TBK & Sons Holdings Limited (1960) AI Stock Analysis

• Market Cap: HK$260.00M
• Dividend Yield: N/A
• Average Volume (3M): 46.33K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.37
• Revenue Growth: -63.92%
• EPS Growth: 7.54%
• Country: HK
• Employees: 509
• Sector: Energy
• Sector Strength: 52
• Industry: Engineering & Construction
• EPS (TTM): -0.04
• Shares Outstanding: 1,000,000,000
• 10 Day Avg. Volume: 111,000
• 30 Day Avg. Volume: 46,333
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: HK$0.20 ▼(-24.81% Downside)

TBK & Sons Holdings Limited's overall stock score is driven by significant financial challenges and concerning valuation metrics. Despite the short-term technical strength, the high RSI and negative P/E ratio suggest potential overvaluation. The company's financial difficulties highlight the need for strategic improvements to restore profitability and enhance liquidity.

Positive Factors

Business Model Diversification

The company's diversified business model across construction, engineering, and property development provides resilience against sector-specific downturns, ensuring stable revenue streams over time.

Corporate Governance Improvements

Updating governance practices, including the Nomination Committee's terms, reflects a commitment to robust governance, enhancing long-term stakeholder confidence and strategic alignment.

Financial Flexibility

Issuing a promissory note enhances financial flexibility, allowing the company to manage operations effectively and invest in growth opportunities, supporting long-term operational capacity.

Negative Factors

Declining Revenue and Profitability

Declining revenue and profitability indicate operational challenges, potentially impacting the company's ability to invest in growth and sustain competitive advantages over time.

Negative Cash Flow

Negative cash flow highlights liquidity challenges, limiting the company's ability to fund operations and growth internally, which could pressure financial stability and strategic initiatives.

Auditor Change

Frequent auditor changes can raise concerns about financial transparency and reliability, potentially affecting investor confidence and the company's reputation in the long term.

TBK & Sons Holdings Limited Business Overview & Revenue Model

Company Description

TBK & Sons Holdings Limited undertakes civil and structural works in the oil and gas industry in Malaysia. The company's civil and structural works services include site preparation works, such as earthwork, demolition works, and temporary facilities, as well as infrastructure construction, including building temporary site offices, canteens, warehouses, etc.; and civil works for process plants comprise reinforced concrete foundations, pipe supports, ponds, pits, underground and open drainage networks, paving work, and related plant civil maintenance works. It also undertakes building works, such as the building of sub-stations, field auxiliary rooms, workshops, and storage buildings, etc. in addition, the company trades in oil and related products in the People's Republic of China. TBK & Sons Holdings Limited was incorporated in 1975 and is headquartered in Port Dickson, Malaysia. TBK & Sons Holdings Limited is a subsidiary of TBK & Sons International Limited.

How the Company Makes Money

TBK & Sons Holdings Limited generates revenue through multiple streams. The core of its earnings comes from contracts in the construction and engineering sectors, where it undertakes infrastructure projects such as roads, bridges, and commercial buildings. The company also earns by providing specialized engineering services and project management solutions that are often part of long-term contracts, ensuring a steady revenue flow. Additionally, TBK & Sons Holdings Limited may engage in property development projects, where it profits from developing and selling residential and commercial properties. Significant partnerships with government bodies and private sector firms typically enhance its project portfolio, contributing to its overall financial performance.

TBK & Sons Holdings Limited Financial Statement Overview

Summary

TBK & Sons Holdings Limited faces significant financial challenges. The income statement shows declining revenues and profitability, with negative EBIT and net income. The balance sheet is stable but shows reductions in assets and equity. Cash flow difficulties, including negative operating and free cash flow, highlight liquidity issues. Overall, financial performance is weak, requiring strategic improvements.

Income Statement

TBK & Sons Holdings Limited has experienced a significant decline in revenue over the past few years. The company reported a negative EBIT and net income in 2024, reflecting operational challenges and declining profitability. Gross profit margin has significantly decreased, indicating pressure on cost management. The net profit margin also turned negative, highlighting the company's struggle to generate profit. Despite these challenges, the company has shown the ability to generate revenue, although at a declining rate.

Balance Sheet

The balance sheet of TBK & Sons Holdings Limited reveals a stable equity position with a debt-to-equity ratio that remains relatively low, suggesting manageable leverage. However, the declining stockholders' equity and total assets over the recent periods indicate potential concerns about asset management and equity preservation. The equity ratio remains healthy, reflecting a solid foundation despite the reduction in total assets.

Cash Flow

The cash flow situation is concerning, with negative operating cash flow and free cash flow in recent years. The free cash flow growth has been negative, and the operating cash flow to net income ratio indicates inefficiency in converting income into cash. This highlights the company's challenges in maintaining liquidity and funding operations through internal cash generation.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	97.41M	97.41M	288.09M	367.94M	825.91M	189.08M
Gross Profit	6.34M	6.34M	4.89M	14.22M	30.88M	13.30M
EBITDA	-28.51M	-28.51M	-34.06M	-9.51M	18.92M	1.50M
Net Income	-28.34M	-28.34M	-32.74M	-8.72M	10.40M	602.00K
Balance Sheet
Total Assets	146.23M	146.23M	181.52M	197.70M	241.38M	164.61M
Cash, Cash Equivalents and Short-Term Investments	25.89M	25.89M	29.54M	46.78M	75.05M	75.82M
Total Debt	4.61M	4.61M	4.79M	9.29M	11.11M	7.99M
Total Liabilities	71.65M	71.65M	74.29M	53.24M	88.54M	25.90M
Stockholders Equity	80.67M	80.67M	110.92M	143.01M	151.57M	138.71M
Cash Flow
Free Cash Flow	3.51M	0.00	-12.10M	-29.34M	-5.09M	-2.76M
Operating Cash Flow	3.51M	0.00	-11.98M	-28.53M	-4.10M	-1.97M
Investing Cash Flow	545.00K	0.00	-386.00K	899.00K	9.06M	31.11M
Financing Cash Flow	-1.01M	0.00	-5.35M	-1.23M	-5.47M	-1.70M

TBK & Sons Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.27
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1960, the sentiment is Positive. The current price of 0.27 is above the 20-day moving average (MA) of 0.26, above the 50-day MA of 0.24, and above the 200-day MA of 0.20, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 52.29 is Neutral, neither overbought nor oversold. The STOCH value of 45.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1960.

TBK & Sons Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
1793	54 Neutral	HK$176.00M	20.18	3.17%	5.63%	-9.62%	-2.68%
1960	52 Neutral	HK$260.00M	-5.17	-30.14%	―	-63.92%	7.54%
1742	52 Neutral	HK$196.80M	1.54	22.81%	―	-3.44%	1060.87%
1707	46 Neutral	HK$105.84M	-6.85	-9.58%	―	3.97%	14.02%

TBK & Sons Holdings Limited Corporate Events

TBK & Sons to Relocate Hong Kong Principal Place of Business in January 2026

TBK & Sons Holdings Limited has announced a change to its principal place of business in Hong Kong, relocating its office to Unit A, 12/F, Eton Building, 288 Des Voeux Road Central, effective 2 January 2026. The move, which leaves the company’s Hong Kong telephone and fax numbers unchanged, represents an administrative shift in its local corporate footprint and does not signal any immediate change to its operational structure or governance, with the existing board composition remaining in place.

The most recent analyst rating on (HK:1960) stock is a Hold with a HK$0.20 price target. To see the full list of analyst forecasts on TBK & Sons Holdings Limited stock, see the HK:1960 Stock Forecast page.

TBK & Sons Wins Strong Shareholder Backing at 2025 AGM

TBK & Sons Holdings Limited announced that all resolutions proposed at its annual general meeting held on 19 December 2025 were duly approved by shareholders through poll voting, with around 98.84% of votes cast in favour of each resolution. The meeting confirmed the adoption of the group’s audited financial statements for the year ended 30 June 2025, the re-election of several executive, non-executive and independent non-executive directors, the re-appointment of Asian Alliance (HK) CPA Limited as auditor, and the granting and extension of general mandates for share issuance and repurchase, underscoring strong shareholder support for the current board, capital management flexibility and the company’s governance framework.

The most recent analyst rating on (HK:1960) stock is a Hold with a HK$0.20 price target. To see the full list of analyst forecasts on TBK & Sons Holdings Limited stock, see the HK:1960 Stock Forecast page.

TBK & Sons Holdings Limited Announces AGM and Strategic Resolutions

TBK & Sons Holdings Limited has announced its upcoming Annual General Meeting (AGM) to be held on December 19, 2025, in Hong Kong. The agenda includes the adoption of financial statements for the year ended June 30, 2025, re-election of directors, re-appointment of auditors, and authorization for the board to issue additional shares. This meeting is significant as it outlines the company’s governance and strategic plans, potentially impacting its operational dynamics and shareholder interests.