EG Growth Trend Checklist:
Revenue ✅
PAT ✅
EPS ✅
ROE ✅
Margin ✅

aiyo when in doubts, ask chatgpt lah...

When a transaction is classified as an agent arrangement, revenue must be shown net, not gross.

Example:

1. Customer pays RM100
2. Company passes RM90 to the provider
3. Company keeps RM10 as fee

Before (principal): They might have reported RM100 revenue
After (agent): They must report only RM10 revenue

So revenue becomes smaller after reclassification.

This adjustment has also been published earlier in the annual report.

Does it mean q4 2025 - revenue from core business only 104 million in contrast to the initially reported 417 million? After Adjusted with a 300 million deduction in revenues, so last quarter core revenue actually is a decline??? Wow

⭐ 3. Why many people misunderstand EG’s quarterly results

People think EG’s profit is unstable.
Actually, the business volume is stable — but MFRS 15 shifts revenue based on customer delivery timing.

Meaning:

Factory could be running at FULL load

Workers working OT

Inventory full

BUT profit still low because revenue not recognised yet


This happens when customer delays pull orders.

Core profit (excluding foreign exchange effects) surged to RM23.948 million in Q1’26, outperforming the RM20.094 million recorded in Q1’25. Quarter-on-quarter momentum is even stronger, with core profit jumping from RM14.825 million in Q4’25 to RM23.948 million in Q1’26. This clearly reflects accelerating earnings strength both YoY and QoQ. Coupled with several highly positive indicators this quarter, the results point to solid growth traction and a bullish outlook moving forward.

EG Industries Bhd (EG: 8907) is a global electronic manufacturing services (EMS) and vertical integration (VI+) provider. Following the operational ramp-up of its PG2 Batu Kawan Smart Factory under its collaboration with Cambridge Industries Group (CIG), earnings visibility has improved as utilisation normalises and optical module production scales. We revise our core net profit forecast to RM105.2m for FY26F and introduce FY27F net profit of RM137.3m, reflecting stronger contributions from high