Our website is made possible by displaying non-intrusive online advertisements to our visitors.
Please consider supporting us by disabling or pausing your ad blocker.
FOCUSP (FOCUS POINT HOLDINGS) — MBOW Public Output v3.4-p1
Current Price: 0.490
1. Core Conclusion
当前属于弱反弹中的震荡结构（未转强）。
没有形成趋势，只是下跌后的技术性修复。
2. Structure Analysis
月线：高位见顶 → 长期下行结构未结束
周线：反弹中，但仍在下降趋势内
日线：横盘震荡（弱平衡）
4H：反弹后进入停滞区
结论：
整体仍是下行结构中的反弹段
3. Multi-Timeframe Resonance (Daily + 4H)
Daily MACD：刚翻正但力度弱
4H MACD：上行但开始钝化
OBV：持续走低（资金未回流）
Ichimoku：价格仍被云层压制
共振结论：
动能不一致，反弹质量偏弱
4. Key Price Levels
Immediate Resistance: 0.500 – 0.510
Major Resistance: 0.550
Immediate Support: 0.480
Breakdown Level: 0.465
关键点说明：
0.50 是结构分水岭，突破才算真正转强
5. Path Scenarios (A/B/C)
Path A（弱突破尝试）
概率：30%
0.49 → 0.51 → 0.55
Path B（持续震荡）
概率：45%
0.48 – 0.50 区间横盘
Path C（反弹失败）
概率：25%
跌破0.48 → 回测0.465
6. Final Verdict
Current Structure State:
下行结构中的反弹震荡阶段
Structure Rating: C
This analysis is based on current structure and momentum conditions, not a prediction of future price.
English Summary
FOCUSP remains in a broader downtrend, with the current move classified as a weak rebound rather than a confirmed reversal. Price is still capped below key resistance at 0.50. Without a breakout, the structure favors consolidation or downside continuation.
With all the recent talk about REIT dividend withholding tax, I think more investors will start looking beyond the usual REIT names for dividend ideas.
For me, Focus Point is one of the names that stands out.
What makes it interesting is that this is not just a dividend story. The business itself is still growing. In FY25, Focus Point delivered record revenue of RM311.4 million and PAT of RM35.0 million, while 4QFY25 was its strongest quarter yet with revenue of RM91.2 million and PAT of RM12.4 million. The group also recorded five consecutive years of revenue growth, and management has now moved to an at least 50% dividend payout policy with quarterly payouts. Past twelve months they have declared a total of 3.563 sen per share. Since their listing, paid a total RM87.2 million of dividends. Market cap also grew by 407.3% over the years, with 15.6 years CAGR of 11.0%.
So when I look at it, this feels like more than just a “high yield” name. You are also looking at a company with improving earnings, a strong core optical business, and a clearer dividend commitment now. With dividend yield at around 7.4%, I think it deserves more attention, especially for investors who are rethinking their dividend portfolio after the REIT tax issue.
Not saying it is a REIT replacement, but as an alternative dividend stock in Bursa, I do think Focus Point looks increasingly attractive.
FOCUS POINT HOLDINGS BERHAD ACHIEVES ANOTHER RECORD IN REVENUE AND PROFITABILITY, DECLARES THIRD INTERIM DIVIDEND AND COMMITS TO A 50% DIVIDEND PAYOUT POLICY
• Focus Point achieved its highest ever quarterly revenue of RM91.2 million and a record quarterly profit after tax of RM12.4 million in 4QFY25.
• The Group posted record-breaking yearly revenue of RM311.4 million which represents a 6.4% year-on-year increase and marks five consecutive years of revenue growth.
• The Optical segment reached another all-time high with annual revenue of RM263.2 million and a record profit before tax of RM53.1 million.
• The Board has declared a third interim dividend of 0.75 sen per share, bringing the total cumulative dividend for FY25 to 3.56 sen per share.
• The Board implements an at least 50% dividend payout policy that will be paid out quarterly.
Petaling Jaya, Thursday, 26th February 2026 – Focus Point Holdings Berhad (“Focus Point” or “the Group”) is pleased to announce its financial results for the fourth quarter ended 31 December 2025 (“4QFY25”) and for the full financial year ended 31 December 2025 (“FY25”), which reflect the Group’s continued growth momentum and disciplined execution across its core businesses.
For FY25, the Group achieved a record-high revenue of RM311.4 million, representing a 6.4% increase from RM292.5 million in FY24. Profit before tax (“PBT”) rose 11.5% to RM48.8 million from RM43.7 million previously, while profit after tax (“PAT”) improved 5.5% to RM35.0 million from RM33.2 million. Earnings per share increased to 5.7 sen from 5.4 sen.
4QFY25 registered the strongest quarterly revenue to date at RM91.2 million, representing a 22.4% increase quarter-on-quarter. Quarterly PBT also rose 89.7% to RM17.4 million from RM9.2 million, while PAT increased 96.2% to RM12.4 million from RM6.3 million, underpinned by the Optical segment’s strong performance during the quarter.
On a year-on-year basis, quarterly revenue, PBT and PAT grew 9.2%, 48.5% and 34.1% respectively, mainly driven by the strong performance in the Optical segment.
The Optical segment achieved another record year, with revenue rising 7.9% to RM263.2 million from RM243.9 million in FY24. PBT increased 22.8% to RM53.1 million from RM43.2 million. The strong performance was driven by resilient consumer demand, continued network expansion and improved operational efficiency. During the year, the Group strengthened its nationwide presence with the opening of its optical outlet in Kangar Jaya Mall, achieving a presence in every state across Malaysia. Moving forward, the Group will continue strengthening its Optical business through outlet expansion in strategic locations, investment in advanced primary eye care equipment, and enhanced community outreach initiatives.
The Food and Beverage (“F&B”) segment recorded revenue of RM44.2 million, remaining stable year-on-year. The segment registered a loss before tax of RM3.1 million, mainly due to higher operating costs and write-downs. The Group continues to focus on cost optimisation, operational efficiency improvements and expanding product offerings to both retail and corporate customers as part of its turnaround initiatives to improve performance and return the segment to profitability over time.
Meanwhile, the Board has declared a third single-tier interim dividend of 0.75 sen per share for FY25, bringing the total cumulative dividend declared for FY25 to 3.56 sen per share, compared to 2.63 sen in FY24. In line with this commitment towards enhancing shareholders’ value, the Board has formalised an enhanced dividend policy under which the Group intends to distribute at least 50% of its annual profit after tax as dividends. Dividends will be paid on a quarterly basis moving forward, providing greater consistency and visibility in shareholder returns.
“FY25 has been a meaningful year for Focus Point. Our record revenue and improved profitability reflect the steady strength of our business and our commitment towards vision care in the community. We are also pleased to introduce our enhanced dividend policy, where we aim to distribute at least 50% of our annual profit after tax through quarterly dividends, reflecting our commitment to delivering consistent returns and sharing our progress with shareholders. While we are encouraged by our performance, we will continue to stay disciplined in our execution, expand carefully and focus on delivering sustainable long-term value,” said Dato’ Liaw Choon Liang, President/Chief Executive Officer of Focus Point.
Would Focus Point's F&B venture be a value creation or value destruction?
Focus Point Holdings Bhd. consists of two (2) business segments:
1. Spectacle/Eyewear
2. F&B, Komugi brand
Its eyewear business is doing good and a cash flow generator. Whereas its F&B segment still made the accumulated losses of RM30.39 million according to the below extracted CTOS LitE Report since year 2012/13.
Optical is clearly the Group’s main value creator for now, and the numbers already prove that through its record revenue and earnings in recent quarters.
As for F&B, the retail side is actually holding up reasonably well. The bigger drag has mainly come from the B2B side, which is a different model and naturally takes longer to scale.
Accumulated losses in F&B are also not unusual when a business is still expanding. That is quite normal for this type of segment, where upfront investment comes first and earnings only improve once scale kicks in.
So to label it as outright value destruction is too simplistic. A fairer assessment is that optical is carrying the Group today, while F&B adds diversification and longer-term upside. Once the B2B side improves, the earnings contribution from F&B should look very different.
How did Focus Point CEO, Dato' Liaw Choon Liang drive the core-ROIC from 4.74% to 26.70% since IPO 2010 to the year 2024? And maintained the double-digit ROIC from the past 6 years? Its capital structure had been improved from the highest debt-to-equity ratio of 1.06x (FY15) reduced to 0.26x (FY24).
KUALA LUMPUR: The consumer products sector will continue to provide a defensive shelter by offering earnings visibility amid the volatile market conditions.
RHB Research said that this will be supported by the domestic-centric earnings bases and resilient consumption.
"Fundamentally, the rising prominence of the Sumbangan Asas Rahmah initiative as a fiscal support tool should direct more spending to the sector, whilst the inclusive petrol subsidy rationalisation approach has removed a major overhang and cooled down inflationary risks," it said in a note.
Other sector catalysts include the stronger ringgit, wage growth and the Visit Malaysia Year 2026 campaign.
RHB Research said the main beneficiaries of the government's fiscal policy will continue to be favoured by investors, including 99 Speed Mart Retail Holdings Bhd and Nestle (Malaysia) Bhd.
"Meanwhile, Farm Fresh Bhd's robust growth momentum and expansion headroom in regional markets should keep investors excited.
"Other than that, we highlight that a few quality consumer retail players – Eco-Shop Marketing, Mr DIY Group (M) Bhd, AEON Co (M) and Focus Point Holdings Bhd – are trading at more reasonable or undemanding valuations.
"This is compelling, as we believe discretionary spending could pick up in tandem with the improving consumer sentiment ahead," it said.
The firm expects to see a sequential pick-up in sales in the fourth quarter of 2025, while earnings should be driven by favourable year-end seasonal factors.
RHB Research maintained its "Overweight" call on the sector.
