SLGC Berhad’s residential sector remains the core revenue engine, contributing over 91% of Q2 2026 revenue and 90.4% of 1H 2026 revenue through its residential building contracts. Key ongoing projects supporting this segment include Tuju Residences, Kamelia Residences, Arte Star, and Seduduk D’Kajang, highlighting the company’s continued strong focus on residential construction as its primary operational and revenue driver

https://youtu.be/pc5KdlLalYA?si=wVdLTQ_jKuKgT5y-
SLGC IPO @ RM0.28: RM1 Billion Order Book vs. Shrinking Margins? @YZFinanceMY

SLGC Berhad is hitting the ACE Market at RM0.28—but are the latest numbers a Green Flag? 🚩📈

Investors have something the Prospectus story didn't show: SLGC's latest Q2 FY2026 results.

Here’s the breakdown before you decide:
✅ The Bull Case:
• Massive Order Book: RM1.00 billion in unbilled contracts, providing revenue visibility until 2030.
• Earnings Jump: 1H FY2026 revenue hit RM203.12 million—that’s already 62.7% of the total revenue they made in the whole of 2025!
• Machinery Growth: Using IPO proceeds to buy RM9.24 million in aluminium formwork and hoists to cut rental costs.

⚠️ The Bear Case:
• Margin Pressure: Gross profit margins dipped from 17.5% in 2024 to 13.8% in 1H 2026 as they take on more residential projects.
• Cash Flow Lag: RM131 million is currently tied up in contract assets (work done but not yet billed).
• Litigation Risks: Ongoing arbitration and suits with past clients and subcontractors.

The Verdict: At RM0.28, SLGC is trading at a TTM PE of roughly 9.18x. Is the RM1 billion order book enough to offset the margin squeeze?

Watch our full explainer video here:
https://youtu.be/pc5KdlLalYA?si=wVdLTQ_jKuKgT5y-

#BursaMalaysia #IPO #SLGC #Investing #StockMarket #ACEMarket


SLGC Berhad 即将以 RM0.28 上市 ACE Market！最新 Q2 业绩是利好还是隐忧？🚩📈

SLGC 上市在即，投资者现在拥有了比招股书更关键的信息：2026年第二季度（Q2）的最新业绩！

在申请申购前，先看这些重点：
✅ 看好理由：
• 订单爆棚： 拥有高达 RM10亿 的未入账订单，收入可见度直达 2030 年。
• 业绩冲刺： 2026上半年营收已达 RM2.03 亿，占了 2025 全年营收的 62.7%，工程进度明显加快。
• 降本增效： IPO 集资将拨出 RM924 万购买自有铝模板和升降机，减少租借开支。

⚠️ 风险提醒：
• 利润收窄： 毛利率（GP Margin）从 2024 年的 17.5% 下滑至目前的 13.8%，主要是因为住宅项目占比增加。
• 现金流压力： 账面上仍有 RM1.31 亿的合同资产（已完工但未结算），现金流回正仍需时间。
• 法律诉讼： 目前仍卷入多宗与前客户和分包商的法律仲裁案。

总结： 以 RM0.28 发售价计算，SLGC 的滚动市盈率（TTM PE）约为 9.18 倍。面对 RM10 亿的订单和收缩的利润率，你觉得这估值合理吗？

点击观看完整分析视频：https://youtu.be/pc5KdlLalYA?si=wVdLTQ_jKuKgT5y-

#马股 #IPO #SLGC #投资 #大马股票 #ACEMarket