Research analysts covering Megan Holdings.
Recent press releases and 8-K filings for MGN.
Megan Holdings Ltd. Reports Significant Revenue and Net Income Decline in H1 2025
MGN
Earnings
Revenue Acceleration/Inflection
- Megan Holdings Ltd. reported a substantial decrease in revenue for the six months ended June 30, 2025, falling to MYR 13,944,813 from MYR 29,329,718 in the prior year period, primarily due to the completion of new aquaculture and agriculture farm development projects in 2024.
- Net income also declined to MYR 1,879,282 for the six months ended June 30, 2025, compared to MYR 2,726,888 in the same period of 2024.
- Net cash provided by operating activities decreased significantly to MYR 806,763 for the six months ended June 30, 2025, from MYR 10,226,843 in the corresponding 2024 period.
- Accounts receivable, net, saw a 91% decrease, from MYR 34,040,469 as of December 31, 2024, to MYR 3,130,215 as of June 30, 2025, mainly attributed to customer advances.
Jan 15, 2026, 12:53 PM
Megan Holdings to Vote on Dual-Class Share Structure and CEO Voting Control
MGN
Proxy Vote Outcomes
Accounting Changes
- Megan Holdings Limited will hold an Annual General Meeting on January 27, 2026, to vote on key proposals, including the adoption of a dual-class share capital structure.
- The proposed dual-class structure would establish Class A Ordinary Shares with one vote and Class B Ordinary Shares with fifty votes per share.
- The proposals include the redesignation of shares, notably for Star Sprite Limited, which is 100% controlled by CEO Hoo Wei Sern, to receive 5,000,000 Class B Ordinary Shares and 5,845,000 Class A Ordinary Shares.
- If approved, these proposals would grant Hoo Wei Sern voting control of the Company through Star Sprite Limited.
- The Board of Directors unanimously recommends shareholders vote "FOR" all proposals.
Jan 14, 2026, 12:00 PM
Megan Holdings Limited Announces Closing of Initial Public Offering
MGN
- Megan Holdings Limited announced the closing of its initial public offering on September 29, 2025.
- The company offered 1,250,000 ordinary shares at a public offering price of US$4.00 per share, generating US$5 million in aggregate gross proceeds before deducting underwriting discounts and other related expenses.
- The Ordinary Shares, trading under the ticker symbol "MGN" on the Nasdaq Capital Market, began trading on September 26, 2025.
- Proceeds from the offering will be used for sales and marketing, expansion opportunities through merger and acquisition activities, development of its "Smart Farming System," and general working capital and corporate purposes.
Sep 29, 2025, 8:30 PM
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