7%
2. LGMS Berhad: 32.8%
3. Dream Catcher Consulting Sdn Bhd: 18.9%
4. Comfori Sdn Bhd: 14.1%
5. Compass Mind Asia Sdn Bhd: 8.7%
6. Others: losses to 8%

Business (FYE 2024)  
Provision of integrated people development solutions comprising. 
1. Organisational talent consultancy & profile assessment services under our Discovery business segment
2. ICT, soft skills and leadership training services; IR4.0 digital skills and certification services; and organisation of events, conferences and seminars on human resources under our Development business segment.
3. Learning and performance management system, online learning platform and training content digitalisation services under our Digital business segment.
Revenue by segment
1. Development: 97.56% 
2. Digital: 0.51%
3. Discovery: 1.93%
Revenue by Geo
1. Malaysia: 97.84%
2. Indonesia: 2.00%
3. Philippines: 0.16%

Fundamental   
1.Market: Ace Market
2.Price: RM0.25
3.Forecast P/E: 18.8
4.ROE(Pro forma II):  15.85%
5.ROE:  43.40%(FYE2024), 127.18%(FYE2023),  98.98%(FYE2022), 89.63%(FYE2021)
6.Net asset: 0.08
7.Total debt to current asset:  0.21 (Debt: 7.865mil, Non-Current Asset: 4.474mil, Current asset: 37.889mil)
8.Dividend policy:  no formal dividend policy.
9. Shariah status: Yes 

Past Financial Performance (Revenue, Earning Per shares, PAT%)  
2024 (FYE 31Dec): RM29.241 mil (Eps: 0.0133), PAT: 18.70%
2023 (FYE 31Dec): RM24.729 mil (Eps: 0.0141), PAT: 23.45%
2022 (FYE 31Dec): RM22.793 mil (Eps: 0.0116), PAT: 20.95%
2021 (FYE 31Dec): RM16.278 mil (Eps: 0.0088), PAT: 22.14%

Order Book (LPD: 24/03/2025)   
1. FYE2025: RM8.207 mil
2. FYE2026: RM0.987 mil

Major customer (FYE2024)   
1. Yayasan Peneraju: 51.18%
2. Customer B: 15.96%
3. Yayasan Pahang: 2.48%
4. Etiqa General Insurance Berhad: 2.05%
5. DIC (Malaysia) Sdn Bhd: 1.46%
***total 73.13%

Major Sharesholders     
1. Allen Lee, aged 56 : 24.27% (direct), 25.7% (indirect)
2. Peoplelogists: 21.01% (direct)
3. David Lim, aged 70: 5.96% (direct), 1.49% (indirect)
4. Tan Sri Nelson, aged 60: 5.22% (direct)
5. Lim Szu Yee, aged 54: 4.69% (direct)
6. Chen Khai Voon, aged 64: 10% (direct)

Directors & Key Management Remuneration for FYE2025   
(from Revenue & other income 2024)
Total director remuneration: RM1.8558 mil
key management remuneration: RM0.2 mil – RM0.25 mil
total (max): RM2.1058 mil or 10.22%

Use of Fund

Conclusions (Blogger is not wrote any recommendation & suggestion. All is personal opinion and reader should take their own risk in investment decision)
Overall is high risk investment, and also come with low-middle grow return opportunities. 

*Valuation is only personal opinion & view. Perception & forecast will change if any new quarter result release. Reader take their own risk & should do own homework to follow up every quarter result to adjust forecast of fundamental value of the company.