09-12-2023, 07:38 AM
From a ROE perspective, except for 2023, Barakah ROE was lower than those for my 2 reference Bursa energy services companies – Dayang and Deleum.
The only except was for 2023 where Barakah posted a 40% ROE. This seemed like a turnaround after the negative ROE of 177 % in 2022.
![[Image: Barakah.png]](https://i.postimg.cc/FzgHw3Jz/Barakah.png)
But when I dug deeper, this positive 40% was because it had an after-tax loss of RM 4 million divided by a negative equity. It was a positive 40% due to arithmetic.
Moral of story – when numbers look funny, you better dig deeper
The only except was for 2023 where Barakah posted a 40% ROE. This seemed like a turnaround after the negative ROE of 177 % in 2022.
But when I dug deeper, this positive 40% was because it had an after-tax loss of RM 4 million divided by a negative equity. It was a positive 40% due to arithmetic.
Moral of story – when numbers look funny, you better dig deeper