Hiap Huat Holdings Bhd (XKLS:0160) Graham Number: RM0.25 (As of Mar. 2026) — 53% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

XKLS:0160 Hiap Huat Holdings Bhd XKLS:0160
30 GF Score
Price RM0.11
GF Value RM0.26
Valuation Possible Value Trap
! 7 Warning Signs
View Full Analysis

What is Hiap Huat Holdings Bhd Graham Number?

Hiap Huat Holdings Bhd XKLS:0160 30 Graham Number is RM0.25 as of Mar. 2026, which is 100% below its 10-year median of 0.53. GuruFocus rates XKLS:0160 with a GF Score™ of 30/100 and a GF Value™ of RM0.26 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 611 Oil & Gas companies, Hiap Huat Holdings Bhd ranks better than 89.85% on this metric.

Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.

As of today (2026-08-03), the stock price of Hiap Huat Holdings Bhd is RM0.105. Hiap Huat Holdings Bhd's graham number for the quarter that ended in Mar. 2026 was RM0.25. Therefore, Hiap Huat Holdings Bhd's Price to Graham Number ratio for today is 0.42.

The historical rank and industry rank for Hiap Huat Holdings Bhd's Graham Number or its related term are showing as below:

XKLS:0160' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.38   Med: 0.53   Max: 0.95
Current: 0.42

During the past 13 years, the highest Price to Graham Number ratio of Hiap Huat Holdings Bhd was 0.95. The lowest was 0.38. And the median was 0.53.

XKLS:0160's Price-to-Graham-Number is ranked better than
89.85% of 611 companies
in the Oil & Gas industry
Industry Median: 1.1 vs XKLS:0160: 0.42

Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.


Hiap Huat Holdings Bhd  (XKLS:0160) Graham Number Explanation

Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:

Current price should not be more than 15 times average earnings of the past three years.

Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)

Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.

In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.

Hiap Huat Holdings Bhd's Price to Graham number Ratio for today is calculated as

Price to Graham number=Share Price (Today)/Graham number (Q: Mar. 2026 )
=0.105/0.25
=0.42

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Be Aware

Please keep these in mind:

1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.


Hiap Huat Holdings Bhd Graham Number Related Terms


Hiap Huat Holdings Bhd Graham Number Historical Data

* Premium members only.

The historical data trend for Hiap Huat Holdings Bhd's Graham Number can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Hiap Huat Holdings Bhd Graham Number Chart

Hiap Huat Holdings Bhd Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Graham Number
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.21 0.32 0.32 0.24 0.27

Hiap Huat Holdings Bhd Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Graham Number Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.26 0.27 0.33 0.26 0.25

XKLS:0160 vs MPC, VLO, PSX: Graham Number Comparison

For the Oil & Gas Refining & Marketing subindustry, Hiap Huat Holdings Bhd's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Hiap Huat Holdings Bhd Price-to-Graham-Number vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Hiap Huat Holdings Bhd's Price-to-Graham-Number distribution charts can be found below:

* The bar in red indicates where Hiap Huat Holdings Bhd's Price-to-Graham-Number falls into.


XKLS:0160
30GF Score
Hiap Huat Holdings Bhd XKLS:0160
Graham Number is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Hiap Huat Holdings Bhd Graham Number Calculation

Graham Number is a concept based on Ben Graham's conservative valuation of companies.

Hiap Huat Holdings Bhd's Graham Number for the fiscal year that ended in Dec. 2025 is calculated as

Graham Number
=sqrt of (22.5* Tangible Book per Share *EPS without NRI)
=sqrt of (22.5*0.274*0.012)
=0.27

Hiap Huat Holdings Bhd's Graham Number for the quarter that ended in Mar. 2026 is calculated as

Graham Number
=sqrt of (22.5*Tangible Book per Share*EPS without NRI (TTM))
=sqrt of (22.5*0.274*0.01)
=0.25

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Graham Number →
What does a Graham Number of RM0.25 mean?
Hiap Huat Holdings Bhd (XKLS:0160) has a Graham Number of RM0.25 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Hiap Huat Holdings Bhd and its competitors. This is 53% below median its historical median of 0.53. Over the past decade, Hiap Huat Holdings Bhd's Graham Number has ranged from 0.38 to 0.95. According to the industry distribution chart, Hiap Huat Holdings Bhd ranks #62 out of 611 companies in the Oil & Gas industry, placing it in the top 10.1%.
Is Hiap Huat Holdings Bhd's Graham Number too high?
Hiap Huat Holdings Bhd's current Graham Number of RM0.25 is 53% below median its 10-year median of 0.53. Over the past 10 years, this metric has ranged from a low of 0.38 to a high of 0.95. Based on the distribution chart, Hiap Huat Holdings Bhd ranks #62 out of 611 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Hiap Huat Holdings Bhd has a GF Score™ of 30/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Hiap Huat Holdings Bhd's Graham Number compare to MPC and VLO?
According to the Oil & Gas industry distribution chart, Hiap Huat Holdings Bhd ranks #62 out of 611 companies for Graham Number. This places Hiap Huat Holdings Bhd in the top 10% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.10. Historically, Hiap Huat Holdings Bhd's own Graham Number has ranged from 0.38 to 0.95 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for an Oil & Gas company?
The median Graham Number among Oil & Gas companies is 1.10, based on 611 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Hiap Huat Holdings Bhd and its competitors. For the Oil & Gas industry, the median Graham Number is 1.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hiap Huat Holdings Bhd's current Graham Number is RM0.25, which is 53% below median its own 10-year median of 0.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hiap Huat Holdings Bhd stock overvalued right now?
Based on GuruFocus' analysis, Hiap Huat Holdings Bhd (XKLS:0160) is currently considered Possible Value Trap. The stock's GF Value™ is RM0.26, compared to a current price of RM0.11 — trading 59.6% below its estimated fair value. The current Graham Number is RM0.25, which is 53% below median its 10-year median of 0.53. Hiap Huat Holdings Bhd's overall GF Score™ is 30/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Hiap Huat Holdings Bhd (XKLS:0160), the current Graham Number is RM0.25 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Hiap Huat Holdings Bhd (XKLS:0160) Overvalued in 2026?

Based on GuruFocus' analysis, Hiap Huat Holdings Bhd stock appears to be undervalued. The current stock price of RM0.11 is trading 59.6% below its estimated GF Value™ of RM0.26. GuruFocus considers Hiap Huat Holdings Bhd to be Possible Value Trap.

Key valuation signals for XKLS:0160:

  • Graham Number: RM0.25 (53% below median its 10-year median of 0.53)
  • GF Value™: RM0.26 vs. price of RM0.11 (59.6% below fair value)
  • GF Score™: 30/100 with 7 warning signs

No single metric tells the full story. See the XKLS:0160 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Hiap Huat Holdings Bhd Business Description

Industry EnergyOil & Gas
Address Jalan Sungai Pinang 5/3, Lot 102521, Fasa 2, Kawasan Perindustrian Pulau Indah, Pulau Indah, SGR, MYS, 42920
Hiap Huat Holdings Bhd, through its subsidiaries, is engaged in manufacturing, recycling, and refining petroleum-based products. The company is involved in various industries, such as scheduled waste management, oil and gas, petrochemicals, and laboratory services. The company has one operating segment that comprises mainly the manufacturing, recycling, and refining of all kinds of petroleum-based products. Geographically, it derives maximum revenue from Singapore and also generates revenue from Vietnam, Italy, Finland, and Singapore. Its products include Fuel Oil, Base Oil, Petrochemicals, Lubricants, Grease, Paint, Refined Used Cooking Oil, Refined POME Oil, Refined Palm Acid Oil, and Container.
30GF Score

Get the complete analysis for XKLS:0160

Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

RM0.11
Price
RM0.26
GF Value