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

Propel Global Berhad

0091 · Main Market主板(Main Market) · annual reports 2023 to 2025, 1827 entries read2023 至 2025 年报,共读出 1827 条

Revenue, 20252025 年营业额RM111.1m1.11亿令吉down 36.9% from比 2024 年减少 36.9%,当年为 RM176.0m1.76亿令吉 in 2024
Profit/(Loss) after taxation, 20252025 年税后盈利/(亏损)–RM23.9m–2.39千万令吉2024:2024 年: RM6.00m600万令吉
Total borrowings, 20252025 年借款总额RM29.6m2.96千万令吉up 94.2% from比 2024 年增加 94.2%,当年为 RM15.2m1.52千万令吉 in 2024
Net cash from/(used in) operating activities, 20252025 年营运活动所得/(所用)现金净额–RM28.7m–2.87千万令吉2024:2024 年: RM2.50m250万令吉

The company这家公司

Propel Global Berhad took over the listing status of Daya Materials Berhad on 28 April 2022 on the Main Market of Bursa Malaysia. In 2025, the Oil and Gas segment contributed 70.59% of revenue (RM78.40 million), Technical Services contributed 20.56% (RM22.83 million), and ICT contributed 8.66% (RM9.62 million).Propel Global Berhad 于 2022 年 4 月 28 日接替 Daya Materials Berhad 在马来西亚交易所主板的上市地位。2025 年,石油与天然气部门占营业额 70.59%(RM78.40 million),技术服务部门占 20.56%(RM22.83 million),资讯与通信技术部门占 8.66%(RM9.62 million)。

Source: annual report 2023, page 18; annual report 2025, pages 28, 29, 30.出处:2023 年年报第 18 页;2025 年年报第 28、29、30 页。

In 2025, Malaysia contributed RM97.074 million of group revenue, while other countries contributed RM13.983 million. Customer C in the oil and gas segment contributed RM23.862 million.2025 年,马来西亚市场贡献集团营业额 RM97.074 million,其他国家贡献 RM13.983 million。石油与天然气部门的客户 C 贡献了 RM23.862 million 营业额。

Source: annual report 2025, page 215.出处:2025 年年报第 215 页。

In the 2025 report, Perfect Propel Sdn Bhd held 115,249,279 shares (17.05%), Siem Offshore Rederi AS held 75,533,460 shares (11.18%), WK Propel Sdn Bhd held 46,537,000 shares (6.89%), and Export-Import Bank of Malaysia Berhad held 45,552,202 shares (6.74%). The report states that none of the directors has any family relationship with any director or major shareholder.在 2025 年报中,Perfect Propel Sdn Bhd 持有 115,249,279 股(17.05%),Siem Offshore Rederi AS 持有 75,533,460 股(11.18%),WK Propel Sdn Bhd 持有 46,537,000 股(6.89%),Export-Import Bank of Malaysia Berhad 持有 45,552,202 股(6.74%)。年报说明董事之间以及与主要股东之间均无亲属关系。

Source: annual report 2025, pages 15, 230.出处:2025 年年报第 15、230 页。

Encik Reza was appointed to the board on 1 July 2022 as an Independent Non-Executive Director, redesignated as Group Managing Director on 7 October 2022, and appointed as Executive Chairman on 9 January 2023. Ms Lee was appointed as Group Chief Executive Officer on 28 April 2022. On 18 December 2024, Rewi Hamid Bugo was appointed as a Non-Independent Non-Executive Director.Encik Reza 于 2022 年 7 月 1 日获委任为独立非执行董事,2022 年 10 月 7 日转任集团董事总经理,2023 年 1 月 9 日进一步获委任为执行主席。Ms Lee 于 2022 年 4 月 28 日获委任为集团首席执行员。2024 年 12 月 18 日,Rewi Hamid Bugo 获委任为非独立非执行董事。

Source: annual report 2023, pages 12, 17; annual report 2025, page 112.出处:2023 年年报第 12、17 页;2025 年年报第 112 页。

Revenue by segment, 2025 (RM'000)2025 年各部门营业额(千令吉)

Oil and gas: 70.6%Technical services: 20.6%ICT: 8.7%Others: 0.2%
Oil and gas 70.6%石油与天然气 70.6%Technical services 20.6%技术服务 20.6%ICT 8.7%资讯与通信技术 8.7%Others 0.2%其他 0.2%

Source: annual report 2025, page 211.出处:2025 年年报第 211 页。

Major events大事记

2022Propel Global Berhad took over the listing status of Daya Materials Berhad on 28 April 2022 on the Main Market.Propel Global Berhad 于 2022 年 4 月 28 日在主板接替 Daya Materials Berhad 的上市地位。

Source: annual report 2023, page 18.出处:2023 年年报第 18 页。

2022The regularisation plan was completed on 7 October 2022.重组计划于 2022 年 10 月 7 日完成。

Source: annual report 2023, page 24.出处:2023 年年报第 24 页。

2023Acquisition of a 51% stake in Best Wide Engineering (M) Sdn. Bhd. for RM7,820,000 was completed on 6 January 2023.以 RM7,820,000 收购 Best Wide Engineering (M) Sdn. Bhd. 51% 股权于 2023 年 1 月 6 日完成。

Source: annual report 2023, pages 40, 148.出处:2023 年年报第 40、148 页。

2023Five properties in Solaris Dutamas were sold for RM4.83 million on 18 April 2023.位于 Solaris Dutamas 的五处房产于 2023 年 4 月 18 日以 RM4.83 million 出售。

Source: annual report 2023, page 22.出处:2023 年年报第 22 页。

2023Bursa Securities uplifted the PN17 classification on 31 May 2023.马来西亚交易所于 2023 年 5 月 31 日解除 PN17 列示。

Source: annual report 2023, page 21.出处:2023 年年报第 21 页。

2023Disposal of the 55% stake in Propel Chemicals Sdn. Bhd. was completed on 3 November 2023 for RM16,500,000 cash.以 RM16,500,000 现金代价脱售 Propel Chemicals Sdn. Bhd. 55% 股权于 2023 年 11 月 3 日完成。

Source: annual report 2024, pages 41, 156.出处:2024 年年报第 41、156 页。

2023Acquisition of 100% of E-Maintenance Sdn. Bhd. for RM20.0 million was completed on 16 November 2023.以 RM20.0 million 收购 E-Maintenance Sdn. Bhd. 100% 股权于 2023 年 11 月 16 日完成。

Source: annual report 2024, pages 24, 41.出处:2024 年年报第 24、41 页。

2024On 27 September 2024, an agreement was entered to acquire an additional 39% stake in Best Wide Engineering (M) Sdn. Bhd. for RM6,186,197, completed on 14 October 2024.2024 年 9 月 27 日,签署协议以 RM6,186,197 收购 Best Wide Engineering (M) Sdn. Bhd. 额外 39% 股权,于 2024 年 10 月 14 日完成。

Source: annual report 2024, page 211.出处:2024 年年报第 211 页。

2025A 30% equity interest in Propel Maxflo Sdn. Bhd. was disposed of on 23 March 2025 for RM7,390,000.2025 年 3 月 23 日,以 RM7,390,000 脱售 Propel Maxflo Sdn. Bhd. 的 30% 股权。

Source: annual report 2025, page 172.出处:2025 年年报第 172 页。

Revenue, profit and operating cash营业额、盈利与营运现金

Revenue营业额
2022
RM77.6m7.76千万令吉
2023
RM112.3m1.12亿令吉
2024
RM176.0m1.76亿令吉
2025
RM111.1m1.11亿令吉
Profit/(Loss) after taxation税后盈利/(亏损)
2022
RM455.6m4.56亿令吉
2023
RM8.01m801万令吉
2024
RM6.00m600万令吉
2025
–RM23.9m–2.39千万令吉
Net cash from/(used in) operating activities营运活动所得/(所用)现金净额
2022
–RM14.3m–1.43千万令吉
2023
–RM25.7m–2.57千万令吉
2024
RM2.50m250万令吉
2025
–RM28.7m–2.87千万令吉

Assets, borrowings and equity资产、借款与权益

Total assets总资产
2022
RM171.5m1.72亿令吉
2023
RM192.6m1.93亿令吉
2024
RM206.9m2.07亿令吉
2025
RM185.1m1.85亿令吉
Total borrowings借款总额
2022
RM37.2m3.72千万令吉
2023
RM29.0m2.90千万令吉
2024
RM15.2m1.52千万令吉
2025
RM29.6m2.96千万令吉
Total equity总权益
2022
RM75.1m7.51千万令吉
2023
RM90.1m9.01千万令吉
2024
RM107.0m1.07亿令吉
2025
RM96.5m9.65千万令吉

20232023 年

Net cash used in operating activities was RM25.68 million. The group acquired a 51% stake in Best Wide Engineering (M) Sdn. Bhd. for cash consideration of RM7,820,000, and net cash outflow from the acquisition of the subsidiary was RM4.2 million. Five properties in Solaris Dutamas were sold for RM4.83 million to settle the remainder of an Al-Rajhi term loan of RM4.78 million. Term loan repayments were RM6.7 million and revolving credit repayments were RM1.9 million. No dividend has been proposed or declared for FYE2023.营运活动所用现金净额为 RM25.68 million。集团以 RM7,820,000 现金代价收购 Best Wide Engineering (M) Sdn. Bhd. 的 51% 股权,收购子公司的净现金流出为 RM4.2 million。位于 Solaris Dutamas 的五处房产以 RM4.83 million 出售,用于偿还欠 Al-Rajhi 定期贷款余下的 RM4.78 million。偿还定期贷款 RM6.7 million,偿还循环信贷 RM1.9 million。2023 财政年度未建议或宣布派发股息。

Source: annual report 2023, pages 22, 26, 97, 148, 149.出处:2023 年年报第 22、26、97、148、149 页。

20242024 年

Operating activities generated net cash of RM2.50 million. The company raised RM9.37 million through the issuance of 60.43 million new shares at RM0.155 per share. The group acquired E-Maintenance Sdn. Bhd. for RM20.0 million in cash and 75% of MTSB for RM2,100,000, and net cash outflow from acquisition of subsidiaries was RM21.3 million. It disposed of its 55% stake in Propel Chemicals Sdn. Bhd. for cash consideration of RM16,500,000 and a debt waiver of RM9,746,000, and net cash inflows from the disposal were RM15.3 million. Proceeds from disposal of assets held for sale were RM7.8 million. Revolving credit repayments were RM9.7 million and term loan repayments were RM1.6 million. No dividend has been proposed or declared for FYE2024.营运活动产生现金净额 RM2.50 million。公司通过以每股 RM0.155 发行 60.43 million 股新股筹集 RM9.37 million。集团以 RM20.0 million 现金收购 E-Maintenance Sdn. Bhd.,并以 RM2,100,000 收购 MTSB 的 75% 股权,收购子公司的净现金流出为 RM21.3 million。集团以 RM16,500,000 现金代价及免除债务 RM9,746,000 脱售 Propel Chemicals Sdn. Bhd. 的 55% 股权,脱售净现金流入为 RM15.3 million。脱售持作待售资产所得款项为 RM7.8 million。偿还循环信贷 RM9.7 million,偿还定期贷款 RM1.6 million。2024 财政年度未建议或宣布派发股息。

Source: annual report 2024, pages 24, 28, 29, 120, 121, 153, 154, 156.出处:2024 年年报第 24、28、29、120、121、153、154、156 页。

20252025 年

Operating activities used net cash of RM28.73 million, and trade and other payables decreased by RM25.23 million. A private placement raised approximately RM6.02 million. An additional 39% stake in BWESB was acquired for cash consideration of RM6,186,197, and the group subscribed to 23.46 million shares (6.5%) of Reservoir Link Energy Berhad. Net changes on other investments were RM9.1 million. Proceeds from disposal of interest in a subsidiary were RM7,390,000, and proceeds from disposal of assets held for sale were RM3.0 million. Net proceeds from term loans were RM8.2 million, and net proceeds from margin financing were RM4.0 million. Cash and cash equivalents decreased to RM3.88 million. No dividend has been proposed or declared for FYE2025.营运活动所用现金净额为 RM28.73 million,贸易及其他应付款项减少 RM25.23 million。私下配售筹集约 RM6.02 million。集团以 RM6,186,197 现金代价收购 BWESB 额外 39% 股权,并认购 Reservoir Link Energy Berhad 的 23.46 million 股(6.5%)。其他投资净变动为 RM9.1 million。脱售一家子公司权益的所得款项为 RM7,390,000,脱售持作待售资产的所得款项为 RM3.0 million。定期贷款净所得为 RM8.2 million,保证金融资净所得为 RM4.0 million。现金及现金等价物降至 RM3.88 million。2025 财政年度未建议或宣布派发股息。

Source: annual report 2025, pages 27, 32, 136, 137, 166, 172.出处:2025 年年报第 27、32、136、137、166、172 页。

Across the three years三年合看

Operating cash flows were negative in two of the three financial years, with net cash used of RM25.68 million in 2023 and RM28.73 million in 2025 against net cash generated of RM2.50 million in 2024. Cash and cash equivalents decreased from RM22.60 million at 30 June 2023 to RM16.97 million at 30 June 2024 and RM3.88 million at 30 June 2025. Total borrowings moved from RM29.01 million in 2023 to RM15.24 million in 2024 and RM29.59 million in 2025. No dividends were proposed or declared across all three reports.营运活动现金流在三个财政年度中有两个年度为负数,2023 年净使用 RM25.68 million,2025 年净使用 RM28.73 million,2024 年则净产生 RM2.50 million。现金及现金等价物由 2023 年 6 月 30 日的 RM22.60 million 降至 2024 年 6 月 30 日的 RM16.97 million,再降至 2025 年 6 月 30 日的 RM3.88 million。借款总额由 2023 年的 RM29.01 million 变动至 2024 年的 RM15.24 million 及 2025 年的 RM29.59 million。三份年报均未建议或宣布派发股息。

Source: annual report 2023, pages 25, 26; annual report 2024, pages 28, 29; annual report 2025, pages 31, 32.出处:2023 年年报第 25、26 页;2024 年年报第 28、29 页;2025 年年报第 31、32 页。

Still to be spent尚未支出的承诺

Capital commitments authorised and contracted for the acquisition of a subsidiary were RM18.0 million at end 2023, RM0.1 million at end 2024, and RMNil at end 2025. Under a private placement proposed in July 2025, 3,500,000 shares were issued on 5 August 2025 for RM315,000, which remained unutilised. In addition, RM2,300,000 was held in non-trade payables as the balance purchase price for EMSB.已授权并签约的收购子公司资本承诺在 2023 年底为 RM18.0 million,2024 年底为 RM0.1 million,2025 年底为 RMNil。2025 年 7 月建议的私下配售中,公司于 2025 年 8 月 5 日发行 3,500,000 股,筹得 RM315,000,尚未动用。此外,非贸易应付款项中仍有 RM2,300,000 列作 EMSB 的收购余款。

Source: annual report 2023, page 183; annual report 2024, page 188; annual report 2025, pages 196, 208, 229, 234.出处:2023 年年报第 183 页;2024 年年报第 188 页;2025 年年报第 196、208、229、234 页。

Four years of figures四年数字

Group figures, in RM thousand (×1,000), as printed in the statements.集团数字,单位千令吉(×1,000),照财务报表所印。

Group集团2022202320242025
RM'000千令吉RM'000千令吉RM'000千令吉RM'000千令吉
Revenue营业额77,625112,257176,036111,057
Profit/(Loss) before taxation税前盈利/(亏损)66,66110,0547,218(21,749)
Profit/(Loss) after taxation税后盈利/(亏损)455,6368,0105,996(23,866)
Net cash from/(used in) operating activities营运活动所得/(所用)现金净额(14,260)(25,679)2,497(28,734)
Total borrowings借款总额37,23729,00515,23729,591
Cash and bank balances现金与银行结余17,24915,55916,9665,789
Fixed deposits with licensed banks持牌银行定期存款48,10322,48312,4347,822
Total assets总资产171,532192,595206,889185,074
Total liabilities总负债96,393102,50999,88988,525
Total equity总权益75,13990,086107,00096,549

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
Proposed private placement of up to approximately 60.44 million new ordinary shares at RM0.155 per share to raise RM9.67 million (2023)建议以每股 RM0.155 私下配售至多约 60.44 million 股新普通股筹集 RM9.67 million(2023)The company completed the private placement by issuing 60.43 million shares at RM0.155 per share, raising RM9.37 million.公司通过以每股 RM0.155 发行 60.43 million 股完成私下配售,筹集 RM9.37 million。

Source: annual report 2023, page 21; annual report 2024, page 24.出处:2023 年年报第 21 页;2024 年年报第 24 页。

Carried out已执行
Conditional agreement to acquire 100% equity interest in E-Maintenance Sdn Bhd for cash consideration of RM20.0 million (2023)签署有条件协议以 RM20.0 million 现金代价收购 E-Maintenance Sdn Bhd 全部股权(2023)The acquisition of 100% of E-Maintenance Sdn. Bhd. was completed on 16 November 2023 for RM20.0 million in cash.以 RM20.0 million 现金收购 E-Maintenance Sdn. Bhd. 100% 股权于 2023 年 11 月 16 日完成。

Source: annual report 2023, page 21; annual report 2024, pages 24, 41.出处:2023 年年报第 21 页;2024 年年报第 24、41 页。

Completed已完成
Term sheet entered for the proposed disposal of the 55% stake in Propel Chemicals Sdn Bhd (2023)就建议脱售 Propel Chemicals Sdn Bhd 55% 股权签署条款清单(2023)The 2024 report records the disposal of the entire 55% investment in PCSB on 3 November 2023 for RM16,500,000 in cash and a RM9,746,000 debt waiver. The 2023 report had described the disposal as finalised on 27 October 2023 for RM9.07 million in cash.2024 年报记载,公司于 2023 年 11 月 3 日脱售 PCSB 全部 55% 股权,代价为现金 RM16,500,000 及免除债务 RM9,746,000。2023 年报则说该脱售于 2023 年 10 月 27 日敲定,现金代价为 RM9.07 million。

Source: annual report 2023, page 22; annual report 2024, pages 41, 156.出处:2023 年年报第 22 页;2024 年年报第 41、156 页。

Completed已完成
Proposed private placement of up to 67,585,234 new shares to raise funds, including RM5.1 million for the acquisition of BWE (2024)建议私下配售至多 67,585,234 股新股筹资,包括用于收购 BWE 的 RM5.1 million(2024)The private placement was completed raising approximately RM6.02 million, with RM5.1 million allocated and utilised for business expansion plans.私下配售完成并筹集约 RM6.02 million,其中 RM5.1 million 已分配并用于业务扩张计划。

Source: annual report 2024, pages 211, 215; annual report 2025, pages 27, 233.出处:2024 年年报第 211、215 页;2025 年年报第 27、233 页。

Carried out已执行
Employee training target of 8 hours per employee (2024)每名员工培训 8 小时的目标(2024)In 2025 the group provided an average of 9.5 hours of training per employee.2025 年集团每名员工平均提供 9.5 小时培训。

Source: annual report 2024, page 50; annual report 2025, page 64.出处:2024 年年报第 50 页;2025 年年报第 64 页。

Target met达成目标

What the reports leave open年报留下待看的事

  • On 7 October 2025, POSSB entered into a conditional share sale agreement for the proposed disposal of the remaining 70% equity interest in PMSB for RM17,240,000.2025 年 10 月 7 日,POSSB 签署有条件股份买卖协议,建议以 RM17,240,000 脱售 PMSB 剩余 70% 股权。

    Source: annual report 2025, page 229.出处:2025 年年报第 229 页。

  • On 10 July 2025 and 11 July 2025, the company proposed a private placement of up to 73,024,156 new shares at RM0.09 per share, with 3,500,000 shares issued on 5 August 2025 raising RM315,000.2025 年 7 月 10 日及 11 日,公司建议以每股 RM0.09 私下配售至多 73,024,156 股新股,其中 3,500,000 股于 2025 年 8 月 5 日发行筹得 RM315,000。

    Source: annual report 2025, pages 229, 234.出处:2025 年年报第 229、234 页。

  • Technical Services segment revenue fell to RM22.83 million in 2025 with a segment loss before tax of RM15.71 million.技术服务部门营业额在 2025 年降至 RM22.83 million,分部税前亏损为 RM15.71 million。

    Source: annual report 2025, pages 28, 212.出处:2025 年年报第 28、212 页。

  • Unabsorbed business losses for which no deferred tax asset was recognised stood at RM56.1 million for the group and RM18.1 million for the company.集团未确认递延税项资产的未吸收营业亏损为 RM56.1 million,公司为 RM18.1 million。

    Source: annual report 2025, page 181.出处:2025 年年报第 181 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。