Jcbnext Bhd. · MYX:JCBNEXT
Jcbnext Bhd — Shareholder Meeting (June 2025)
20 slides from Jcbnext Bhd's shareholder meeting presentation, Jun 18, 2025
Slide 1: JcbNext Berhad 21st Annual General Meeting
JcbNext Berhad 21st Annual General Meeting 18th June 2025
Slide 2: Performance Update
JcbNext Berhad Performance Update
Slide 3: Net Profit Performance (RM 000)
Net Profit Performance (RM 000) 2024 2023 RM'000 RM'000 Change Revenue 14,617 10,908 34.0% Other Operating Income 19 1,187 -98.4% Less: Operating Expenses Contract & Outsourcing Costs - (179) 100.0% Depreciation of PPE (22) (28) 21.2% Depreciation of ROU (64) (62) -3.3% Staff Costs (2,210) (2,136) -
Slide 4: Assets under Management (AUM) Summary
Assets under Management (AUM) Summary 2024 2023 Assets RM'000 RM'000 Investment Properties 18,500 18,000 Investment in Associates (at market value) 104 Corporation 134,207 195,954 Innity 9,945 14,040 144,152 209,994 Financial Assets at Fair Value Through Other Comprehensive Income Lion Rock 39,951 3
Slide 5: Assets by Currency (RM 000)
Assets by Currency (RM 000) MYR TWD HKD SGD USD Others 5
Slide 6: Adjusted Net Cash Flow Performance
“Adjusted Net Cash Flow’ Performance 2024 2023 RM'000 RM'000 1 Cash Inflow 1.1 Dividends received from Investee Companies 19,822 20,764 104 9,861 12,900 Lion Rock 3,807 4,062 Equity Portfolio Fund 6,154 3,802 Others - - 1.2 Revenue from operations - 201 1.3 Rental Income 1,334 1,333 1.4 Interest inc
Slide 7: Dividend Track Record (RM 000)
Dividend Track Record (RM 000) DIVIDEND FREE DPS NET PROFIT % OF NET % OF FREE FY PAYOUT CASHFLOW (SEN) RM'000 PROFIT CASHFLOW RM'000 RM'000 2005 2.75 * 5,553 16,371 33.92% 2006 1.50 * 3,046 21,709 14.03% 2007 3.50 10,824 28,886 37.47% 2008 3.50 10,893 32,809 33.20% 2009 3.00 9,417 27,687 34.01% 201
Slide 8: Share Buy-Back
Share Buy-Back 2025 YTD (11 June) 2024 2023 2022 2021 Total buyback 371,000 658,500 - - 2,090,200 Avg Buyback Price 1.62 1.62 - - 1.31 Adjusted net asset value per share 3.68 * 3.54 3.47 3.38 3.22 Discount to Adjusted NAV per share 56% 54% - - 59% * Unaudited as at 31 March 2025 • Management believe
Slide 9: Investment Strategy & Direction
JcbNext Berhad Investment Strategy & Direction
Slide 10: Business objective & strategy - Overview
Business objective & strategy - Overview Business Objective Key Success Factor 10-Year Performance Measurement 10
Slide 11: What type of investments?
What type of investments? Focused on smaller positions in equities, but remain open to larger investments into businesses. However, we look at both just the same - investing in ‘businesses’ a) Focused on mature companies returning dividend income b) Small allocation to “deep value” or “growth” compa
Slide 12: Our Portfolio
Our Portfolio What we own (at market value) 12
Slide 13: Some existing investments – 104 Corp
Some existing investments – 104 Corp Business Description: Largest Job Portal in Taiwan Market Cap*: TWD 7,567m (RM 1070.5m) JcbNext holding*: 11.6% (RM 123.8m) Investment cost: RM 75.3m Dividends received in 2024: RM 8.6m Dividends received since 2008: RM 106.0m Why we like the investment • Being t
Slide 14: Some existing investments – Equity Portfolio
Some existing investments – Equity Portfolio Equity Portfolio (as at 10 June 2025) Segment data based on market value ** Inception: H1 2020 Total investment cost: RM 161.2 m Current market value: RM 186.1 m Invested in: 30 companies, 2 ETFs Our share of dividends announced by portfolio companies fro
Slide 15: Key performance metrics we monitor (1)
Key performance metrics we monitor (1) Objective 1: Recurring Free Cash Flow Per Share continues to grow, over a 10-year rolling period 15
Slide 16: Key performance metrics we monitor (2a)
Key performance metrics we monitor (2a) Objective 2: Market Value of JcbNext AUM Per Share grows faster, compounded over 10-year rolling period, than KLSE Index Fund, 12-Month Ringgit FD, S&P500 Index ETF (assuming dividends/interests reinvested, based RM 1.00) * Note: We omitted the USD-MYR exchang
Slide 17: Key performance metrics we monitor (2b)
Key performance metrics we monitor (2b) Market Value of your investments / underlying asset(s) at year end, if RM 1 was invested in December 2014 • Our share price fell significantly for considerable period, before some recovery in 2023-24. • Fall came despite the Market Value of underlying assets p
Slide 18: Key performance metrics we monitor (3)
Key performance metrics we monitor (3) Objective 3: Investment Holding Opex/AUM less than 1.00%, over 10-year rolling average basis 18
Slide 19: Key performance metrics we monitor (4)
Key performance metrics we monitor (4) Objective 4: Debt/ Borrowings at end of financial year (RM) * 'Loan from an associate' ** Covid-19 related government loan taken by subsidiary in Japan 19
Slide 20: Thank You
Thank You