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1. Company Snapshot

1.a. Company Description

Multi Ways Holdings Limited supplies a range of heavy construction equipment for sales and rental in Singapore, Australia, and internationally.The company engages in the supplying and rental of new and used heavy construction equipment in the infrastructure, building construction, mining, offshore and marine, and oil and gas industries.It offers earth-moving equipment, such as bulldozers, off-terrain dump trucks, excavators, and wheel loaders; material-handling equipment such as crawler cranes, rough terrain cranes, scissor lifts, forklifts, boom-lifts, and telescopic handlers; road-building equipment comprising motor graders, vibrating compactors, asphalt finishers, skid loaders, backhoe loaders, hand rollers, and mini excavators; and air compressors, generators, lighting towers, and welding machines.


The company was founded in 1988 and is headquartered in Singapore.Multi Ways Holdings Limited operates as a subsidiary of MWE Investments Limited.

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1.b. Last Insights on MWG

Multi Ways Holdings' recent performance was driven by a $1.485 million registered direct offering, announced on September 12, 2025. The offering includes 9,000,000 ordinary shares and warrants to purchase up to 9,000,000 shares. This capital raise may enhance the company's financial flexibility. As a leading supplier of heavy construction equipment in Singapore and surrounding regions, the company is well-positioned to capitalize on growth opportunities. The offering is expected to support business expansion and operations.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Multi Ways Holdings Announces $5.4 Million Purchase of 21 SANY Cranes

Oct -27

Source: globenewswire.com

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SPARTAN CAPITAL SECURITIES, LLC SERVES AS EXCLUSIVE PLACEMENT AGENT FOR MULTI WAYS HOLDINGS' $1.485 MILLION SECOND TRANCHE, BRINGING TOTAL REGISTERED DIRECT OFFERING TO $2.97 MILLION

Oct -06

Source: globenewswire.com

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Multi Ways Holdings Announces Closing of Second Tranche of $1.485 Million Registered Direct Offering

Sep -26

Source: globenewswire.com

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Spartan Capital Securities Serves as Exclusive Placement Agent for Multi Ways Holdings' $1.485 Million Registered Direct Offering

Sep -18

Source: globenewswire.com

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Multi Ways Holdings Announces Pricing of $1.485 Million Registered Direct Offering

Sep -12

Source: globenewswire.com

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Multi Ways Holdings Files Annual Report on Form 20-F for Fiscal Year 2024

Jun -13

Source: globenewswire.com

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Multi Ways Holdings Reports Financial Results for Fiscal Year 2024

May -27

Source: globenewswire.com

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Multi Ways Holdings Receives Notification of Deficiency from NYSE Related to Delayed Filing of Annual Report on Form 20-F

May -23

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.76%)

6. Segments

Equipment

Expected Growth: 4.8%

Growing demand for automation in manufacturing, increasing adoption of Industry 4.0 technologies, and rising need for efficient production processes drive the growth of equipment from 35137, with a forecast CAGR of 4.8% from 2023 to 2028.

Services

Expected Growth: 4.8%

Growing demand for high-speed internet and data services, increasing adoption of IoT devices, and rising need for reliable communication networks drive the growth of telecommunications services.

Rental

Expected Growth: 4.5%

The 35137 zip code in Nashville, Tennessee, is expected to experience steady growth in the rental market driven by its proximity to downtown, a thriving job market, and a growing population of young professionals and families seeking affordable housing options.

7. Detailed Products

Cloud Infrastructure

35137's Cloud Infrastructure provides scalable and secure computing resources, enabling businesses to deploy and manage applications efficiently.

Cybersecurity Solutions

35137's Cybersecurity Solutions offer advanced threat detection and protection, ensuring the integrity of business data and systems.

Data Analytics Platform

35137's Data Analytics Platform provides real-time insights and visualization tools, empowering businesses to make data-driven decisions.

Digital Transformation Services

35137's Digital Transformation Services help businesses navigate digital change, from strategy to implementation.

IT Consulting Services

35137's IT Consulting Services provide expert guidance on IT strategy, implementation, and management.

8. 35137's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for 35137 is moderate due to the availability of alternative products in the market.

Bargaining Power Of Customers

The bargaining power of customers for 35137 is high due to the presence of a large number of customers and the availability of alternative products.

Bargaining Power Of Suppliers

The bargaining power of suppliers for 35137 is low due to the presence of multiple suppliers and the company's ability to negotiate prices.

Threat Of New Entrants

The threat of new entrants for 35137 is moderate due to the presence of barriers to entry and the company's established brand reputation.

Intensity Of Rivalry

The intensity of rivalry for 35137 is high due to the presence of several competitors in the market and the company's need to differentiate itself.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 28.03%
Debt Cost 11.07%
Equity Weight 71.97%
Equity Cost 16.00%
WACC 14.62%
Leverage 38.95%

11. Quality Control: 35137 passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Andrews Sykes

A-Score: 5.9/10

Value: 5.1

Growth: 2.4

Quality: 8.2

Yield: 8.1

Momentum: 4.0

Volatility: 7.3

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H&E Equipment Services

A-Score: 5.4/10

Value: 3.3

Growth: 6.2

Quality: 5.8

Yield: 3.0

Momentum: 9.5

Volatility: 4.3

1-Year Total Return ->

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Stellantis

A-Score: 4.8/10

Value: 9.1

Growth: 3.1

Quality: 5.5

Yield: 0.0

Momentum: 7.5

Volatility: 3.3

1-Year Total Return ->

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Willis Lease Finance

A-Score: 4.6/10

Value: 7.8

Growth: 7.6

Quality: 5.0

Yield: 1.0

Momentum: 2.0

Volatility: 4.3

1-Year Total Return ->

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VCI Global

A-Score: 4.5/10

Value: 10.0

Growth: 7.2

Quality: 8.4

Yield: 0.0

Momentum: 1.0

Volatility: 0.3

1-Year Total Return ->

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Caravelle

A-Score: 3.6/10

Value: 7.6

Growth: 2.3

Quality: 4.2

Yield: 0.0

Momentum: 6.0

Volatility: 1.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

0.25$

Current Price

0.25$

Potential

-0.00%

Expected Cash-Flows