DailySpaceAsia Poly Holdings Berhad
0105 · ACE Market创业板（ACE Market） · annual reports 2023 to 2025, 1601 entries read2023 至 2025 年报，共读出 1601 条
The company这家公司
Asia Poly Holdings Berhad is an investment holding company whose subsidiaries manufacture and sell cast acrylic sheets and related products, and generate renewable energy through a biogas plant.Asia Poly Holdings Berhad 是一家投资控股公司，其子公司制造并销售压克力板及相关产品，并通过沼气发电厂生产可再生能源。
Source: annual report 2024, page 174; annual report 2025, page 156.出处：2024 年年报第 174 页；2025 年年报第 156 页。
The manufacturing facility in Klang, Selangor has 3 production lines producing cast acrylic sheets. The group also holds 14 shop-office units at Asia Poly Business Park, completed with Certificate of Compliance and Completion on 17 July 2024.位于雪兰莪巴生的制造工厂设有 3 条生产线制造压克力板。集团还拥有 Asia Poly Business Park 的 14 间店铺办公室单位，该物业已于 2024 年 7 月 17 日取得完工及合格证书。
Source: annual report 2023, page 8; annual report 2024, page 161.出处：2023 年年报第 8 页；2024 年年报第 161 页。
In 2025, sales of cast acrylic products brought RM84,728,978 of revenue and sales of electricity from the biogas plant brought RM4,263,819, totaling RM88,992,797. Domestic sales in Malaysia accounted for RM28,182,021 (31.67%), followed by the United States at RM20,792,564 (23.36%), India at RM20,061,262 (22.54%), the Middle East at RM11,778,345 (13.23%), others at RM7,848,025 (8.82%), and Europe at RM330,580 (0.37%).2025 年，压克力产品销售贡献营业额 RM84,728,978，沼气电厂售电贡献 RM4,263,819，合计 RM88,992,797。马来西亚本土销售占 RM28,182,021（31.67%），其次为美国 RM20,792,564（23.36%）、印度 RM20,061,262（22.54%）、中东 RM11,778,345（13.23%）、其他地区 RM7,848,025（8.82%）及欧洲 RM330,580（0.37%）。
Source: annual report 2025, pages 27, 156, 170.出处：2025 年年报第 27、156、170 页。
Two major customers in the manufacturing segment contributed RM20,218,442 and RM17,914,636 of revenue in 2025. In the same year, amounts owing by 2 customers constituted approximately 58% of the group's trade receivables at year end.制造业部门的两大客户在 2025 年分别贡献营业额 RM20,218,442 与 RM17,914,636。同年，两家客户所欠款项占集团年底贸易应收款项的约 58%。
Source: annual report 2025, pages 170, 175.出处：2025 年年报第 170、175 页。
Executive Chairman Dato' Yeo Boon Leong held 300,339,600 shares (28.49%) at 31 December 2025, including 218,987,300 shares (20.77%) in a pledged account under Maybank Nominees and 45,976,200 shares (4.36%) under Alliancegroup Nominees. Other large holders include UOB Kay Hian Nominees with 96,300,800 shares (9.13%), a pledged account for Tan Soon Hui with 77,100,000 shares (7.31%), and Urusharta Jamaah Sdn Bhd with 50,000,000 shares (4.74%).执行主席 Dato' Yeo Boon Leong 截至 2025 年 12 月 31 日持有 300,339,600 股（28.49%），包括通过 Maybank Nominees 抵押账户持有的 218,987,300 股（20.77%）以及通过 Alliancegroup Nominees 抵押账户持有的 45,976,200 股（4.36%）。其他大股东包括持有 96,300,800 股（9.13%）的 UOB Kay Hian Nominees、持有 77,100,000 股（7.31%）的 Tan Soon Hui 抵押账户，以及持有 50,000,000 股（4.74%）的 Urusharta Jamaah Sdn Bhd。
Source: annual report 2025, pages 107, 192, 193.出处：2025 年年报第 107、192、193 页。
None of the directors or senior management have family ties with each other or with major shareholders. Huang, Yongkang, a director and major shareholder of MMA supplier Hua Su Plastic Industry Sdn. Bhd., was appointed as Non-Independent Non-Executive Director on 5 May 2025 and held 96,650,200 shares. Directors Wong Chen Feng and Kua Chye Heng resigned in 2023, while Liaw Jing Quan resigned on 29 August 2024.董事或高级管理层之间以及与主要股东之间均无亲属关系。MMA 供应商 Hua Su Plastic Industry Sdn. Bhd. 的董事兼主要股东 Huang, Yongkang 于 2025 年 5 月 5 日获委任为非独立非执行董事，持有 96,650,200 股。董事 Wong Chen Feng 与 Kua Chye Heng 于 2023 年辞任，Liaw Jing Quan 于 2024 年 8 月 29 日辞任。
Source: annual report 2023, page 82; annual report 2024, page 51; annual report 2025, pages 21, 23, 85, 107.出处：2023 年年报第 82 页；2024 年年报第 51 页；2025 年年报第 21、23、85、107 页。
Revenue by destination, 20252025 年按出口目的地划分的营业额占比
Source: annual report 2025, page 27.出处：2025 年年报第 27 页。
Major events大事记
Source: annual report 2023, page 4.出处：2023 年年报第 4 页。
Source: annual report 2023, page 17.出处：2023 年年报第 17 页。
Source: annual report 2023, page 85.出处：2023 年年报第 85 页。
Source: annual report 2024, page 54.出处：2024 年年报第 54 页。
Source: annual report 2024, page 161.出处：2024 年年报第 161 页。
Source: annual report 2024, pages 54, 84.出处：2024 年年报第 54、84 页。
Source: annual report 2024, page 48.出处：2024 年年报第 48 页。
Source: annual report 2025, page 15.出处：2025 年年报第 15 页。
Source: annual report 2025, page 110.出处：2025 年年报第 110 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Assets, borrowings and equity资产、借款与权益
20232023 年
Net cash from operating activities was RM1,272,292 in 2023. Investing activities generated RM6,522,357, including proceeds from disposal of an associate of RM12,000,000 with a gain on disposal of RM5,468,686. Financing activities used RM11,214,926, which included net repayment of bankers' acceptances of RM4,904,024 and interest paid of RM3,759,677, while share issuance brought RM15,000. An impairment loss of RM4,980,480 was recognised on property, plant and equipment from the cessation of the biogas plant project by APBG, and a winding-up petition was served against APBG on 28 December 2023.2023 年营运活动所得现金净额为 RM1,272,292。投资活动产生 RM6,522,357，其中包括出售联营公司所得款项 RM12,000,000 及出售收益 RM5,468,686。融资活动动用 RM11,214,926，包括净偿还银行承兑汇票 RM4,904,024 及已付利息 RM3,759,677，发行股票筹得 RM15,000。因 APBG 终止沼气电厂项目，集团对物业、厂房及设备确认了 RM4,980,480 的减值亏损，并于 2023 年 12 月 28 日对 APBG 提出清盘呈请。
Source: annual report 2023, pages 85, 102, 103, 104, 136; annual report 2024, page 91.出处：2023 年年报第 85、102、103、104、136 页；2024 年年报第 91 页。
20242024 年
In 2024, operating activities used net cash of RM6,217,151. Investing activities used RM7,756,186, including RM7,500,007 paid for the acquisition of a 35% equity interest in Ecogreen Monomer Sdn. Bhd., while proceeds from disposal of short-term investments were RM1,666,477 and proceeds from disposal of other investments were RM1,646,855. Financing activities brought RM4,759,559, including RM6,709,521 raised from 95,850,300 new shares issued via private placement, net drawdown of bankers' acceptances of RM5,688,291, and drawdown of term loans of RM1,168,000, offset by interest paid of RM4,031,978. The court granted a winding-up order against APBG on 7 May 2024, yielding a gain on derecognition of RM1,644,902.2024 年，营运活动动用现金净额 RM6,217,151。投资活动动用 RM7,756,186，其中包括支付 RM7,500,007 收购 Ecogreen Monomer Sdn. Bhd. 35% 股权，出售短期投资收回 RM1,666,477，出售其他投资收回 RM1,646,855。融资活动带来 RM4,759,559，包括通过私募发行 95,850,300 股新股筹集 RM6,709,521、净提取银行承兑汇票 RM5,688,291 以及提取定期贷款 RM1,168,000，已付利息为 RM4,031,978。法院于 2024 年 5 月 7 日对 APBG 发出清盘令，产生终止确认收益 RM1,644,902。
Source: annual report 2024, pages 49, 54, 71, 72, 84, 105.出处：2024 年年报第 49、54、71、72、84、105 页。
20252025 年
In 2025, operating activities generated net cash of RM6,577,395. Investing activities brought RM4,721,698, including proceeds from disposal of other investments of RM6,579,487 as the group disposed of all its quoted share investments, alongside short-term investment disposal proceeds of RM489,727. Financing activities used RM14,971,700, comprising net repayment of bankers' acceptances of RM6,599,510, repayment of term loan principal of RM4,241,496, interest paid of RM3,522,036, and repayment of hire purchase payables of RM305,372. Short-term borrowings stood at RM32,151,200 at year end, and bank overdrafts rose to RM12,441,011.2025 年，营运活动产生现金净额 RM6,577,395。投资活动带来 RM4,721,698，其中包括出售其他投资所得 RM6,579,487（集团出售了全部上市股票投资），以及出售短期投资所得 RM489,727。融资活动动用 RM14,971,700，包括净偿还银行承兑汇票 RM6,599,510、偿还定期贷款本金 RM4,241,496、已付利息 RM3,522,036 及偿还租购应付款项 RM305,372。年底短期借款为 RM32,151,200，银行透支升至 RM12,441,011。
Source: annual report 2025, pages 104, 118, 126, 127, 148, 154, 162.出处：2025 年年报第 104、118、126、127、148、154、162 页。
Across the three years三年合看
The group recorded net losses of RM11,385,418 in 2023 and RM11,223,625 in 2024, then a net profit of RM407,668 in 2025. Quoted shares under other investments were sold down from RM9,965,068 in 2023 and RM4,535,524 in 2024 to nil in 2025. No dividend was recommended or paid across the three years. Pledged fixed deposits with licensed banks stood at RM14,232,415 in 2023, RM14,537,281 in 2024, and RM14,840,326 in 2025.集团在 2023 年录得净亏损 RM11,385,418，2024 年录得净亏损 RM11,223,625，随后在 2025 年录得净利润 RM407,668。其他投资中的上市股票从 2023 年的 RM9,965,068 和 2024 年的 RM4,535,524 减持至 2025 年的零。三年间均未建议或派发股息。持牌银行抵押定期存款在 2023 年为 RM14,232,415，2024 年为 RM14,537,281，2025 年为 RM14,840,326。
Source: annual report 2023, pages 106, 129, 168; annual report 2024, pages 49, 59, 74, 111, 121; annual report 2025, pages 105, 148, 163.出处：2023 年年报第 106、129、168 页；2024 年年报第 49、59、74、111、121 页；2025 年年报第 105、148、163 页。
Still to be spent尚未支出的承诺
Capital commitments for the purchase of property, plant and equipment were RM159,150 at end 2023, RM211,430 at end 2024, and RM78,500 at end 2025. Commitments for the acquisition of a 50% equity interest in Darwell Asia Pacific Sdn. Bhd. stood at RM4,270,000 at end 2025 (2024: RM5,490,000). Approved unutilised credit facilities for working capital purposes were approximately RM17.4 million at end 2025, compared to approximately RM36 million at end 2024.购买物业、厂房及设备的资本承诺在 2023 年底为 RM159,150，2024 年底为 RM211,430，2025 年底为 RM78,500。收购 Darwell Asia Pacific Sdn. Bhd. 50% 股权的承诺在 2025 年底为 RM4,270,000（2024 年：RM5,490,000）。用于营运资金的核准未动用信贷额度在 2025 年底约为 RM17.4 million，2024 年底约为 RM36 million。
Source: annual report 2023, page 152; annual report 2024, pages 74, 120; annual report 2025, pages 129, 171.出处：2023 年年报第 152 页；2024 年年报第 74、120 页；2025 年年报第 129、171 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 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| RM令吉 | RM令吉 | RM令吉 | RM令吉 | |
| Revenue营业额 | 92,083,342 | 110,891,250 | 117,075,818 | 88,992,797 |
| Profit/(Loss) before taxation税前盈利／（亏损） | – | (10,984,075) | (10,811,131) | 762,192 |
| Profit/(Loss) after taxation税后盈利／（亏损） | – | (11,385,418) | (11,223,625) | 407,668 |
| Net cash from/(for) operating activities营运活动现金流量净额 | (15,752,825) | 1,272,292 | (6,217,151) | 6,577,395 |
| Total assets总资产 | 235,977,885 | 213,330,914 | 206,267,853 | 201,869,137 |
| Total equity总权益 | 143,082,922 | 127,649,742 | 122,068,345 | 124,519,927 |
| Short-term borrowings短期借款 | 30,452,501 | 25,489,782 | 33,500,211 | 32,151,200 |
| Cash and bank balances现金与银行结存 | 15,883,178 | 12,727,564 | 5,862,630 | 7,449,647 |
| Fixed deposits with licensed banks持牌银行定期存款 | 13,961,895 | 14,232,415 | 14,537,281 | 14,840,326 |
| Other investments其他投资 | 14,027,830 | 9,965,068 | 4,535,524 | 0 |
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 |
|---|---|---|
| Mini hydro plant operations in Pahang targeted to commence full operation by year 2027, progressing five plants totaling 35.4 MW彭亨州的小型水力发电站计划在 2027 年全面投入营运，推进 5 座合共 35.4 兆瓦的电站 | Approvals for three projects at Sungai Kerau, Sungai Kesyar and Sungai Tanglir were surrendered due to technical issues with a net refund of RM1,810,000 received; Feed-in Approval was obtained for Sungai Rengat (11.3 MW) and Sungai Perdak (6.0 MW), scheduled for commercial operation date on 25 July 2030.因技术问题放弃了位于 Sungai Kerau、Sungai Kesyar 与 Sungai Tanglir 的三项项目批准，获得 RM1,810,000 净退款；Sungai Rengat（11.3 兆瓦）与 Sungai Perdak（6.0 兆瓦）获得电力收购批准，商业营运日定于 2030 年 7 月 25 日。 Source: annual report 2023, pages 31, 51; annual report 2025, pages 15, 149.出处：2023 年年报第 31、51 页；2025 年年报第 15、149 页。 | Three projects surrendered; remaining two rescheduled to 2030放弃三项项目；余下两项推迟至 2030 年 |
| Target to achieve at least 30% female representation on the Board within three years from 25 November 2021自 2021 年 11 月 25 日起三年内实现董事会女性代表比例至少达到 30% 的目标 | The target was repeated in the 2024 and 2025 reports; at the end of 2025, one female director sat on the five-member Board, and the company noted non-adoption of the 30% practice.2024 年与 2025 年报重申该目标；截至 2025 年底，五名董事中有一名女性董事，公司说明未采纳 30% 女性董事常例。 Source: annual report 2023, page 44; annual report 2024, page 5; annual report 2025, pages 85, 91.出处：2023 年年报第 44 页；2024 年年报第 5 页；2025 年年报第 85、91 页。 | Not achieved within three years三年内未达标 |
| Developing metrics and targets for climate-related matters under TCFD to be reported in the next financial year在 TCFD 框架下制定气候相关事项的指标与目标，并在下一财政年度报告 | The 2025 report set internal energy consumption targets and reported Scope 1 emissions of 12,352.44 metric tonnes, Scope 2 emissions of 1,714.72 metric tonnes, waste, and water usage.2025 年报制定了内部能源消耗目标，并公布范围一排放量 12,352.44 公吨、范围二排放量 1,714.72 公吨、废物及用水量。 Source: annual report 2024, page 24; annual report 2025, pages 60, 79.出处：2024 年年报第 24 页；2025 年年报第 60、79 页。 | Reported in 2025 report已在 2025 年报报告 |
| Aim to identify more competent personnel to be appointed on the Board in the next 12 months计划在未来 12 个月内物色更多合格人选加入董事会 | Huang, Yongkang was appointed to the Board on 5 May 2025 as Non-Independent Non-Executive Director.Huang, Yongkang 于 2025 年 5 月 5 日获委任为非独立非执行董事。 Source: annual report 2024, page 27; annual report 2025, pages 21, 85.出处：2024 年年报第 27 页；2025 年年报第 21、85 页。 | Carried out已执行 |
| Explore niche commercial development, with sales and marketing for commercial property in Semenyih, Selangor探索利基商业开发，为雪兰莪士毛月的商业产业开展销售与行销 | The property development located in Semenyih had yet to commence commercial activities in 2024 and had yet to commence for sale as of the 2025 report.士毛月的产业开发项目在 2024 年尚未开展商业活动，截至 2025 年报仍未开始发售。 Source: annual report 2023, page 14; annual report 2024, page 11; annual report 2025, page 47.出处：2023 年年报第 14 页；2024 年年报第 11 页；2025 年年报第 47 页。 | Not yet commenced for sale尚未开始发售 |
What the reports leave open年报留下待看的事
- The Sungai Rengat (11.3 MW) and Sungai Perdak (6.0 MW) small hydro projects are scheduled for commercial operation date on 25 July 2030, with engineering design consultancy for Sungai Perdak still being finalized.Sungai Rengat（11.3 兆瓦）与 Sungai Perdak（6.0 兆瓦）小型水力发电项目定于 2030 年 7 月 25 日投入商业营运，Sungai Perdak 的工程设计顾问人选仍在最后敲定中。
Source: annual report 2025, pages 15, 16.出处：2025 年年报第 15、16 页。
- The proposed acquisition of a 50% equity interest in Darwell Asia Pacific Sdn. Bhd., a related party transaction with capital commitments of RM4,270,000 at end 2025 (2024: RM5,490,000).拟收购 Darwell Asia Pacific Sdn. Bhd. 50% 股权的关连方交易，2025 年底的资本承诺为 RM4,270,000（2024 年：RM5,490,000）。
Source: annual report 2024, page 42; annual report 2025, page 171.出处：2024 年年报第 42 页；2025 年年报第 171 页。
- Commercial property located in Semenyih, Selangor has yet to commence for sale due to slow demand in the location.位于雪兰莪士毛月的商业产业因当地需求缓慢，截至年报日期仍未开始发售。
Source: annual report 2024, page 11; annual report 2025, page 47.出处：2024 年年报第 11 页；2025 年年报第 47 页。
- Bank overdrafts rose from RM7,190,512 at end 2024 to RM12,441,011 at end 2025, while approved unutilised credit facilities for working capital decreased from approximately RM36 million to approximately RM17.4 million.银行透支由 2024 年底的 RM7,190,512 增至 2025 年底的 RM12,441,011，而核准未使用的营运资金信贷额度从约 RM36 million 降至约 RM17.4 million。
Source: annual report 2024, page 74; annual report 2025, pages 104, 129.出处：2024 年年报第 74 页；2025 年年报第 104、129 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。