DailySpaceBursa Malaysia companies, read from their annual reports从年报读懂大马上市公司

NetX Holdings Berhad

0020 · ACE Market创业板(ACE Market) · annual reports 2023 to 2025, 435 entries read2023 至 2025 年报,共读出 435 条

Revenue, 20252025 年营业额RM8.90m890万令吉down 27.9% from比 2024 年减少 27.9%,当年为 RM12.3m1.23千万令吉 in 2024
Loss for the financial year, 20252025 年年度亏损–RM18.4m–1.84千万令吉down 38.3% from比 2024 年减少 38.3%,当年为 –RM29.8m–2.98千万令吉 in 2024
Cash and bank balances, 20252025 年现金与银行结余RM47.8m4.78千万令吉down 13.9% from比 2024 年减少 13.9%,当年为 RM55.5m5.55千万令吉 in 2024
Total assets, 20252025 年总资产RM102.4m1.02亿令吉down 21.3% from比 2024 年减少 21.3%,当年为 RM130.1m1.30亿令吉 in 2024

The company这家公司

NetX operates in non-payment and IT network services, money lending through 60%-owned subsidiary eMicro, money services through a currency exchange outlet, mobile applications such as GemSpot, and property investment.NetX 经营非支付与 IT 网络服务、通过持股 60% 的子公司 eMicro 提供放贷服务、通过货币兑换店提供货币兑换服务、开发诸如 GemSpot 等手机应用,以及进行产业投资。

Source: annual report 2025, pages 10, 12.出处:2025 年年报第 10、12 页。

In 2024 the group added digital out-of-home advertising through GEM Live, and exited the florist, food and beverage, and fast food businesses under a repositioning strategy.2024 年,集团通过 GEM Live 拓展了户外数字广告业务,并在重新定位策略下退出了花艺、餐饮及快餐业务。

Source: annual report 2024, page 6; annual report 2025, pages 7, 10.出处:2024 年年报第 6 页;2025 年年报第 7、10 页。

In 2025, Malaysia accounted for all external revenue of RM8,900,404, compared with RM10,780,779 in 2024, when Hong Kong contributed RM1,566,404. Sales of software and hardware contributed RM3,124,605, interest income RM2,699,977, rental income RM1,316,067, solutions and services RM607,953, advertising display contracts RM566,931, and foreign currency trading RM417,066.2025 年,马来西亚占全部外部营业额 RM8,900,404,而 2024 年为 RM10,780,779,当时香港贡献了 RM1,566,404。按业务分,软硬件销售贡献 RM3,124,605,利息收入 RM2,699,977,租金收入 RM1,316,067,解决方案与服务 RM607,953,广告展示合约 RM566,931,外币交易 RM417,066。

Source: annual report 2024, page 119; annual report 2025, pages 114, 126.出处:2024 年年报第 119 页;2025 年年报第 114、126 页。

The group owns a 4 storey corner terraced shop office in Kota Damansara, 6 retail units in Sungei Wang Plaza, and 1 retail unit at Solaris Dutamas. Rental income recognised from investment properties was RM870,801 in 2023, RM1,129,593 in 2024, and RM1,691,722 in 2025.集团在 Kota Damansara 拥有一栋 4 层转角排式店铺办公室、在金河广场拥有 6 间零售单位,以及在 Solaris Dutamas 拥有 1 间零售单位。投资产业确认的租金收入在 2023 年为 RM870,801,2024 年为 RM1,129,593,2025 年为 RM1,691,722。

Source: annual report 2023, page 94; annual report 2024, page 96; annual report 2025, pages 11, 96.出处:2023 年年报第 94 页;2024 年年报第 96 页;2025 年年报第 11、96 页。

Fintec Global Limited holds 193,990,000 shares (20.68%) directly, and Fintec Global Berhad holds the same shares indirectly. Director Tan Sik Eek holds 40,000,000 shares (4.27%) and is managing director and 0.01% shareholder of Fintec Global Berhad. Morgan Stanley held 51,606,475 shares (5.50%) in 2023, 62,606,475 shares (6.68%) in 2024, and 131,736,375 shares (14.05%) in 2025 through an exempt nominee account. A pledged securities account for Chok Pui Woon held 2,113,400 shares (0.23%) in 2023 and 2,093,400 shares (0.22%) in 2025.Fintec Global Limited 直接持有 193,990,000 股(20.68%),Fintec Global Berhad 间接持有同一批股份。董事 Tan Sik Eek 持有 40,000,000 股(4.27%),并担任 Fintec Global Berhad 的董事经理且持股 0.01%。Morgan Stanley 在 2023 年持有 51,606,475 股(5.50%),2024 年持有 62,606,475 股(6.68%),2025 年通过豁免代名人账户持有 131,736,375 股(14.05%)。Chok Pui Woon 的质押证券账户在 2023 年持有 2,113,400 股(0.23%),在 2025 年持有 2,093,400 股(0.22%)。

Source: annual report 2023, pages 130, 131; annual report 2024, page 132; annual report 2025, pages 51, 140, 141.出处:2023 年年报第 130、131 页;2024 年年报第 132 页;2025 年年报第 51、140、141 页。

Directors hold board seats in other listed companies, including Fintec Global Berhad, Mlabs Systems Berhad, Symphony Life Berhad, and Nova Technology Services Berhad. CAS Consulting Services Sdn. Bhd. was appointed internal auditors on 20 March 2023 in place of Wensen Consulting (Asia) Sdn. Bhd., and each report states that internal control weaknesses were identified during the year.多名董事在其他上市公司任职,包括 Fintec Global Berhad、Mlabs Systems Berhad、Symphony Life Berhad 及 Nova Technology Services Berhad。CAS Consulting Services Sdn. Bhd. 于 2023 年 3 月 20 日取代 Wensen Consulting (Asia) Sdn. Bhd. 成为内部审计师,各年年报均披露当年发现了内部控制缺陷。

Source: annual report 2023, pages 22, 29, 47; annual report 2024, page 47; annual report 2025, pages 23, 24, 47.出处:2023 年年报第 22、29、47 页;2024 年年报第 47 页;2025 年年报第 23、24、47 页。

Revenue by destination, 20242024 年按地区划分的营业额

Malaysia: 87.3%Hong Kong: 12.7%
Malaysia 87.3%马来西亚 87.3%Hong Kong 12.7%香港 12.7%

Source: annual report 2024, page 119.出处:2024 年年报第 119 页。

Major events大事记

2020A rights issue with warrants was completed on 3 November 2020, raising RM81,397,787 through the issuance of 626,136,825 rights shares and 313,068,412 Warrants C.附加股配售及凭单于 2020 年 11 月 3 日完成,通过发行 626,136,825 股附加股及 313,068,412 张凭单 C 筹集 RM81,397,787。

Source: annual report 2023, page 49.出处:2023 年年报第 49 页。

2022Bank Negara Malaysia approved the operation of a physical money changer outlet in Sungei Wang Plaza at the end of 2022.马来西亚国家银行于 2022 年底批准在金河广场经营实体货币兑换店。

Source: annual report 2023, page 14.出处:2023 年年报第 14 页。

2023CAS Consulting Services Sdn. Bhd. was appointed internal auditors on 20 March 2023.CAS Consulting Services Sdn. Bhd. 于 2023 年 3 月 20 日获委任为内部审计师。

Source: annual report 2023, page 29.出处:2023 年年报第 29 页。

2023A private placement of 83,596,700 shares was completed on 8 June 2023, raising RM3,761,852.2023 年 6 月 8 日完成 83,596,700 股私募配售,筹得 RM3,761,852。

Source: annual report 2023, page 50.出处:2023 年年报第 50 页。

2023NetX entered into a joint venture on 3 October 2023 taking a 51% stake in Saudi Burger Holdings to enter the fast food business.NetX 于 2023 年 10 月 3 日成立合资公司,持有 Saudi Burger Holdings 51% 股权进军快餐业务。

Source: annual report 2023, page 12.出处:2023 年年报第 12 页。

2024GEM exited the florist and food and beverage businesses in July 2024.GEM 于 2024 年 7 月退出花艺及餐饮业务。

Source: annual report 2024, page 11; annual report 2025, page 10.出处:2024 年年报第 11 页;2025 年年报第 10 页。

2024A total of 468,976,292 Warrants D were issued on 22 July 2024 on the basis of 1 warrant for every 2 existing ordinary shares.2024 年 7 月 22 日以每 2 股现有普通股配 1 张凭单的基准发行了 468,976,292 张凭单 D。

Source: annual report 2024, page 107.出处:2024 年年报第 107 页。

2024Bank Negara Malaysia granted approval in December 2024 for the operation of the EFX platform.马来西亚国家银行于 2024 年 12 月批准营运 EFX 平台。

Source: annual report 2024, page 14; annual report 2025, page 9.出处:2024 年年报第 14 页;2025 年年报第 9 页。

2025A capital reduction of RM200,000,000 took effect after a Registrar of Companies notice dated 22 July 2025, received on 23 July 2025, reducing share capital to RM12,029,088.在 2025 年 7 月 23 日收到公司注册局 2025 年 7 月 22 日的通知后,RM200,000,000 的股本削减生效,股本降至 RM12,029,088。

Source: annual report 2025, pages 58, 62.出处:2025 年年报第 58、62 页。

2025A consent judgment was recorded on 21 November 2025 in the High Court, concluding the rental recovery litigation for Sungei Wang Plaza.2025 年 11 月 21 日在高等法院记录同意判决,金河广场租金追讨诉讼正式达成和解。

Source: annual report 2025, page 136.出处:2025 年年报第 136 页。

Revenue and operating cash营业额与营运现金

Revenue营业额
2022
RM13.7m1.37千万令吉
2023
RM16.8m1.68千万令吉
2024
RM12.3m1.23千万令吉
2025
RM8.90m890万令吉
Net cash from operating activities营运活动所得现金净额
2022
–RM5.52m–552万令吉
2023
RM1.29m129万令吉
2024
–RM3.98m–398万令吉
2025
–RM6.73m–673万令吉

Assets, liabilities and equity资产、负债与权益

Total assets总资产
2022
RM161.1m1.61亿令吉
2023
RM151.3m1.51亿令吉
2024
RM130.1m1.30亿令吉
2025
RM102.4m1.02亿令吉
Total liabilities总负债
2022
RM39.8m3.98千万令吉
2023
RM40.7m4.07千万令吉
2024
RM45.7m4.57千万令吉
2025
RM30.8m3.08千万令吉
Total equity总权益
2022
RM121.3m1.21亿令吉
2023
RM110.5m1.11亿令吉
2024
RM84.4m8.44千万令吉
2025
RM71.6m7.16千万令吉

Cash and other investments现金与其他投资

Cash and bank balances现金与银行结余
2022
RM62.9m6.29千万令吉
2023
RM65.0m6.50千万令吉
2024
RM55.5m5.55千万令吉
2025
RM47.8m4.78千万令吉
Other investments其他投资
2022
RM6.71m671万令吉
2023
RM5.21m521万令吉
2024
RM6.84m684万令吉
2025
RM5.18m518万令吉

20232023 年

In June 2023 a private placement of 83,596,700 shares raised RM3,761,852, and 18,388,604 shares were issued at RM0.13 each on exercise of Warrant C. Cash and bank balances were RM65,012,643, with USD balances of RM51,425,230 and AUD balances of RM8,251,731. Term loans stood at RM25,612,644, with interest rates from 5.31% to 6.70%. The group acquired 51% of MMSB for RM332,010, 0.69% of GEM Pay for RM6,000, and 51% of Saudi Burger Holdings for RM1,020. Impairment on trade receivables was RM1,377,711 and intangible assets impairment was RM1,079,598.2023 年 6 月通过配售 83,596,700 股筹集 RM3,761,852,并因凭单 C 行权以每股 RM0.13 发行了 18,388,604 股。现金与银行结余为 RM65,012,643,其中美元结余 RM51,425,230,澳元结余 RM8,251,731。定期贷款为 RM25,612,644,有效年利率在 5.31% 至 6.70% 之间。集团以 RM332,010 收购 MMSB 51% 股权、以 RM6,000 收购 GEM Pay 0.69% 股权、以 RM1,020 收购 Saudi Burger Holdings 51% 股权。应收账款减值 RM1,377,711,无形资产减值 RM1,079,598。

Source: annual report 2023, pages 50, 57, 62, 63, 97, 98, 103, 106, 125.出处:2023 年年报第 50、57、62、63、97、98、103、106、125 页。

20242024 年

Cash and bank balances declined to RM55,500,165, including USD balances of RM52,245,048. A subsidiary entered into an agreement to issue up to 5,000,000 redeemable preference shares at RM1.00 each carrying an 8% cumulative dividend, and total liabilities rose by RM4.97 million. Goodwill was impaired by RM4,410,516, comprising RM4,244,836 for investment holdings and RM165,680 for electronic payment services. Intangible assets were impaired by RM1,852,072 to RM Nil, and an outstanding rental receivable of RM789,289 was written off following a settlement. Secured term loans decreased to RM18,497,763.现金与银行结余降至 RM55,500,165,其中美元结余为 RM52,245,048。一家子公司签署协议以每股 RM1.00 发行最多 5,000,000 股可赎回优先股,附带 8% 累积股息,总负债增加 RM4.97 million。商誉减值 RM4,410,516,包括投资控股的 RM4,244,836 和电子支付服务的 RM165,680。无形资产减值 RM1,852,072 至 RM Nil,并在达成和解后核销了 RM789,289 的应收租金。有抵押定期贷款降至 RM18,497,763。

Source: annual report 2024, pages 8, 64, 72, 102, 103, 106, 109, 129.出处:2024 年年报第 8、64、72、102、103、106、109、129 页。

20252025 年

Issued share capital was reduced by RM200,000,000 under Section 117 of the Companies Act 2016, moving from RM212,029,088 to RM12,029,088. Cash and bank balances were RM47,793,615, of which USD balances were RM46,532,922. Repayment of term loan took RM7,372,514, while proceeds from disposal of plant and equipment brought RM2,561,707. Impairment losses on financing receivables were RM5,659,146. A RM5,000,000 loan to Pembinaan Jaya WBW Sdn Bhd, outstanding at RM5,253,561, was impaired in the year; that borrower was wound up on 11 September 2025. Other receivables impairment was RM3,213,985, and unrealised foreign exchange loss was RM9,867,628. Gain on deemed disposal of subsidiaries was RM2,700,542; in the year, holdings in Saudi Burger Holdings fell from 51% to 49% and in EFX Global from 100% to 2%.根据 2016 年公司法令第 117 条削减股本 RM200,000,000,已发行股本由 RM212,029,088 降至 RM12,029,088。现金与银行结余为 RM47,793,615,其中美元结余 RM46,532,922。偿还定期贷款支出 RM7,372,514,出售厂房与设备所得款项为 RM2,561,707。融资应收款项减值损失为 RM5,659,146。对 Pembinaan Jaya WBW Sdn Bhd 的 RM5,000,000 贷款(未偿金额 RM5,253,561)于当年减值;该借款人于 2025 年 9 月 11 日被清盘。其他应收款项减值 RM3,213,985,未实现外汇亏损 RM9,867,628。视同处置子公司收益为 RM2,700,542;当年在 Saudi Burger Holdings 的持股由 51% 降至 49%,在 EFX Global 的持股由 100% 降至 2%。

Source: annual report 2025, pages 58, 62, 65, 71, 72, 109, 116, 136, 137.出处:2025 年年报第 58、62、65、71、72、109、116、136、137 页。

Across the three years三年合看

The group paid no dividends in any year. Term loan balances declined from RM25,612,644 in 2023 to RM18,497,763 in 2024 and RM11,725,250 in 2025. Cash and bank balances were largely held in US Dollars, representing RM51,425,230 in 2023, RM52,245,048 in 2024, and RM46,532,922 in 2025. Total directors' remuneration was RM2,169,676 in 2024 and RM1,774,408 in 2025, with Tan Sik Eek receiving RM1,238,889 in 2024 and RM1,201,382 in 2025.集团在各年均未派发股息。定期贷款结余由 2023 年的 RM25,612,644 降至 2024 年的 RM18,497,763 及 2025 年的 RM11,725,250。现金与银行结余主要以美元持有,在 2023 年为 RM51,425,230,2024 年为 RM52,245,048,2025 年为 RM46,532,922。董事酬劳总额在 2024 年为 RM2,169,676,2025 年为 RM1,774,408,其中 Tan Sik Eek 在 2024 年获得 RM1,238,889,2025 年获得 RM1,201,382。

Source: annual report 2023, pages 103, 125; annual report 2024, pages 41, 106, 129; annual report 2025, pages 37, 58, 61, 109, 133.出处:2023 年年报第 103、125 页;2024 年年报第 41、106、129 页;2025 年年报第 37、58、61、109、133 页。

Still to be spent尚未支出的承诺

Unused proceeds from the 2020 rights issue stood at RM31.1 million in 2023, RM27.6 million in 2024, and RM19.9 million in 2025, with the timeframe extended to 3 November 2026. Unused proceeds from the eFX share issuance remained at RM9.2 million in 2023 and RM8.4 million in 2024 and 2025, with completion extended to 21 January 2027. Unused proceeds from the private placement for microfinancing remained at RM2.6 million, with completion extended to 8 June 2026.2020 年附加股募集资金的未动用款项在 2023 年为 RM31.1 million,2024 年为 RM27.6 million,2025 年为 RM19.9 million,动用期限展延至 2026 年 11 月 3 日。eFX 股票发行的未动用款项在 2023 年为 RM9.2 million,2024 年与 2025 年为 RM8.4 million,动用期限展延至 2027 年 1 月 21 日。用于小额信贷业务的私募配售未动用款项保持在 RM2.6 million,动用期限展延至 2026 年 6 月 8 日。

Source: annual report 2023, pages 49, 50; annual report 2024, pages 49, 50; annual report 2025, pages 49, 50.出处:2023 年年报第 49、50 页;2024 年年报第 49、50 页;2025 年年报第 49、50 页。

Four years of figures四年数字

Group figures, in RM, as printed in the statements.集团数字,单位令吉,照财务报表所印。

Group集团2022202320242025
RM令吉RM令吉RM令吉RM令吉
Revenue营业额13,653,61716,831,63012,347,1838,900,404
Loss before taxation税前亏损(16,099,096)(14,275,042)(29,557,195)(18,670,013)
Loss for the financial year年度亏损(16,093,323)(14,275,042)(29,763,366)(18,371,804)
Net cash from operating activities营运活动所得现金净额(5,517,351)1,290,584(3,984,248)(6,731,074)
Net cash from investing activities投资活动所得现金净额(10,076,728)(4,495,385)(6,273,658)1,883,926
Other investments其他投资6,714,7035,207,1246,841,7795,175,120
Cash and bank balances现金与银行结余62,888,02565,012,64355,500,16547,793,615
Total assets总资产161,089,804151,255,507130,130,630102,399,232
Total liabilities总负债39,775,37240,717,07145,687,67830,777,222
Total equity总权益121,314,432110,538,43684,442,95271,622,010

On a computer, hover over a figure for the report and page it is printed on.在电脑上把鼠标移到数字上,可看到它印在哪份年报的哪一页。

Said and done说过的与做到的

What the reports said年报说要做的What later reports show之后年报显示的Status状态
Aiming to open a money changer outlet in Sungei Wang Plaza by Q2 2024计划在 2024 年第二季度前在金河广场开设货币兑换分店The 2024 report stated the business was set to expand with the opening of the outlet; the 2025 report does not record the outlet as open.2024 年年报称该业务将随着分店开业而扩张;2025 年年报未记录该分店已开业。

Source: annual report 2023, page 14; annual report 2024, page 14.出处:2023 年年报第 14 页;2024 年年报第 14 页。

No opening reported未见开业记录
In discussion with Bank Negara Malaysia to obtain approval to launch the eFX platform in Malaysia正与马来西亚国家银行协商以获得在马来西亚推出 eFX 平台的批准Approval was obtained in December 2024, but the group adopted a measured approach and had not yet launched the platform by the 2025 report.于 2024 年 12 月获得批准,但集团采取审慎做法,截至 2025 年年报尚未推出该平台。

Source: annual report 2023, page 14; annual report 2024, page 14; annual report 2025, page 9.出处:2023 年年报第 14 页;2024 年年报第 14 页;2025 年年报第 9 页。

Approved but not yet launched已获批准但尚未推出
Venturing into fast food with Saudi Burger to become one of the top 3 fast food burger brands in Malaysia与 Saudi Burger 合作进军快餐业务,目标成为马来西亚前三大快餐汉堡品牌之一In December 2024 the equity interest was diluted from 51% to 49%, and operations in fast food, florist, and F&B were discontinued under a repositioning strategy.2024 年 12 月股权由 51% 稀释至 49%,在重新定位策略下终止了快餐、花艺和餐饮业务。

Source: annual report 2023, pages 12, 14; annual report 2024, page 130; annual report 2025, pages 7, 62.出处:2023 年年报第 12、14 页;2024 年年报第 130 页;2025 年年报第 7、62 页。

Discontinued已终止
Proposed bonus issue of up to 468,976,320 Warrants D on the basis of 1 warrant for every 2 shares建议以每 2 股配 1 张凭单的基准红利发行最多 468,976,320 张凭单 DA total of 468,976,292 Warrants D were issued on 22 July 2024 expiring on 21 July 2027.2024 年 7 月 22 日发行了共计 468,976,292 张凭单 D,将于 2027 年 7 月 21 日到期。

Source: annual report 2023, page 128; annual report 2024, page 107; annual report 2025, page 59.出处:2023 年年报第 128 页;2024 年年报第 107 页;2025 年年报第 59 页。

Carried out已执行

What the reports leave open年报留下待看的事

  • Recovery of the RM5,253,561 loan to Pembinaan Jaya WBW Sdn Bhd, which was fully impaired after the borrower was wound up, following a letter of demand issued to the guarantor on 11 March 2026.向 Pembinaan Jaya WBW Sdn Bhd 放贷的 RM5,253,561 在借款人清盘后已被全额减值,在 2026 年 3 月 11 日向担保人发出索偿信后的追讨进展。

    Source: annual report 2025, page 137.出处:2025 年年报第 137 页。

  • The commercial launch of the EFX platform following regulatory approval obtained from Bank Negara Malaysia in December 2024.在 2024 年 12 月获得马来西亚国家银行监管批准后,EFX 平台的商业化推出时间。

    Source: annual report 2025, page 9.出处:2025 年年报第 9 页。

  • The deployment of remaining fund-raising proceeds, including RM19.9 million from the rights issue, RM8.4 million from the eFX issuance, and RM2.6 million from the private placement.剩余募集资金的运用情况,包括附加股募集资金的 RM19.9 million、eFX 发行的 RM8.4 million 以及私募配售的 RM2.6 million。

    Source: annual report 2025, pages 49, 50.出处:2025 年年报第 49、50 页。

  • Compliance adjustments ahead of the Hire-Purchase (Amendment) Act 2026 taking effect on 1 June 2026, which requires hire-purchase loans to use the reducing balance method.在 2026 年 6 月 1 日生效的《2026 年租购(修正)法令》实施前的合规调整,该法令要求租购贷款采用递减余额法。

    Source: annual report 2025, page 12.出处:2025 年年报第 12 页。

Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-24.内容为公司年报所印的事实,并注明页码;不评级,不构成投资建议。生成日期 2026-10-24。