DailySpaceHextar Capital Berhad
0035 · ACE Market创业板（ACE Market） · annual reports 2023 to 2025, 422 entries read2023 至 2025 年报，共读出 422 条
Revenue, 20252025 年营业额RM84.8m8.48千万令吉down 27.9% from比 2024 年减少 27.9%，当年为 RM117.7m1.18亿令吉 in 2024
Profit for the year, 20252025 年年度盈利RM3.40m340万令吉2024:2024 年： –RM3.86m–386万令吉
Total assets, 20252025 年总资产RM390.7m3.91亿令吉up 0.7% from比 2024 年增加 0.7%，当年为 RM388.0m3.88亿令吉 in 2024
Total equity, 20252025 年总权益RM271.7m2.72亿令吉up 25.6% from比 2024 年增加 25.6%，当年为 RM216.3m2.16亿令吉 in 2024
The company这家公司
Hextar Capital Berhad, formerly known as Opcom Holdings Berhad, operates predominantly in Malaysia, offering telecommunication network infrastructure solutions, fibre optic cables manufacturing, construction and project management, and financial solutions.Hextar Capital Berhad（前称为 Opcom Holdings Berhad）主要在马来西亚运营，业务涵盖电信网络基础设施解决方案、光纤电缆制造、建筑与项目管理以及金融解决方案。
Sources (5)出处（5）
With all the abovementioned corporate exercises, the Company has also officially changed its name from “Opcom Holdings Berhad” to “Hextar Capital Berhad” on 1 December 2023 to have a new corporate identity to better reflect the Group’s core business and its future undertakings.
In FPE 2023, we have diversified into providing telecommunications network infrastructure solutions via the acquisition of T & J Engineering Sdn. Bhd. (“TJE”).
(i) one of its subsidiaries, Opcom Trading Sdn. Bhd. has added money lending business as one of its principal activities on 03 October 2023; and
For FPE 2025, our Group recorded revenue of RM84.78 million, with the construction & project management segment and manufacturing segment emerging as the major contributors at 33.84% and 31.61% of our Group’s revenue respectively.
The Group operates predominantly in Malaysia and accordingly, the non-current assets of the Group are located in Malaysia.
Revenue structure has shifted across the reports: manufacturing contributed 38.32% of revenue in 2023, telecommunication network infrastructure solutions 50.61% in 2024, and construction and project management 33.84% (RM28.69 million) alongside manufacturing's 31.61% (RM26.80 million) in 2025.营业额结构在各报告期内有所转变：制造部门在 2023 年贡献了 38.32% 的营业额，电信网络基础设施解决方案在 2024 年贡献 50.61%，而建筑与项目管理在 2025 年贡献 33.84%（RM28.69 million），制造部门则贡献 31.61%（RM26.80 million）。
Sources (5)出处（5）
In FPE 2023, manufacturing segment revenue (38.32%) remains the Group’s top revenue contributor despite being significantly diluted from 83.28% in FYE 2022 to 38.32% in FPE 2023 following the higher revenue contributions from both trading & engineering services segment and the telecommunication network segment.
Our Group’s revenue for FYE 2024 was primarily derived from the telecommunication network infrastructure solutions segment, which accounted for 50.61% of our Group’s total revenue.
For FPE 2025, our Group recorded revenue of RM84.78 million, with the construction & project management segment and manufacturing segment emerging as the major contributors at 33.84% and 31.61% of our Group’s revenue respectively.
The manufacturing segment recorded revenue of RM26.80 million in FPE 2025, notwithstanding the subdued market demand for fibre optic cables and cable-related products observed throughout the period.
The construction & project management segment recorded revenue of RM28.69 million, primarily contributed by the ongoing execution of the RM97.04 million student hostel project at UMK by TJE.
Dato' Ong Choo Meng is a substantial shareholder holding 129,008,600 shares (22.203%), with multiple blocks held through pledged securities accounts. Datin Sri M. Saraswathy A/P Manikum holds 42,877,354 shares (7.379%), and her spouse Dato Sri J.O. Nantha Kumar A/L J.C. Ramalu holds an indirect interest in the same shares.Dato' Ong Choo Meng 为主要股东，持有 129,008,600 股（22.203%），其中多个区块通过抵押证券账户持有。Datin Sri M. Saraswathy A/P Manikum 持有 42,877,354 股（7.379%），其配偶 Dato Sri J.O. Nantha Kumar A/L J.C. Ramalu 对该等股份拥有间接权益。
Sources (5)出处（5）
Dato’ Ong Choo Meng 129,008,600 22.203 – –
Datin Sri M. Saraswathy A/P Manikum 42,877,354 7.379 – –
Dato Sri J.O. Nantha Kumar A/L J.C. Ramalu – – 42,877,354(i) 7.379
Dato’ Sri J.O. Nantha is the spouse of Datin Sri M. Saraswathy and is a Major Shareholder of the Company and TVSB via his indirect interest.
Pledged Securities Account - Ambank (M) Berhad for Dato’ Ong Choo Meng (Smart) 35,443,900 6.100
Dato' Ong Choo Meng is the nephew of director Ong Soon Lim. During the reported periods, Chang Kian Seong was appointed Managing Director, Gwi Fei Yi was appointed Executive Director, and Fong Wai Yi was appointed Chief Financial Officer on 1 July 2025.Dato' Ong Choo Meng 是董事 Ong Soon Lim 的侄儿。在报告期内，Chang Kian Seong 出任董事总经理，Gwi Fei Yi 出任执行董事，Fong Wai Yi 于 2025 年 7 月 1 日获委任为首席财务官。
Sources (6)出处（6）
Meanwhile, I would like to take this opportunity to welcome Mr. Chang Kian Seong, Johnson as our new Managing Director and Ms. Er Kian Hong, Elizabeth as our new Independent Non-Executive Director.
Y. Bhg. Dato’ Ong Choo Meng, the substantial shareholder of HCB, is the nephew of Ong Soon Lim.
I would like to take this opportunity to welcome Dato’ Haji Mohd Yazid bin Haji Mustafa as our new Independent Non-Executive Director, and Mr. Gwi Fei Yi as our new Executive Director.
In 2025, he joined HCB as the Non-Independent and Non-Executive Director and on 29 August 2025, re-designated to Executive Director of HCB and continues to hold until today.
Fong Wai Yi, aged 46, a female Malaysian, was appointed as the Chief Financial Officer of the Group on 1 July 2025.
OSL holds directorships in the subsidiary/ies of HTSB. He is also the uncle of OCM.
Revenue by segment, 20252025 年各部门营业额
Construction and project management 33.8%建筑与项目管理 33.8%Manufacturing 31.6%制造 31.6%Engineering services and trading 18.3%工程服务与贸易 18.3%Telecommunication network infrastructure 12.3%电信网络基础设施 12.3%Financial solutions 3.7%金融解决方案 3.7%Others 0.3%其他 0.3%
Sources (1)出处（1）
External revenue 26,799,696 15,515,447 10,413,283 28,693,140 3,147,279 213,451 - 84,782,296
Major events大事记
2023Completed acquisition of 100% equity interest in T & J Engineering Sdn. Bhd. on 7 March 2023 and changed company name to Hextar Capital Berhad on 1 December 2023.于 2023 年 3 月 7 日完成收购 T & J Engineering Sdn. Bhd. 100% 股权，并于 2023 年 12 月 1 日更名为 Hextar Capital Berhad。
Sources (2)出处（2）
With all the abovementioned corporate exercises, the Company has also officially changed its name from “Opcom Holdings Berhad” to “Hextar Capital Berhad” on 1 December 2023 to have a new corporate identity to better reflect the Group’s core business and its future undertakings.
To this end, the Group has acquired 100% equity interest in T & J Engineering Sdn. Bhd. (“TJE”) on 7 March 2023.
2023Acquired 18.03% equity interest in Binasat Communications Berhad on 2 October 2023 and obtained a moneylender license on 5 December 2023.于 2023 年 10 月 2 日收购 Binasat Communications Berhad 18.03% 股权，并于 2023 年 12 月 5 日取得放贷牌照。
Sources (2)出处（2）
Following the acquisition of TJE, the Group has also acquired 18.03% equity interest in Binasat Communications Berhad (“Binacom”) on 2 October 2023.
(iii) On 5 December 2023, a wholly-owned subsidiary of the Company, Opcom Trading Sdn. Bhd. obtained a moneylender license issued under the Moneylenders Act 1951 and the Moneylenders (Control and Licensing) Regulations 2003 from the Ministry of Housing and Local Government.
2024Completed acquisition of 49.00% equity interest in Transgrid Ventures Sdn. Bhd. on 10 January 2024 and an additional 6.75% stake in Binasat Communications Berhad on 12 January 2024.于 2024 年 1 月 10 日完成收购 Transgrid Ventures Sdn. Bhd. 49.00% 股权，并于 2024 年 1 月 12 日再买入 Binasat Communications Berhad 6.75% 股权。
Sources (3)出处（3）
To further strengthen its position in the telecommunications sector, HCB acquired a total of 24.78% equity interest in Binacom by tranches completed on 2 October 2023 and 12 January 2024.
On 10 January 2024, HCB also completed the acquisition of a 49.00% equity interest in Transgrid, marking the Group’s entry into the energy sector.
On 26 October 2023, OVCSB entered into multiple share sale agreements for the acquisition of 26,222,021 ordinary shares representing 6.75% equity interest in Binacom, for a total purchase consideration of RM14,684,332 to be satisfied wholly in cash (“proposed acquisition”).
2024Disposed equity interest in associates Unigel (UK) Limited and Unigel IP Limited on 7 June 2024 for RM10.036 million.于 2024 年 6 月 7 日脱售联营公司 Unigel (UK) Limited 与 Unigel IP Limited 股权，获得 RM10.036 million。
Sources (2)出处（2）
(c) On 7 June 2024, the Company had raised total proceeds of RM10.036million from the disposal of investment in Unigel (UK) Limited and Unigel IP Limited.
The disposals have been completed on 7 June 2024 following the receipt of the cash considerations.
2024Awarded a RM97.04 million contract on 10 July 2024 to construct student hostels at Universiti Malaysia Kelantan.于 2024 年 7 月 10 日获颁 RM97.04 million 合同，负责承建马来西亚吉兰丹大学的学生宿舍。
Sources (1)出处（1）
On 10 July 2024, TJE reached a significant milestone after the award of a RM97.04 million contract to construct student hostels at Universiti Malaysia Kelantan.
2025Acquired 100% equity interest in Legacy Core Sdn. Bhd. on 3 October 2025 and increased equity interest in Binasat Communications Berhad to 29.82%.于 2025 年 10 月 3 日收购 Legacy Core Sdn. Bhd. 100% 股权，并将 Binasat Communications Berhad 的持股比例提升至 29.82%。
Sources (2)出处（2）
To deepen our footprint in the telecommunications sector, we increased our equity interest in Binasat Communications Berhad (“Binacom”) from 23.39% as at 30 September 2024 to 29.82% as at 31 December 2025.
On 3 October 2025, the Company has acquired 137,000 ordinary shares in Legacy Core Sdn. Bhd. (“LCSB”), representing the entire equity interest in LCSB for a total purchase consideration of RM137,000.
Revenue, profit and total equity营业额、盈利与总权益
Revenue营业额
2022
RM87.2m8.72千万令吉
2023
RM217.5m2.18亿令吉
2024
RM117.7m1.18亿令吉
2025
RM84.8m8.48千万令吉
Profit for the year年度盈利
2022
RM6.40m640万令吉
2023
RM3.19m319万令吉
2024
–RM3.86m–386万令吉
2025
RM3.40m340万令吉
Total equity总权益
2022
RM167.8m1.68亿令吉
2023
RM202.0m2.02亿令吉
2024
RM216.3m2.16亿令吉
2025
RM271.7m2.72亿令吉
Assets, borrowings and cash资产、借款与现金
Total assets总资产
2022
RM181.7m1.82亿令吉
2023
RM309.6m3.10亿令吉
2024
RM388.0m3.88亿令吉
2025
RM390.7m3.91亿令吉
Loans and borrowings贷款与借款
2022
RM0.02m2万令吉
2023
RM27.1m2.71千万令吉
2024
RM78.8m7.88千万令吉
2025
RM77.8m7.78千万令吉
Cash and bank balances现金与银行结余
2022
RM61.2m6.12千万令吉
2023
RM61.1m6.11千万令吉
2024
RM19.9m1.99千万令吉
2025
RM14.0m1.40千万令吉
20232023 年
In 2023, the group completed the acquisition of T & J Engineering Sdn. Bhd. for RM56,135,683 through cash and issuance of 77,026,531 shares, with contingent deferred consideration payable. Private placement of 27,908,700 shares raised RM19.257 million. An impairment loss of RM14,333,061 was recognised on investment in an associate. Bank borrowings reached RM27,023,650 including a drawdown of RM8.18 million for working capital. No dividend was recommended.2023 年，集团完成以 RM56,135,683 收购 T & J Engineering Sdn. Bhd.，通过现金及发行 77,026,531 股支付，并附带或有延期代价。私人配售 27,908,700 股募集了 RM19.257 million。联营公司投资确认了 RM14,333,061 的减值损失。银行借款达 RM27,023,650，其中包括提取 RM8.18 million 用于营运资金。董事会未建议派发股息。
Sources (7)出处（7）
The Board does not recommend any dividend for the FPE 2023 as the Group intends to reserve cash for future business expansion purposes.
In addition, there was a bank borrowing drawdown of RM8.18 million for the working capital requirement.
(b) On 31 January 2023, the Company successfully raised RM19.257 million from the private placement by the issuance of 27,908,700 new ordinary shares on ACE Market of Bursa Securities.
(ii) issued 77,026,531 new ordinary shares at RM0.665 per share as part of purchase consideration for the acquisition of 100% equity in T&J Engineering Sdn. Bhd.
On 7 March 2023, the Company completed the acquisition of TJE for purchase consideration of RM56,135,683 as follows:
During the financial period, the Company recorded an impairment of RM14,333,061 in the statement of comprehensive income as a result of the shortfall arising from the lower recoverable amount of investment in an associate as compared to the carrying amount as at 30 September 2023.
Bank borrowings 27,023,650 -
20242024 年
In 2024, the group acquired a 24.78% equity interest in Binasat Communications Berhad and 49.00% in Transgrid Ventures Sdn. Bhd., utilizing RM73.58 million in funds and issuing 62,941,554 new shares for Transgrid. Bank borrowings increased by RM51.81 million to RM78,837,885 to fund these acquisitions. Disposal of associates Unigel (UK) Limited and Unigel IP Limited generated proceeds of RM10.036 million. Money lending operations commenced with a RM24.00 million credit facility extended. No dividend was recommended.2024 年，集团收购了 Binasat Communications Berhad 24.78% 股权与 Transgrid Ventures Sdn. Bhd. 49.00% 股权，共动用 RM73.58 million 资金，并就 Transgrid 发行了 62,941,554 股新股。银行借款增加 RM51.81 million 至 RM78,837,885 以资助收购。脱售联营公司 Unigel (UK) Limited 与 Unigel IP Limited 带来 RM10.036 million 收益。放贷业务启动，发放了 RM24.00 million 信用额度。董事会未建议派发股息。
Sources (9)出处（9）
A key highlight was the strengthening of our presence in the telecommunications sector through the acquisition of a 24.78% equity stake in Binasat Communications Berhad (“Binacom”).
As part of our diversification efforts, we also successfully acquired a 49.00% interest in Transgrid Ventures Sdn. Bhd. (“Transgrid”) on 10 January 2024.
On 24 June 2024, OTSB provided a credit facility totalling RM24.00 million to a private company, marking our inaugural venture into this sector.
The Board does not to recommend any dividend for the FYE 2024 as the Group intends to conserve cash for business expansion.
The increase was mainly due to higher bank borrowings, which increased by RM51.81 million to finance the acquisitions of Binacom and Transgrid.
The net cash used in investing activities of RM62.26 million was primarily due to the funds utilised for the acquisitions of both Binacom and Transgrid, amounting to RM73.58 million collectively during the FYE 2024.
(c) On 7 June 2024, the Company had raised total proceeds of RM10.036million from the disposal of investment in Unigel (UK) Limited and Unigel IP Limited.
During the financial year, the Company issued 62,941,554 new ordinary shares at a price of RM0.7785 per ordinary share as part of purchase consideration for the acquisition of 49% equity interest in Transgrid Ventures Sdn. Bhd.
Bank borrowings 78,837,885 27,023,650
20252025 年
In 2025, investing cash outflows included RM37.10 million in deferred consideration paid for TJE and Transgrid, and RM17,632,003 to increase equity in Binasat Communications Berhad to 29.82%. A private placement raised RM29.137 million. The group acquired Legacy Core Sdn. Bhd. for RM137,000 and subscribed for an additional RM2,250,000 of its shares. Bank borrowings stood at RM77,849,063, and no dividend was recommended.2025 年，投资现金流出包括支付 TJE 与 Transgrid 的延期代价 RM37.10 million，以及 RM17,632,003 用于将 Binasat Communications Berhad 的持股增至 29.82%。私人配售募集了 RM29.137 million。集团以 RM137,000 收购 Legacy Core Sdn. Bhd.，并额外认购其 RM2,250,000 股份。银行借款为 RM77,849,063，董事会未建议派发股息。
Sources (8)出处（8）
To deepen our footprint in the telecommunications sector, we increased our equity interest in Binasat Communications Berhad (“Binacom”) from 23.39% as at 30 September 2024 to 29.82% as at 31 December 2025.
The Board does not recommend any dividend for the FPE 2025 as our Group intends to conserve cash for future business expansion.
The net cash used in investing activities of RM42.51 million in FPE 2025 was mainly due to the payment of deferred consideration of RM37.10 million in relation to the acquisition of TJE and Transgrid and the additional investment in associates of RM17.63 million.
The Company has completed the 30% private placement of up to 134,089,200 new shares with total proceed raised amounting to RM29.137 million (“Actual proceeds raised”).
On 3 October 2025, the Company has acquired 137,000 ordinary shares in Legacy Core Sdn. Bhd. (“LCSB”), representing the entire equity interest in LCSB for a total purchase consideration of RM137,000.
On 9 December 2025, the Company further subscribed additional 2,250,000 ordinary shares alloted by LCSB for cash consideration of RM2,250,000.
During the financial period, the Group increased its equity interest in Binacom from 23.39% to 29.82% for a total cash consideration of RM17,632,003.
Loan and borrowings 77,849,063 34,072,170 51,344,076 - 85,416,246
Across the three reports三份报告合看
Across the three reports, no dividends were recommended as cash was conserved for business expansion. Trade receivables formed a significant portion of total assets, accounting for RM110.6 million (35.7%) in 2023, RM154,257,320 (39.8%) in 2024, and RM152,006,116 (38.9%) in 2025. The group pledged its shareholding in associate Binasat Communications Berhad as collateral for term loans.三份报告合看，为保留资金用于业务扩展，均未建议派发股息。应收账款占总资产比例较高，2023 年为 RM110.6 million（35.7%），2024 年为 RM154,257,320（39.8%），2025 年为 RM152,006,116（38.9%）。集团将其在联营公司 Binasat Communications Berhad 的持股质押作为定期贷款的抵押品。
Sources (8)出处（8）
The Board does not recommend any dividend for the FPE 2023 as the Group intends to reserve cash for future business expansion purposes.
The Group recorded trade receivables of RM110.6 million, which represents 35.7% of the Group’s total assets as of 30 September 2023.
The Board does not to recommend any dividend for the FYE 2024 as the Group intends to conserve cash for business expansion.
The Group’s interest in Binacom is pledged as collateral for a term loan as disclosed in Note 20(a).
The Group recorded trade receivables of RM154,257,320, which represents 39.8% of the Group’s total assets as of 30 September 2024.
The Board does not recommend any dividend for the FPE 2025 as our Group intends to conserve cash for future business expansion.
(vi) The Group’s interest in Binacom is pledged as collateral for a term loan as disclosed in Note 18(a).
As at 31 December 2025, the Group’s trade receivables amounted to RM152,006,116, representing 38.9% of the Group’s total assets.
Still to be spent尚未支出的承诺
The group had no capital commitments as at 30 September 2023, 30 September 2024, or 31 December 2025. The RM19.257 million proceeds from the January 2023 private placement and the RM29.137 million proceeds from the 2025 private placement were fully deployed as at 31 December 2025.截至 2023 年 9 月 30 日、2024 年 9 月 30 日及 2025 年 12 月 31 日，集团均无资本承诺。2023 年 1 月私人配售募集的 RM19.257 million 资金及 2025 年私人配售募集的 RM29.137 million 资金在截至 2025 年 12 月 31 日已全部使用完毕。
Sources (6)出处（6）
We do not have a capital commitment as at 30 September 2023.
Total 19,257 (4,765) 14,992
As at 30 September 2024, we do not have any capital commitment.
As at 31 December 2025, we do not have any capital commitment.
Total 19,257 (19,257) - -
Total 41,568 - 41,568 29,137 (29,137) - -
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 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| RM令吉 | RM令吉 | RM令吉 | RM令吉 | |
| Revenue营业额 | 87,173,736 | 217,533,024 | 117,653,139 | 84,782,296 |
| Profit before taxation税前盈利 | 7,561,223 | 10,982,961 | (3,497,497) | 5,657,609 |
| Profit for the year年度盈利 | 6,399,250 | 3,193,327 | (3,858,939) | 3,395,039 |
| Total assets总资产 | 181,659,491 | 309,647,453 | 387,963,900 | 390,695,633 |
| Total equity总权益 | 167,758,009 | 201,961,062 | 216,322,147 | 271,731,604 |
| Loans and borrowings贷款与借款 | 22,167 | 27,143,405 | 78,837,885 | 77,849,063 |
| Cash and bank balances现金与银行结余 | 61,190,916 | 61,085,037 | 19,926,019 | 14,004,514 |
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 |
|---|---|---|
| TJE to construct communication towers at 158 sites in Sarawak under JENDELA Phase 1TJE 在 JENDELA 第一阶段下于砂拉越 158 个地点建造通信塔 | 94.70% complete at 30 September 2024; the 2025 report says TJE completed its obligations under JENDELA Phase 1, with towers at 138 sites (the 2023 report spoke of 158 sites).2024 年 9 月 30 日完成 94.70%；2025 年报说 TJE 已完成 JENDELA 第一阶段的义务，共建 138 个站点的通讯塔（2023 年报说的是 158 个站点）。Sources (4)出处（4）TJE is involved in constructing communication towers at 158 sites in Sarawak under the Jalinan Digital Negara (“JENDELA”) Phase 1 project. As of 30 September 2023, approximately 64% of work done was recognised, contributing revenue of RM74.74 million to the Group. This project contributed RM59.32 million to our Group’s revenue and was 94.70% completed as at 30 September 2024. On the project execution front, our Group’s wholly-owned subsidiary, TJE, successfully completed our obligations under JENDELA Phase 1, which involved the construction of communication towers at 138 sites across Sarawak. | Completed, at 138 of the 158 sites first stated已完成，站点数为 138 个，而非最初说的 158 个 |
| Disposal of 40% equity interest in associates Unigel (UK) Limited and Unigel IP Limited for GBP1,300,000 and GBP400,000分别以 GBP1,300,000 及 GBP400,000 脱售联营公司 Unigel (UK) Limited 与 Unigel IP Limited 40% 股权 | Completed on 7 June 2024 with cash proceeds of RM10.036 million received于 2024 年 6 月 7 日完成，收回现金 RM10.036 millionSources (4)出处（4）* On 23 January 2024, the Group had entered into share sale agreements to dispose its equity interest in Unigel (UK) Limited and Unigel IP Limited On 23 January 2024, Unigel Compounds Sdn. Bhd. had entered into share sale agreements to dispose 400,000 ordinary shares and 400 ordinary shares in Unigel (UK) and UIP respectively, representing 40% equity interest in Unigel (UK) and UIP, for GBP1,300,000 and GBP400,000 respectively, to be satisfied by cash (“proposed disposal”). (c) On 7 June 2024, the Company had raised total proceeds of RM10.036million from the disposal of investment in Unigel (UK) Limited and Unigel IP Limited. The disposals have been completed on 7 June 2024 following the receipt of the cash considerations. | Completed已完成 |
| Acquisition of 49% equity interest in Transgrid Ventures Sdn. Bhd. for up to RM98.0 million and an additional 6.75% in Binasat Communications Berhad以最高 RM98.0 million 收购 Transgrid Ventures Sdn. Bhd. 49% 股权，并再买入 Binasat Communications Berhad 6.75% 股权 | Completed on 10 January 2024 for Transgrid Ventures Sdn. Bhd. and 12 January 2024 for Binasat Communications BerhadTransgrid Ventures Sdn. Bhd. 于 2024 年 1 月 10 日完成收购，Binasat Communications Berhad 于 2024 年 1 月 12 日完成收购Sources (5)出处（5）(vii) On 1 August 2023, the Company announced the (i) proposed acquisition of 5,390,000 ordinary shares in Transgrid Ventures Sdn. Bhd. (“TVSB”), representing 49.0% equity interest in TVSB, for a total purchase consideration of up to RM98.0 million, to be satisfied by a combination of shares and cash, (ii) On 26 October 2023, OVCSB entered into multiple share sale agreements for the acquisition of 26,222,021 ordinary shares representing 6.75% equity interest in Binacom, for a total purchase consideration of RM14,684,332 to be satisfied wholly in cash (“proposed acquisition”). To further strengthen its position in the telecommunications sector, HCB acquired a total of 24.78% equity interest in Binacom by tranches completed on 2 October 2023 and 12 January 2024. On 10 January 2024, HCB also completed the acquisition of a 49.00% equity interest in Transgrid, marking the Group’s entry into the energy sector. On 26 October 2023, OVCSB entered into multiple share sale agreements for the acquisition of 26,222,021 ordinary shares representing 6.75% equity interest in Binacom, for a total purchase consideration of RM14,684,332 to be satisfied wholly in cash (“proposed acquisition”). | Completed已完成 |
| Execution of RM97.04 million contract to construct student hostels at Universiti Malaysia Kelantan执行承建马来西亚吉兰丹大学学生宿舍的 RM97.04 million 合同 | Ongoing in 2025, generating RM28.69 million in revenue for the construction and project management segment2025 年持续执行中，为建筑与项目管理部门带来 RM28.69 million 营业额Sources (3)出处（3）On 10 July 2024, TJE reached a significant milestone after the award of a RM97.04 million contract to construct student hostels at Universiti Malaysia Kelantan. Switching from our telecommunication network infrastructure segment to the construction & project management segment, TJE is now focusing on the execution of the RM97.04 million Universiti Malaysia Kelantan (“UMK”) student hostel project. The construction & project management segment recorded revenue of RM28.69 million, primarily contributed by the ongoing execution of the RM97.04 million student hostel project at UMK by TJE. | In progress进行中 |
| Commitment to achieve Net Zero Carbon Emissions by 2050承诺在 2050 年实现净零碳排放 | Reaffirmed the commitment to achieve Net Zero Carbon Emissions by 2050 in FPE 2025在 2025 财年报告中重申了在 2050 年实现净零碳排放的承诺Sources (2)出处（2）The Group is committed to achieve Net Zero Carbon Emissions by 2050 that aligned with the Malaysia’s national aspirations. The Group is committed to achieve Net Zero Carbon Emissions by 2050 that aligned with the Malaysia’s national aspirations. | Ongoing target持续推进中 |
What the reports leave open年报留下待看的事
- Trade receivables stood at RM152,006,116 (38.9% of total assets) as at 31 December 2025, including RM52.00 million repayable in 36 monthly instalments through December 2027 and RM7.62 million in 12 monthly instalments through December 2026.截至 2025 年 12 月 31 日，应收账款为 RM152,006,116（占总资产 38.9%），其中包括 RM52.00 million 分 36 个月分期偿还至 2027 年 12 月，以及 RM7.62 million 分 12 个月分期偿还至 2026 年 12 月。
Sources (3)出处（3）
(i) An amount of RM52.00 million (30.09.2024: RM61.54 million) is repayable in 36 monthly instalments, commencing from January 2025 to December 2027; and
(ii) An amount of RM7.62 million (30.09.2024: RM Nil) is repayable in 12 monthly instalments, commencing from January 2026 to December 2026.
As at 31 December 2025, the Group’s trade receivables amounted to RM152,006,116, representing 38.9% of the Group’s total assets.
- The market value of the investment in Binasat Communications Berhad of RM18.02 million at 31 December 2025 was lower than its carrying amount of RM50.26 million, subject to impairment assessment based on value-in-use.截至 2025 年 12 月 31 日，对 Binasat Communications Berhad 的投资市值为 RM18.02 million，低于其 RM50.26 million 的账面值，需依据使用价值评估进行减值测试。
Sources (3)出处（3）
As at 31 December 2025, the market value of the Group’s investment in Binacom amounted to RM18.02 million (30.09.2024: RM20.69 million) which was lower than its carrying amount of RM50.26 million (30.09.2024: RM35.65 million).
Management performed an impairment assessment of the investment in Binacom due to impairment indicators identified as at the reporting date, including the carrying amount of the investment exceeding the quoted market value of Binacom shares of RM18,018,394.
The assessment involved significant judgement, particularly in view of Binacom’s loss-making position during the current financial period and the estimation uncertainty involved in determining the recoverable amount based on value-in-use calculations.
- Legacy Core Sdn. Bhd. was awarded a RM75.90 million construction contract in Sabah in March 2026, while the company signed an agreement to dispose of part of its interest, reducing its stake from 100% to 60% for RM1,200,000.Legacy Core Sdn. Bhd. 于 2026 年 3 月在沙巴获颁 RM75.90 million 建筑合同，而公司已签署协议以 RM1,200,000 脱售部分股权，持股比例从 100% 降至 60%。
Sources (3)出处（3）
For our construction & project management segment, LCSB was awarded a contract worth RM75.90 million in Sabah in March 2026 for the geotechnical and earth works, pavement, infrastructure works and related construction works.
On 16 March 2026, the Company entered into a Sales and Purchase Agreement with a third party for the disposal of 1,200,000 ordinary shares in LCSB for a total cash consideration of RM1,200,000.
Upon completion of the disposal, the Company’s equity interest in LCSB will be reduced from 100% to 60%, resulting in a dilution of interest in a subsidiary while retaining control.
- Associate Transgrid Ventures Sdn. Bhd. secured contracts from Tenaga Nasional Berhad for data centre substation projects totalling RM690.5 million and a RM142.6 million landing station contract via joint venture.联营公司 Transgrid Ventures Sdn. Bhd. 获马来西亚国家电网颁发总值 RM690.5 million 的数据中心变电站项目合同，并透过合资公司获得 RM142.6 million 登陆站项目合同。
Sources (2)出处（2）
Our Group’s 49%-owned associate, Transgrid, which is principally involved in power generation and transmission, secured sizable contracts from TNB for data centre substation projects totalling RM690.5 million, including Malaysia’s first 500/275kV GIS at Gurun East, Kedah and Bukit Batu, Johor, as
Transgrid also secured a contract of RM142.6 million for consumer landing station works at Mukim Pulai, Johor via a joint venture arrangement.
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-12.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 2026-10-12。