Megan Holdings Ltd. (MGN) Form 6-K — Sep 25, 2026
Megan Holdings reported a net loss of MYR5.8 million (US$1.4 million) for the six months ended June 30, 2026, versus net income of MYR1.9 million a year earlier, as revenue fell 8.4% and gross margin compressed to 11.6%. The loss was driven by a MYR3.8 million jump in G&A (including MYR1.07 million of tax penalties and MYR2.79 million of professional fees), a MYR1.4 million credit-loss allowance on receivables due entirely from two customers, and a MYR2.77 million income tax charge reflecting a prior-year underprovision.
Key figures
- Eps
- -MYR5.74 (US$-1.41) basic and diluted, restated for 1-for-30 share consolidation
- Revenue
- MYR12,777,311 (US$3,130,159) for six months ended June 30, 2026
- Net Income
- -MYR5,834,069 (US$-1,429,218)
- Total Debt
- MYR25,157 bank loan plus MYR41,290 lease liabilities (current)
- Revenue Yoy
- -8.4%
- Total Assets
- MYR162,325,743 (US$39,766,228)
- Cash Position
- MYR325,817 (US$79,818)
- Tax expense
- MYR2,774,576 including MYR2,765,139 prior-year underprovision
- Gross margin
- 11.6% (down from 16.6%)
- Working capital
- MYR72,144,261 (US$17,673,753)
- Ipo gross proceeds
- US$8,300,000 (February 27, 2026)
- Reverse split ratio
- 1-for-30 effective September 17, 2026
- Credit loss allowance
- MYR1,409,106 (5% of MYR28,182,125 receivables, all due from two customers)
- Marketable securities
- MYR33,237,789 (US$8,142,525)
- Operating cash outflow
- MYR24,198,827 (US$5,928,178)
- Advances to subcontractors
- MYR101,134,288 (US$24,775,671)
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