IGB Berhad, (5606) Fair Value & Analysis
Real Estate · MY · Market cap 4.6B MYR
Fair value as of: Jul 20, 2026
From 14 valuation models · updated 20 days ago
Share price −0.4% over the past month.
A solid business, screening 100% undervalued on our models.
What matters now
- The rarer combination: high quality (73/100) AND below fair value. That earns a closer look rather than a quick verdict.
- The price is below even our cautious bear case (2.93 MYR). The market is more pessimistic than our downside scenario.
- A fairly wide model range (2.93 MYR to 6.47 MYR) leaves room in how you read the outcome.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.
How to read this chart
60‑month range 0.5700 MYR – 2.57 MYR · fair‑value band 2.93 MYR – 6.47 MYR · the 2.38 MYR price screens below the 4.77 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.
Analysis
IGB Berhad, (5606) currently trades at 2.38 MYR, while our model-based Fair Value estimate is 4.77 MYR, implying the stock looks roughly 100.4% undervalued today. The Quality Score stands at 73/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, IGB Berhad, generated revenue of 1.9B MYR at a net margin of 40.4%. Revenue grew 1.1% year over year. It earns a return on equity of 21.2%. Net debt stands at 1.8B MYR. Fundamentals as of Jul 20, 2026
Our scenario range runs from 2.93 MYR (bear case) to 6.47 MYR (bull case); at 2.38 MYR, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 63% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at 100%, 5606 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 14 models by family
Widest divergence: DCF Models (5.02 MYR) versus Asset-Based (1.50 MYR). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 70 · Market factors (momentum, volatility) 71
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
IGB Berhad, together with its subsidiaries, engages in the property development, investment, and management businesses in Malaysia, Asia, Australia, the United States, and the United Kingdom. The company operates through four segments: Property Investment " Retail; Property Investment " Commercial; Property Development; and Hotel.
Full company description
IGB Berhad, together with its subsidiaries, engages in the property development, investment, and management businesses in Malaysia, Asia, Australia, the United States, and the United Kingdom. The company operates through four segments: Property Investment " Retail; Property Investment " Commercial; Property Development; and Hotel. It engages in the rental of retail malls and office buildings; development and sale of condominiums, bungalows, linked houses, shop lots, and office suites; operation of hotels; and project management services. The company is also involved in building construction, civil engineering, planning, and other related services; operation of international school for students from early years to grade 12; wastewater treatment services; provision of post-operative and hospitalization care, as well as retirement living; co-living spaces; management and maintenance of residential developments, as well as commercial properties; and operation of exhibition centers that offer space for various events, exhibitions, seminars, concerts, and consumer fairs. In addition, it engages in integrated healthcare and wellness; provision of money lending services; aquaculture; research and development of automated facilities management solution system; real estate investment trust management; consultancy services; special purpose vehicle to raise financing; food and beverage operations; general and building materials trading; selling and distribution of utilities; information and communication technology services; management services; and design, development, operation, ownership maintenance, and management of mobile related applications. The company was formerly known as Goldis Berhad and changed its name to IGB Berhad in March 2018. IGB Berhad was founded in 1964 and is based in Kuala Lumpur, Malaysia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
IGB Berhad, reported revenue of 1.9B MYR in FY2025 versus 930M MYR in FY2021, a compound +19.7%/yr. Reported net income was 361M MYR in FY2025, compounding +22.2%/yr from FY2021.
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Peer Group
Real Estate Services · 521 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Real Estate Services median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vingroup Joint Stock Company VIC | 223,000 VND | 25,731 VND | -88% |
| KE Holdings 2423 | HK$44.76 | HK$18.03 | -60% |
| Swire Properties Limited 1972 | HK$23.90 | HK$18.75 | -22% |
| Plaza S.A MALLPLAZA | 3,725 CLP | 5,571 CLP | +50% |
| SAGAA SAGAA | kr 170.00 | kr 75.55 | -56% |
| Cencosud Shopping S.A CENCOMALLS | 2,324 CLP | 2,976 CLP | +28% |
| PT Sarana Menara Nusantara Tbk. owns and TOWR | 372.00 IDR | 1,208 IDR | +225% |
| PT Metropolitan Kentjana Tbk MKPI | 20,975 IDR | 19,160 IDR | -9% |
| PT Bangun Kosambi Sukses Tbk, CBDK | 3,530 IDR | 3,464 IDR | -2% |
| IRSA Inversiones y Representaciones Sociedad Anónima, IRSA | 2,495 ARS | 3,998 ARS | +60% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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