DailySpaceAsdion Berhad
0068 · ACE Market创业板（ACE Market） · annual reports 2022 to 2025, 1321 entries read2022 至 2025 年报，共读出 1321 条
The company这家公司
Asdion operates within logistics, commodity trading, engineering, property development, stainless steel and related activities. In each report, revenue came from the logistics segment of business, consisting of freight forwarding and trucking services.Asdion 经营物流、大宗商品贸易、工程、房地产开发、不锈钢及相关业务。在每份年报中，营业额均来自物流业务部门，包括货运代理与货车运输服务。
Source: annual report 2022, pages 11, 156; annual report 2024, page 11; annual report 2025, page 12.出处：2022 年年报第 11、156 页；2024 年年报第 11 页；2025 年年报第 12 页。
In the financial period ended 30 September 2025, revenue from Malaysia was RM26,023,952 and revenue from Indonesia was RM8,854,073. Sales to a company in which a director of a subsidiary has interest were RM20,636,565, while purchases from that company were RM18,271,937. Customer B brought RM7,816,280 and Customer C brought RM3,492,630 of logistics revenue.截至 2025 年 9 月 30 日止财政期间，来自马来西亚的营业额为 RM26,023,952，来自印度尼西亚的营业额为 RM8,854,073。向子公司董事拥有权益之公司的销售额为 RM20,636,565，向该公司的采购额为 RM18,271,937。客户 B 与客户 C 分别贡献了 RM7,816,280 及 RM3,492,630 的物流营业额。
Source: annual report 2025, pages 154, 162, 169.出处：2025 年年报第 154、162、169 页。
At 30 September 2025, the largest account in the analysis of shareholdings was Kenanga Nominees (Asing) Sdn Bhd Exempt An For Phillip Securities Pte Ltd (Client Account) with 120,010,000 shares (23.50%). Several accounts were pledged securities accounts, including Public Nominees (Tempatan) Sdn Bhd for Goh Wai Weng with 8,950,000 shares (1.75%) and TA Nominees (Tempatan) Sdn Bhd for Goh Kian Chai with 4,250,000 shares (0.83%).截至 2025 年 9 月 30 日，股权结构分析中最大的账户为 Kenanga Nominees (Asing) Sdn Bhd Exempt An For Phillip Securities Pte Ltd (Client Account)，持有 120,010,000 股（23.50%）。若干账户为抵押证券账户，包括 Public Nominees (Tempatan) Sdn Bhd 为 Goh Wai Weng 持有的 8,950,000 股（1.75%）以及 TA Nominees (Tempatan) Sdn Bhd 为 Goh Kian Chai 持有的 4,250,000 股（0.83%）。
Source: annual report 2025, page 183.出处：2025 年年报第 183 页。
All directors in office at the end of the 2025 financial period held no shares in the company or its related corporations. The 2025 report states that none of the directors have any family relationship with other directors or major shareholders of the company.2025 财政期间期末在任的所有董事均未持有公司或其关联公司的股份。2025 年报说明董事之间以及与公司主要股东之间均无亲属关系。
Source: annual report 2025, pages 8, 50.出处：2025 年年报第 8、50 页。
Executive director Encik Razmi Bin Alias was appointed on 1 March 2017; Bursa Securities publicly reprimanded and fined him RM50,000 on 22 September 2020. Independent Non-Executive Chairman Dato' Jagjit Singh A/L Bant Singh resigned on 31 January 2023, and Encik Abdul Latib Bin Tokimin was appointed Independent Non-Executive Chairman on 24 February 2023 before resigning on 3 February 2025. Kamarul Annuar Bin Mohamed Fakri was appointed Chief Financial Officer on 17 November 2025.执行董事 Encik Razmi Bin Alias 于 2017 年 3 月 1 日获委任；大马交易所于 2020 年 9 月 22 日对他公开谴责并罚款 RM50,000。独立非执行主席 Dato' Jagjit Singh A/L Bant Singh 于 2023 年 1 月 31 日辞职，Encik Abdul Latib Bin Tokimin 于 2023 年 2 月 24 日获委任为独立非执行主席，后于 2025 年 2 月 3 日辞职。Kamarul Annuar Bin Mohamed Fakri 于 2025 年 11 月 17 日获委任为首席财务官。
Source: annual report 2022, page 5; annual report 2024, pages 4, 5; annual report 2025, pages 4, 10.出处：2022 年年报第 5 页；2024 年年报第 4、5 页；2025 年年报第 4、10 页。
Revenue by country, 20252025 年按国家划分的营业额
Source: annual report 2025, page 154.出处：2025 年年报第 154 页。
Major events大事记
Source: annual report 2022, page 42.出处：2022 年年报第 42 页。
Source: annual report 2024, page 144.出处：2024 年年报第 144 页。
Source: annual report 2024, page 58.出处：2024 年年报第 58 页。
Source: annual report 2024, page 44.出处：2024 年年报第 44 页。
Source: annual report 2025, page 180.出处：2025 年年报第 180 页。
Source: annual report 2025, page 181.出处：2025 年年报第 181 页。
Revenue and profit or loss before taxation营业额与税前盈利／亏损
Assets and liabilities资产与负债
Cash and fixed deposits现金与定期存款
20222022 年
In the financial year ended 30 September 2022, consolidated revenue was RM3.84 million and net loss was RM4,048,678. The company raised RM6,058,450 from issuing shares through private placements and RM1,090,618 from the conversion of 16,778,736 ICPS. Additions to deferred expenditure for the Tumpat development project were RM21,008,185. Financing flows included advances from directors of RM1,340,545, repayment of lease liabilities of RM302,673, and interest paid of RM125,417. Goodwill of RM1,061,838 was impaired. No dividend was declared.截至 2022 年 9 月 30 日止财政年度，综合营业额为 RM3.84 million，净亏损为 RM4,048,678。公司通过私下配售发行股份筹得 RM6,058,450，并从转换 16,778,736 股 ICPS 中获得 RM1,090,618。道北开发项目的递延支出增加 RM21,008,185。融资现金流包括董事预付款 RM1,340,545、偿还租赁负债 RM302,673 以及支付利息 RM125,417。商誉减值 RM1,061,838。未宣派股息。
Source: annual report 2022, pages 11, 46, 54, 64, 68, 69, 73, 141.出处：2022 年年报第 11、46、54、64、68、69、73、141 页。
20242024 年
For the 18 months ended 31 March 2024, revenue was RM6.89 million and net loss was RM7,792,767, with net cash used in operating activities of RM19,613,848. Shares issued in the period totalled RM18,496,904 and New ICPS RM2,706,864. Most of this was not cash: it settled RM17,208,583 owed to third parties, through 171,271,475 settlement shares at RM0.08 each and 67,671,600 New ICPS at RM0.04 each, and the 67,671,600 ICPS were then converted into shares. Cash financing outflows included RM2,963,063 repaid to directors, RM727,043 for lease liabilities, and RM185,604 of interest paid. A project advance of RM636,000 was paid to PT Indoexpress Logistics. Impairments included RM2,529,438 on trade receivables, RM796,378 on goodwill, and an RM831,448 fair value loss on investment in RCPS. No dividend was paid.截至 2024 年 3 月 31 日止 18 个月，营业额为 RM6.89 million，净亏损为 RM7,792,767，营运活动现金净流出 RM19,613,848。期内发行股份共 RM18,496,904，发行新 ICPS 共 RM2,706,864。其中大部分并非现金：公司以每股 RM0.08 发行 171,271,475 股和解股份、以每股 RM0.04 发行 67,671,600 股新 ICPS，清偿欠第三方的 RM17,208,583，这 67,671,600 股 ICPS 其后转换为普通股。融资现金流出包括偿还董事 RM2,963,063、租赁负债 RM727,043 及支付利息 RM185,604。向 PT Indoexpress Logistics 支付了 RM636,000 的项目预付款。减值损失包括应收账款 RM2,529,438、商誉 RM796,378 以及 RCPS 投资公允价值亏损 RM831,448。未派发股息。
Source: annual report 2024, pages 10, 48, 49, 56, 65, 67, 70, 71, 72, 131, 144.出处：2024 年年报第 10、48、49、56、65、67、70、71、72、131、144 页。
20252025 年
For the 18 months ended 30 September 2025, revenue was RM34.88 million, profit before taxation was RM7.0 million, and profit for the period was RM6,469,136. Operating activities generated net cash inflow of RM3,094,250. The company acquired PT Indoexpress Logistics and Transeaways Shipping Sdn Bhd for total consideration of RM6,954,153, of which RM5,954,153 was for PT Indoexpress Logistics. Financing inflows included RM635,304 of bank borrowings drawn. Cash outflows included RM1,814,807 repaid to directors, RM520,551 of interest paid, RM228,296 for property, plant and equipment, and RM32,249 for lease liabilities. Reversals of impairment loss were RM3,421,160 on trade receivables and RM3,581,352 on other receivables. No shares were issued and no dividend was recommended.截至 2025 年 9 月 30 日止 18 个月，营业额为 RM34.88 million，税前盈利为 RM7.0 million，期内盈利为 RM6,469,136。营运活动产生现金净流入 RM3,094,250。公司收购了 PT Indoexpress Logistics 和 Transeaways Shipping Sdn Bhd，总对价 RM6,954,153，其中 RM5,954,153 为收购 PT Indoexpress Logistics 的对价。融资流入包括提取银行借款 RM635,304。现金流出包括偿还董事 RM1,814,807、支付利息 RM520,551、购置物业、厂房与设备 RM228,296 以及租赁负债 RM32,249。应收账款减值拨回 RM3,421,160，其他应收款减值拨回 RM3,581,352。未发行股份，亦未建议派发股息。
Source: annual report 2025, pages 11, 48, 49, 72, 78, 130, 156.出处：2025 年年报第 11、48、49、72、78、130、156 页。
Across the three years三年合看
External auditors issued a disclaimer of opinion on the financial statements for both 2024 and 2025. On 31 July 2024, the company was classified as a GN3 company under the ACE Market Listing Requirements. Venice Sanctuary Sdn Bhd carried RM26,719,021 in deferred expenditure for the Tumpat project in all three reports, while the 2025 auditors stated the project has experienced limited progress over a prolonged period. Group accumulated losses stood at RM6,086,084 in 2022, RM13,878,801 in 2024, and RM8,909,180 in 2025. The group was involved in multiple creditor litigations and winding-up proceedings across the period. No dividend was declared in any report.外聘审计师对 2024 年和 2025 年的财务报表均出具了免责声明。2024 年 7 月 31 日，公司被列为创业板上市准则下的 GN3 公司。Venice Sanctuary Sdn Bhd 在三份年报中均列账道北项目的递延支出 RM26,719,021，而 2025 年审计师指出该项目长期进展有限。集团累计亏损在 2022 年为 RM6,086,084，2024 年为 RM13,878,801，2025 年为 RM8,909,180。在此期间集团卷入了多起债权人诉讼与清盘程序。各份年报均未宣派股息。
Source: annual report 2022, pages 46, 55, 73; annual report 2024, pages 49, 56, 57, 58, 77; annual report 2025, pages 48, 56, 58, 59, 78.出处：2022 年年报第 46、55、73 页；2024 年年报第 49、56、57、58、77 页；2025 年年报第 48、56、58、59、78 页。
Still to be spent尚未支出的承诺
The 2025 report shows no unused proceeds, as no corporate proposals raised funds during the period. The company's call option to acquire all of Kingdom Infra Holdings Sdn Bhd, for up to RM66,500,000, had been extended to 7 December 2025. At 30 September 2025, bank borrowings were RM1,204,968, lease liabilities were RM164,297, and provisions for material litigation stood at RM167,135.2025 年报未显示未动用资金，期内未通过企业方案筹集资金。公司以不超过 RM66,500,000 收购 Kingdom Infra Holdings Sdn Bhd 全部股权的认购期权，已延长至 2025 年 12 月 7 日。截至 2025 年 9 月 30 日，银行借款为 RM1,204,968，租赁负债为 RM164,297，重大诉讼拨备为 RM167,135。
Source: annual report 2024, page 133; annual report 2025, pages 44, 64, 78, 135.出处：2024 年年报第 133 页；2025 年年报第 44、64、78、135 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 | 4,329,511 | 3,837,834 | 6,890,650 | 34,878,025 |
| Profit/(Loss) before taxation税前盈利／（亏损） | (2,289,296) | (4,048,678) | (7,792,767) | 6,483,806 |
| Total assets总资产 | 18,125,982 | 39,656,257 | 35,001,809 | 64,340,543 |
| Total liabilities总负债 | 9,969,766 | 28,399,655 | 7,596,808 | 13,727,637 |
| Total equity总权益 | – | 11,256,602 | 27,405,001 | 50,612,906 |
| Other investments其他投资 | 1,212,763 | 1,559,781 | 1,364,332 | 11,006,932 |
| Fixed deposits with a licensed bank定期存款 | 140,351 | 142,652 | 146,983 | 86,948 |
| Cash and bank balances现金与银行结余 | 205,289 | 106,028 | 53,406 | 158,411 |
| Purchase of property, plant and equipment购买物业、厂房与设备 | – | (580) | (12,968) | (228,296) |
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 |
|---|---|---|
| Complete first stage infrastructure works of the Tumpat Project and commence jetty operations in 2023完成道北项目第一阶段基础设施工程并在 2023 年启动码头运营 | A temporary customs approval was granted in April 2023, but commercial operation did not commence; in 2025 auditors reported limited progress over a prolonged period and termination risk.2023 年 4 月获得临时海关批准，但未启动商业运营；2025 年审计师指出项目长期进展有限并面临终止风险。 Source: annual report 2022, page 10; annual report 2024, pages 58, 135; annual report 2025, page 59.出处：2022 年年报第 10 页；2024 年年报第 58、135 页；2025 年年报第 59 页。 | Not commenced; subject to termination risk未启动运营；面临终止风险 |
| Undertake debt settlement scheme to settle RM7,208,583 of debt owing to Kingdom Saga Sdn Bhd and RM9,200,000 owing to Million Saint Consultancy Sdn Bhd through share issuance实施债务重组计划，通过发行股份结清结欠 Kingdom Saga Sdn Bhd 的 RM7,208,583 及 Million Saint Consultancy Sdn Bhd 的 RM9,200,000 债务 | Issued 171,271,475 settlement shares at RM0.08 each, clearing the RM16,408,583 debt balance from other payables.按每股 RM0.08 发行了 171,271,475 股和解股份，清除了其他应付款中 RM16,408,583 的债务结余。 Source: annual report 2022, page 177; annual report 2024, pages 49, 152.出处：2022 年年报第 177 页；2024 年年报第 49、152 页。 | Carried out已执行 |
| Make a proposal to TCIM Sdn Bhd to settle debt under the winding-up petition for RM966,892向 TCIM Sdn Bhd 提出和解方案以清偿 RM966,892 清盘呈请项下的债务 | The parties reached an amicable settlement paid by instalments, and the winding-up petition was withdrawn on 4 October 2023.双方达成和解并分期付款，清盘呈请于 2023 年 10 月 4 日撤回。 Source: annual report 2022, page 175; annual report 2024, page 181.出处：2022 年年报第 175 页；2024 年年报第 181 页。 | Settled and petition withdrawn已和解并撤回呈请 |
| Acquire a foreign subsidiary in Indonesia (PT Indoexpress Logistics), with an RM636,000 project advance paid while pending completion计划收购印度尼西亚境外子公司（PT Indoexpress Logistics），在待完成期间支付了 RM636,000 的项目预付款 | The acquisition of 51% equity interest in PT Indoexpress Logistics was completed through subsidiary PTTIN using RM5,954,153 of RCPS.通过子公司 PTTIN 发行 RM5,954,153 的 RCPS，完成了对 PT Indoexpress Logistics 51% 股权的收购。 Source: annual report 2024, pages 78, 131, 180; annual report 2025, pages 130, 144.出处：2024 年年报第 78、131、180 页；2025 年年报第 130、144 页。 | Completed已完成 |
What the reports leave open年报留下待看的事
- The GN3 regularisation plan was due by 31 January 2026 after one extension; on 16 January 2026 the company applied for a further six months to 31 July 2026, with the outcome pending. If a plan is not submitted, approved or implemented in time, the company may face suspension of trading and possible delisting.GN3 正常化计划在获得一次延期后须于 2026 年 1 月 31 日前提交；公司于 2026 年 1 月 16 日申请再延长六个月至 2026 年 7 月 31 日，结果尚未公布。若未能及时提交、获批或执行计划，公司可能面临停牌及退市。
Source: annual report 2025, page 180.出处：2025 年年报第 180 页。
- Resolution of audit disclaimer matters including access to component auditors of Indonesian subsidiaries, voting rights attached to golden shares in Trans Infra Capital Sdn Bhd, and valuation of RM9,076,528 of goodwill.审计免责事项的解决，包括获取印尼子公司的组成部分审计师资料、Trans Infra Capital Sdn Bhd 黄金股所附投票权，以及 RM9,076,528 商誉的估值。
Source: annual report 2025, pages 56, 59.出处：2025 年年报第 56、59 页。
- Outcome of the liquidation of wholly owned subsidiary Asdion Property Management Sdn Bhd under the Insolvency Department of Malaysia following the winding-up order dated 12 August 2025.全资子公司 Asdion Property Management Sdn Bhd 在 2025 年 8 月 12 日接获清盘令后由大马破产局监管清盘的结果。
Source: annual report 2025, pages 57, 181.出处：2025 年年报第 57、181 页。
- The recoverability of RM26,719,021 in deferred expenditure for the Tumpat joint development, which auditors noted faces prolonged limited progress and termination risk.道北联合开发项目 RM26,719,021 递延支出的可收回性，审计师指出该项目长期进展有限并面临终止风险。
Source: annual report 2025, page 59.出处：2025 年年报第 59 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-28.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 2026-10-28。