InvestIdeas

99 Speed Mart founder could land RM1.7b windfall from IPO that aims to raise RM2.36b
https://theedgemalaysia.com/node/722867

not vested

99 Speed Mart’s premium valuation justified

TA Research assigned a fair value of RM1.71 per share for the Main Market-bound 99 Speed Mart.

(IPO) price of RM1.65 (Forward PE of 29 times)

Extensive network of over 2,500 outlets.

Market share of 40.1% and 11.6% in the mini-market industry and grocery-based retailer industry,

Sales growth for the financial years of 2024 to 2026 (FY24 to FY26) to be between 4.7% and 7.6%.

It forecast the group’s net profit to grow by 11.4% in FY24, 10.6% in FY25 and 11.5% in FY26.

Profit after tax margin is likely to improve gradually to 4.6%, 4.9%, 5% in FY24, FY25 and FY26.

Forward dividend yield of 1.6% to 2%.

Source: The Star

https://www.thestar.com.my/business/bus ... -justified

not vested

99 Speed Mart reports higher 2Q24 revenue

Revenue of RM2.4bil for the second quarter ended June 31, 2024 (2Q24), reflecting a RM183.3mil or 8.2% year-on-year (y-o-y) increase due to higher sales from new outlets and positive impact of its bulk sales eCommerce platform.

Net profit rose by RM50mil or 66.3% to RM125.5mil mainly due to the reasons stated above and the upward adjustment of the distribution centre fee rates charged to the suppliers for the handling of products.

Source: The Star

https://www.thestar.com.my/business/bus ... 24-revenue

Malaysia's biggest IPO in seven years to turn 99 Speed Mart founder into billionaire
https://www.theedgesingapore.com/news/i ... illionaire

After IPO, 99 Speed Mart’s billionaire founder sets his sights beyond Malaysia
https://www.theedgesingapore.com/news/m ... d-malaysia

not vested

99 Speed Mart Retail Holdings Bhd

99 Speed Mart Retail Holdings Bhd (KL:99SMART) will continue to be supported by multiple factors, including a stronger ringgit, the RM100 MyKasih programme and Visit Malaysia 2026.

The Sumbangan Asas Rahmah (Sara) initiatives brought in a new wave of customers, strengthening customer loyalty and sustaining long-term growth.

The minimart chain posted a record quarterly net profit of RM160.65 million for the July-to-September period last year on the back of higher sales and store expansion.

It successfully met its target of operating 3,000 outlets by end-2025, following the opening of its milestone store in Bestari Jaya, Selangor, in November.

It plans to open another 250 outlets across the country in 2026.

99 Speed Mart’s shares are trading at a price-earnings ratio (PER) of 56.1 times, significantly higher than the 34.7 times when it was listed in September 2024.

Source: The Edge

not vested

99 Speed Mart Retail (99SMART MK) 4Q25: Within Expectations As SSSG Remains Robust

Results fell within expectations as the previous quarter’s robust SSSG was sustained.

Margins were largely unchanged, save for a higher effective tax rate that marginally lowered core margins.

Dividend payout was raised.

Maintain HOLD with an unchanged target price of RM3.80.

Source: UOBKH

https://research.uobkayhian.com/content ... e=hs_email

not vested

5326 99SMART (BUY)
Good start

99SMart delivered a strong 1Q26 performance, with revenue of RM3.1bn (+0.3% QoQ; +17.5% YoY) and core PAT of RM188.4m (+21.4% QoQ; +33.6% YoY), accounting for 27%/26% of our/consensus full-year estimate.

YoY growth remained robust, underpinned by network expansion with 253 net new outlets, extended operating hours nationwide and resilient SSSG of 11.1%.

We remain constructive on 99SMart’s growth trajectory, supported by its defensive consumer staple positioning, aggressive outlet rollout strategy, and improving operational efficiencies.

We update our model and introduce FY28 forecasts, while reiterating BUY with a higher TP of RM4.24 based on DCF valuation (WACC: 6.93%, TG: 3.5%).

Source: HLIB