DailySpaceSersol Berhad
0055 · ACE Market创业板（ACE Market） · annual reports 2022 to 2025, 330 entries read2022 至 2025 年报，共读出 330 条
The company这家公司
Sersol Berhad manufactures coatings and thinners, certified with ISO 9001:2015 Quality Management System, and also trades in electrical and electronic home appliances and device coatings.Sersol Berhad 制造涂料与稀释剂，持有 ISO 9001:2015 质量管理体系认证，并从事电子电器与设备涂料的贸易。
Source: annual report 2022, page 10.出处：2022 年年报第 10 页。
In 2022 the plastic and metal coatings segment generated approximately 84% of group revenue; in 2024 the group operated in plastic and metal coatings and decorative coatings, and in 2025 added the provision of money lending services as a third operating segment.2022 年，塑胶与金属涂料部门约占集团营业额的 84%；2024 年，集团经营塑胶与金属涂料以及装饰涂料部门，并在 2025 年将放贷服务列为第三个营运部门。
Source: annual report 2022, page 6; annual report 2024, page 6; annual report 2025, page 6.出处：2022 年年报第 6 页；2024 年年报第 6 页；2025 年年报第 6 页。
Geographically, revenue is derived from Malaysia and Thailand, with Malaysia contributing RM14,089,420 and Thailand RM5,000,346 in 2022, and Malaysia RM7,496,497 and Thailand RM5,538,800 in 2025. Customer A in Thailand contributed RM2,199,884 in 2022 and RM2,392,239 in 2025, while Customer B in Malaysia contributed RM1,856,812 in 2025.在地域上，营业额来自马来西亚与泰国；2022 年马来西亚贡献 RM14,089,420，泰国贡献 RM5,000,346；2025 年马来西亚贡献 RM7,496,497，泰国贡献 RM5,538,800。泰国的 Customer A 在 2022 年贡献 RM2,199,884，在 2025 年贡献 RM2,392,239；马来西亚的 Customer B 在 2025 年贡献 RM1,856,812。
Source: annual report 2022, pages 125, 144; annual report 2025, pages 95, 134.出处：2022 年年报第 125、144 页；2025 年年报第 95、134 页。
At 30 June 2025, Ice Age Property Sdn. Bhd. was the largest shareholder with 100,000,000 shares (13.67%), which represents a deemed interest of Dato' Mohamed Suffian bin Awang. Other large holdings included Affin Hwang Nominees (Tempatan) Sdn. Bhd. with 96,653,300 shares (13.21%), Affin Hwang Nominees (Asing) Sdn. Bhd. with 70,841,712 shares (9.69%), and M & A Nominee (Tempatan) Sdn. Bhd. with 51,876,700 shares (7.09%).截至 2025 年 6 月 30 日，Ice Age Property Sdn. Bhd. 为最大股东，持有 100,000,000 股（13.67%），此持股代表 Dato' Mohamed Suffian bin Awang 的视同权益。其他大股东包括持股 96,653,300 股（13.21%）的 Affin Hwang Nominees (Tempatan) Sdn. Bhd.、持股 70,841,712 股（9.69%）的 Affin Hwang Nominees (Asing) Sdn. Bhd.，以及持股 51,876,700 股（7.09%）的 M & A Nominee (Tempatan) Sdn. Bhd.。
Source: annual report 2025, pages 146, 147.出处：2025 年年报第 146、147 页。
In 2022, Dato' Lim Tiong Siang served as Non-Independent Non-Executive Chairman and his son Datuk Justin Lim Hwa Tat as Managing Director. In 2023, Justin Lim resigned as Managing Director on 15 June 2023 and became Chief Executive Officer, came under investigation by the Malaysian Anti-Corruption Commission regarding RM2,500,000 paid to HGC Legacy Enterprise, was suspended on 30 August 2023, and was terminated on 6 November 2023. At an extraordinary general meeting on 25 August 2023, shareholders removed Dato' Lim Tiong Siang, Shazreen binti Mohd Hatta, and Sia Meng Chan, and appointed Dato' Mohamed Suffian bin Awang, Alan Ling Sie Kiong, and Tan Tong Lang.2022 年，Dato' Lim Tiong Siang 担任非独立非执行主席，其子 Datuk Justin Lim Hwa Tat 担任董事经理。2023 年，Justin Lim 于 2023 年 6 月 15 日辞去董事经理职务并转任首席执行员，随后因向 HGC Legacy Enterprise 支付 RM2,500,000 款项而受到马来西亚反贪污委员会调查，于 2023 年 8 月 30 日被停职，并于 2023 年 11 月 6 日被正式终止职务。在 2023 年 8 月 25 日的股东特别大会上，股东罢免了 Dato' Lim Tiong Siang、Shazreen binti Mohd Hatta 与 Sia Meng Chan，并委任 Dato' Mohamed Suffian bin Awang、Alan Ling Sie Kiong 及 Tan Tong Lang。
Source: annual report 2022, pages 13, 14; annual report 2024, pages 35, 45, 63, 69.出处：2022 年年报第 13、14 页；2024 年年报第 35、45、63、69 页。
Revenue by country, 20252025 年按国家划分的营业额
Source: annual report 2025, page 95.出处：2025 年年报第 95 页。
Major events大事记
Source: annual report 2022, page 41.出处：2022 年年报第 41 页。
Source: annual report 2022, page 116.出处：2022 年年报第 116 页。
Source: annual report 2024, page 69.出处：2024 年年报第 69 页。
Source: annual report 2024, pages 35, 45, 63.出处：2024 年年报第 35、45、63 页。
Source: annual report 2024, page 144.出处：2024 年年报第 144 页。
Source: annual report 2025, page 58.出处：2025 年年报第 58 页。
Revenue, loss and operating cash营业额、亏损与营运现金
Total assets, liabilities and equity总资产、负债与权益
20222022 年
In 2022, the company raised RM15.565 million from the issuance of 47,929,000 placement shares and RM3.829 million from Private Placement I, alongside RM1,037,826 and RM522,653 from warrant conversions; net cash from financing activities was RM17,521,916. Net cash used in operating activities was RM18,690,233, and purchase of property, plant and equipment took RM3,803,631. Progress payments of RM11,732,238 to three suppliers for development works on a new business plan were written off after projects were terminated following a change in the ruling political party.2022 年，公司通过发行 47,929,000 股配售股筹集 RM15.565 million，通过第一项私下配售筹集 RM3.829 million，并通过凭单行权获得 RM1,037,826 与 RM522,653；融资活动所得现金净额为 RM17,521,916。营运活动所用现金净额为 RM18,690,233，购买物业、厂房与设备支出 RM3,803,631。因执政党更迭导致项目终止后，支付给三家供应商用于新业务计划开发工作的 RM11,732,238 进度款被全数冲销。
Source: annual report 2022, pages 41, 48, 100, 116.出处：2022 年年报第 41、48、100、116 页。
20242024 年
During the 18 months ended 30 June 2024, the company issued 134,801,184 new ordinary shares from warrant exercises for RM13,480,118; net cash from financing activities was RM13,149,989. Cash used in operating activities was RM4,765,008, while investing cash flows included RM11,788,515 spent on other investments and RM7,568,122 received from their disposal. A RM1,638,000 receivable from a glove supplier and deposits of RM5,556,000 were written off. Deposits and prepayments of RM10,335,837 made to six entities were allegedly instructed and approved by the former Managing Director; the group issued letters of demand seeking the return of RM10,107,000, and the board judged the likelihood of recovery minimal.截至 2024 年 6 月 30 日止的 18 个月内，公司因凭单行权发行 134,801,184 股新普通股，获得 RM13,480,118；融资活动所得现金净额为 RM13,149,989。营运活动所用现金为 RM4,765,008；投资活动现金流包括购买其他投资支出 RM11,788,515 及脱售所得 RM7,568,122。一笔来自手套供应商的 RM1,638,000 应收款项及 RM5,556,000 定金被冲销。支付给六家实体的 RM10,335,837 定金及预付款据称由前董事经理指示及批准；集团发出索赔函要求退还 RM10,107,000，董事会认为收回的可能性极小。
Source: annual report 2024, pages 60, 69, 83, 99, 101.出处：2024 年年报第 60、69、83、99、101 页。
20252025 年
In 2025, operating activities used net cash of RM7,552,713, and financing activities used net cash of RM680,342. The group acquired Happy Capital Sdn. Bhd. for RM44,000 and started money lending services; net loan receivables after impairment were RM9,052,366, unsecured, at 8% interest per annum with a tenure of three years. On 3 June 2025, the company completed a reduction of its issued share capital from RM52,502,426 to RM17,002,426.2025 年，营运活动所用现金净额为 RM7,552,713，融资活动所用现金净额为 RM680,342。集团以 RM44,000 收购 Happy Capital Sdn. Bhd. 并开展放贷业务；减值后应收贷款净额为 RM9,052,366，无抵押，年利率 8%，期限三年。2025 年 6 月 3 日，公司完成将已发行股本从 RM52,502,426 削减至 RM17,002,426。
Source: annual report 2025, pages 5, 58, 66, 115, 116.出处：2025 年年报第 5、58、66、115、116 页。
Across the years历年合看
Across the three reports, the group recorded losses in every period, while operating cash flows remained negative. No dividend was recommended for the period ended 30 June 2024. Cash and bank balances declined from RM8,027,137 at end 2021 to RM757,137 at 30 June 2025, while total equity moved from RM22,385,965 to RM18,740,395.在三份年报中，集团每个期间均录得亏损，且营运现金流持续为负。截至 2024 年 6 月 30 日止期间未建议派发股息。现金与银行结余由 2021 年底的 RM8,027,137 降至 2025 年 6 月 30 日的 RM757,137，总权益则由 RM22,385,965 变动至 RM18,740,395。
Source: annual report 2024, page 60.出处：2024 年年报第 60 页。
Still to be spent尚未支出的承诺
Bursa Securities granted the company an extension of time until 5 December 2025 to complete a proposed private placement of up to 84,996,600 new ordinary shares, which remained pending implementation at 30 June 2025.大马交易所批准将公司完成最多 84,996,600 股新普通股私下配售的期限延长至 2025 年 12 月 5 日，截至 2025 年 6 月 30 日该配售仍有待落实。
Source: annual report 2025, page 143.出处：2025 年年报第 143 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 | 2021 | 2022 | 2024 | 2025 |
|---|---|---|---|---|
| RM令吉 | RM令吉 | RM令吉 | RM令吉 | |
| Revenue营业额 | 15,568,253 | 19,089,766 | 21,860,985 | 13,035,297 |
| Loss before tax税前亏损 | (1,794,607) | (15,639,426) | (12,256,097) | (3,028,908) |
| Loss for the financial year/period年度/期间亏损 | (1,803,147) | (15,610,867) | (12,689,867) | (3,416,199) |
| Net cash used in operating activities营运活动所用现金净额 | (7,113,096) | (18,690,233) | (4,765,008) | (7,552,713) |
| Purchase of property, plant and equipment购买物业、厂房与设备 | (145,202) | (3,803,631) | (706,768) | (31,980) |
| Net cash from/(used in) financing activities融资活动所得/（所用）现金净额 | 8,460,417 | 17,521,916 | 13,149,989 | (680,342) |
| Total assets总资产 | 25,995,380 | 30,506,577 | 26,880,345 | 24,986,099 |
| Total liabilities总负债 | 3,609,415 | 4,452,362 | 4,728,089 | 6,245,704 |
| Total equity总权益 | 22,385,965 | 26,054,215 | 22,152,256 | 18,740,395 |
| Cash and bank balances现金与银行结余 | 8,027,137 | 2,712,375 | 6,466,608 | 757,137 |
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 |
|---|---|---|
| The group expected the business to grow and remained confident of achieving encouraging performance for the financial year ending 31 December 2023.集团预计业务将会增长，并有信心在截至 2023 年 12 月 31 日止财政年度取得令人鼓舞的业绩。 | The financial year end was changed from 31 December to 30 June, and the group recorded a loss for the financial period of RM12,689,867.财政年结日由 12 月 31 日变更为 6 月 30 日，集团录得期间亏损 RM12,689,867。 Source: annual report 2022, page 8; annual report 2024, page 59.出处：2022 年年报第 8 页；2024 年年报第 59 页。 | Incurred further losses进一步蒙受亏损 |
| To acquire Happy Capital Sdn. Bhd. for RM44,000 under an agreement of 16 February 2024, subject to renewal of its moneylender license根据 2024 年 2 月 16 日的协议以 RM44,000 收购 Happy Capital Sdn. Bhd.，须待其放贷牌照获得续期 | The license was renewed, full payment of RM44,000 was made on 9 August 2024, and Happy Capital provided money lending services in 2025.牌照已获续期，于 2024 年 8 月 9 日付清 RM44,000 款项，Happy Capital 于 2025 年提供放贷服务。 Source: annual report 2024, page 144; annual report 2025, pages 5, 115.出处：2024 年年报第 144 页；2025 年年报第 5、115 页。 | Carried out已执行 |
| Proposed to undertake a private placement of up to 84,996,600 new ordinary shares submitted on 9 April 2024.于 2024 年 4 月 9 日提呈建议，拟私下配售最多 84,996,600 股新普通股。 | Bursa Securities granted an extension of time until 5 December 2025, and the private placement was pending implementation.大马交易所批准延期至 2025 年 12 月 5 日，该私下配售仍有待落实。 Source: annual report 2024, page 144; annual report 2025, page 143.出处：2024 年年报第 144 页；2025 年年报第 143 页。 | Extended and pending已延期且待实施 |
| The company was in the midst of identifying a suitable candidate to appoint as Chairman.公司正在物色合适人选出任主席。 | In 2025, the board remained in the process of identifying a candidate for appointment as Chairman.2025 年，董事会仍在物色人选出任主席。 Source: annual report 2024, page 35; annual report 2025, page 35.出处：2024 年年报第 35 页；2025 年年报第 35 页。 | Still in progress仍在进行中 |
What the reports leave open年报留下待看的事
- Implementation of the proposed private placement of up to 84,996,600 new ordinary shares, which received an extension of time from Bursa Securities until 5 December 2025.最多 84,996,600 股新普通股的私下配售建议落实情况，大马交易所已批准延期至 2025 年 12 月 5 日。
Source: annual report 2025, page 143.出处：2025 年年报第 143 页。
- Performance and recoverability of unsecured loan receivables of RM9,052,366 at 8% interest per annum, concentrated across 5 loan debtors representing approximately 79% of group trade receivables.年利率 8% 的 RM9,052,366 无抵押应收贷款的表现与可收回性，该贷款集中于 5 名借款人，约占集团贸易应收款项的 79%。
Source: annual report 2025, pages 66, 116, 136.出处：2025 年年报第 66、116、136 页。
- The exercise or expiry of the 118,517,279 unexercised Warrants B, which expire on 15 November 2027.118,517,279 份未行权凭单 B 的行权或到期情况，该凭单将于 2027 年 11 月 15 日到期。
Source: annual report 2025, page 58.出处：2025 年年报第 58 页。
- Appointment of a Chairman to the Board, as the company was in the process of identifying a candidate following the removal of the former Chairman.董事会主席的委任，在前任主席被罢免后，公司仍在物色合适人选。
Source: annual report 2024, page 35; annual report 2025, page 35.出处：2024 年年报第 35 页；2025 年年报第 35 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。