How Divvy Scores a Bursa Malaysia Stock
· 6 min
Data as of 29 October 2026. Scores quoted are from the 4 June 2026 scoring run — see the last section for why the app can differ.
Most screeners give you a number and move on. This post opens it up, walks through three real scores factor by factor, and is explicit about when the score misleads. The reference version lives on the methodology page.
The Score in One Paragraph
The Divvy score is a composite between 0 and 100, built only from figures a company has already published: quarterly statements, the last traded price, and declared dividends from the same pipeline run. No forecasts, no analyst estimates.
Each stock is graded against a business-model template — 15 distinct templates across 22 industry labels in the current file. Within a template, each factor becomes a 0–100 raw reading, is multiplied by its weight, and the pieces are summed; a macro adjustment, usually under five points, is added on top.
The Templates, and Why They Differ
Scoring a bank on gross margin is meaningless, so the factor sets diverge.
Banks use seven factors summing to 1.00: nim 0.20, loan_growth_yoy 0.18, casa_ratio 0.15, npl_ratio 0.15, car 0.12, cost_income 0.08, dividend_yield 0.12.
REITs use six: dividend_yield 0.25, occupancy 0.20, npi_yield 0.18, gearing 0.15, wale 0.12, property_diversity 0.10.
Industrial and consumer names blend dividend_yield (0.20–0.24), roe, de_ratio (0.13–0.16), revenue_growth_yoy, pe_ratio and gross_margin. Plantations swap in ffb_yield and replanting_pct; contractors use order_book and utilization. Across the file, dividend_yield appears in 26 of 28 scored stocks, de_ratio in 21, revenue_growth_yoy in 19, roe in 17.
Three Real Scores, Walked Through
MBM Resources (5983) — composite 63.9
| Factor | Value | Raw (0–100) | Weighted |
|---|---|---|---|
dividend_yield |
16.57% | 100.0 | 22.0 |
pe_ratio |
5.96 | 90.1 | 13.5 |
de_ratio |
0.01 | 99.8 | 13.0 |
roe |
2.6% | 58.0 | 11.6 |
model_cycle |
7.0 | 7.0 | 0.8 |
revenue_growth_yoy |
−5.33% | 0.0 | 0.0 |
| Weighted total | 60.9 | ||
| Macro adjustment | +3.0 | ||
| Composite | 63.9 |
MBM is our highest yielder, and the breakdown shows both sides: the 16.57% yield maxes the raw scale for 22 of the 60.9 weighted points, a near-debt-free balance sheet adds 13.0, a P/E of 5.96 adds 13.5 — but revenue fell 5.33% and scores zero, and ROE of 2.6% reaches only 58.
Malayan Banking (1155) — composite 70.8
Maybank's seven factors: car 18.2% reads 95.5 raw for 11.5 weighted, npl_ratio 1.35% reads 89.8 for 13.5, casa_ratio 32.5% reads 82.5 for 12.4, cost_income 45.2% reads 64.4 for 5.2, dividend_yield 6.2% reads 62.0 for 7.4, nim 2.15% reads 51.2 for 10.2 and loan_growth_yoy 4.8% reads 48.0 for 8.6. That is 68.8 weighted, plus a 2.0 macro adjustment, for 70.8.
Read the shape: the two heaviest weights — margin and loan growth — are the weakest inputs. Balance-sheet strength carries this score, not growth.
Axis REIT (5106) — composite 66.1
| Factor | Value | Raw (0–100) | Weighted |
|---|---|---|---|
occupancy |
91.0% | 80.4 | 16.1 |
dividend_yield |
5.13% | 47.0 | 11.7 |
npi_yield |
5.2% | 63.0 | 11.3 |
wale |
4.5 yrs | 82.5 | 9.9 |
gearing |
38.0 | 53.0 | 8.0 |
property_diversity |
3 | 75.0 | 7.5 |
| Weighted total | 64.5 | ||
| Macro adjustment | +1.6 | ||
| Composite | 66.1 |
Operationally solid, unspectacular on income: 91% occupancy and 4.5 years of lease expiry are good, a 5.13% yield is mid-pack, gearing of 38.0 reads 53. KIP REIT (5280) scores the same 66.1 from the opposite mix — an 8.14% yield reading 80.5, offset by gearing of 42.0 and a single-property-heavy portfolio. Same score, different business — which is why the breakdown matters more than the headline.
What a Score Does and Does Not Tell You
It tells you where a company sits on the factors that matter for its model: a bank with 18.2% capital and 1.35% impaired loans is conservatively run; a company whose revenue fell 5.33% is not growing.
It does not tell you whether the price is fair, whether to buy, or what happens next. It is not a price target, a recommendation or a forecast. A 70 means "strong on this template's factors at the last data date"; a 20 may mean a cyclical trough, or two missing factors.
Three traps:
- Missing factors score zero, not neutral. 66 factor values in the scoring file are null because the field was not reported; each contributes 0.0, so a data-sparse company is punished twice.
- Scores are not comparable across templates. A 70 for a REIT and a 70 for a bank each mean "strong within its own model".
- Nothing is sector-normalised. A structurally low-margin industry is not flattered for it.
Why the Number in the App Can Differ
These scores come from the run dated 4 June 2026; the live snapshot is dated 29 October 2026 and its composites were recomputed since — MBM shows 78 in the app today against 63.9 here. That is why every page carries a dataset date, and why we quote the run a figure came from.
For the full factor list and coverage limits, read the methodology. To see a breakdown end to end, open KIP REIT against the rest of the REIT sector.
This article is not investment advice. Scores are derived from published figures, can be stale or incomplete, and are not recommendations to buy or sell any security. See our full disclaimer.