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Bertam Alliance Berhad, an investment holding company, (9814) Fair Value & Analysis

Real Estate · MY · Market cap 60.5M MYR

BA Bertam Alliance Berhad, an investment holding company, 9814 · KLSE
Price0.1250 MYR
Fair Value0.0400 MYR
Upside-68.0%
Quality35/100
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Mixed Growth
Thin margins · 4.8% net margin
Low debt · negative free cash flow
Trails peers (4/11)
Narrow moat 28/100
Evidence: High Range 0.0300 MYR – 0.0500 MYR Share as image

Fair value as of: Jul 15, 2026

From 7 valuation models · updated 26 days ago

Below-average quality, and screening another 68% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (0.0500 MYR). The favourable scenario is already priced in.
  • Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

0.4531 MYR 0.0461 MYR Fair Value 0.0400 MYR Apr 2017 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range 0.0461 MYR – 0.4531 MYR · fair‑value band 0.0300 MYR – 0.0500 MYR · the 0.1250 MYR price screens above the 0.0400 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

Full chart & analysis →

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Analysis

Bertam Alliance Berhad, an investment holding company, (9814) currently trades at 0.1250 MYR, while our model-based Fair Value estimate is 0.0400 MYR, implying the stock looks roughly 68.0% overvalued today. The Quality Score stands at 35/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Bertam Alliance Berhad, an investment holding company, generated revenue of 28.0M MYR at a net margin of 4.8%. Revenue grew 50.3% year over year. It earns a return on equity of 0.9%. Net debt stands at 7.8M MYR. Fundamentals as of Jul 15, 2026

Our scenario range runs from 0.0300 MYR (bear case) to 0.0500 MYR (bull case); at 0.1250 MYR, the current price sits above 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 26% below its 52-week high and 39% 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 -68%, 9814 screens richer 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.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income 0.1900 MYR 0.1700 MYR 0.1000 MYR 61
P/S Multiple 0.0300 MYR 0.0400 MYR 0.0500 MYR 58
P/B Multiple 0.0300 MYR 0.0400 MYR 0.0500 MYR 55
All 7 models by family
Multiples
P/S Multiple 0.0300 MYR 0.0400 MYR 0.0500 MYR 58
P/B Multiple 0.0300 MYR 0.0400 MYR 0.0500 MYR 55
EV/EBIT 0.0600 MYR 0.0800 MYR 0.1000 MYR 53
EV/EBITDA 0.0500 MYR 0.0700 MYR 0.0800 MYR 54
EV/Revenue 0.0400 MYR 0.0500 MYR 0.0600 MYR 43
Asset-Based
NCAV (Graham) 0.1600 MYR 0.2100 MYR 0.3200 MYR 50
Economic Profit
Residual Income 0.1900 MYR 0.1700 MYR 0.1000 MYR 61

Widest divergence: Asset-Based (0.2100 MYR) versus Multiples (0.0500 MYR). Highest evidence: Residual Income (61).

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Key figures & financial health

Revenue (TTM) 28.0M MYR
Revenue growth (YoY) +50.3%
Net margin 4.8%
Return on equity 0.9%
Free cash flow −2.0M MYR FY2025
Operating margin 3.7%
More key figures
EPS growth (YoY) +53.1%
Net debt 7.8M MYR FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 35/100

Of which business quality 35 · Market factors (momentum, volatility) 53

Profitability 14
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 52
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 54
Distance to the 52-week high (market factor)
Net Issuance 40
Buybacks instead of dilution

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

Bertam Alliance Berhad, an investment holding company, engages in the development of residential, commercial, and mixed-development properties in Malaysia. The company operates through three segments: Property Development, Construction and Trading, and Corporate and Other.

Full company description

Bertam Alliance Berhad, an investment holding company, engages in the development of residential, commercial, and mixed-development properties in Malaysia. The company operates through three segments: Property Development, Construction and Trading, and Corporate and Other. It is involved in general construction works and supply of building materials, as well as provides construction management services. The company was formerly known as UH Dove Holdings Berhad and changed its name to Bertam Alliance Berhad in January 2003. Bertam Alliance Berhad was incorporated in 1994 and is based in Kota Kinabalu, Malaysia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bertam Alliance Berhad, an investment holding company, reported revenue of 25.2M MYR in FY2025 versus 3.5M MYR in FY2021, a compound +63.7%/yr. Reported net income was 1.2M MYR in FY2025.

Growth Quality 44/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
25.2M MYR
Latest YoY
−23.2%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.3%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+31.6%
Avg. growth/yr (13Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−3.7%
Revenue +63.7%/yr
FY21 3.5M MYR
FY22 21.6M MYR
FY23 22.7M MYR
FY24 32.8M MYR
FY25 25.2M MYR
Net income
FY21 −4.5M MYR
FY22 15.3M MYR
FY23 570K MYR
FY24 1.8M MYR
FY25 1.2M MYR

9814 screens 68% overvalued. Compare with Vingroup Joint Stock Company →

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Cite: Fair Value Calculator (2026). "Bertam Alliance Berhad, an investment holding company, Fair Value". https://www.fairvalue-calculator.com/stock/9814

Peer Group

Real Estate Services · 520 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.

Quality Score 37 · Bottom 25%
Fair Value upside −68% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets 0% · Bottom 25%
Net margin (TTM) 5% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth 50% · Top 25%

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/B 0.10× · Cheaper than 75% of peers
P/S (TTM) 0.53× · Cheaper than median
EV/EBITDA 79.6× · Pricier than 75% of peers

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.

VALUE 0 · sector 37
FUTURE 100 · sector 10
PAST 4 · sector 16
HEALTH 100 · sector 85
DIVIDEND 0 · sector 49

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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 15, 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

Is Bertam Alliance Berhad, an investment holding company, (9814) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of 0.0400 MYR versus a price of 0.1250 MYR, about −68% (overvalued).
What is the fair value of 9814?
Our model-based fair value for Bertam Alliance Berhad, an investment holding company, is 0.0400 MYR (as of Jul 15, 2026), built from audited fundamentals. The current price is 0.1250 MYR.
What is the quality score of 9814?
Bertam Alliance Berhad, an investment holding company, has a Quality Score of 35/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Bertam Alliance Berhad, an investment holding company, (9814)?
Bertam Alliance Berhad, an investment holding company, reported trailing-twelve-month revenue of about 28.0M MYR (latest available figure, as of Jul 15, 2026).
What is the net profit margin of 9814?
The net profit margin of Bertam Alliance Berhad, an investment holding company, is about 4.8%, meaning it keeps roughly 4.8% of revenue as net income. Based on the latest reported figures.

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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