DailySpaceFrontken Corporation Berhad
0128 · Main Market主板（Main Market） · annual reports 2023 to 2025, 1451 entries read2023 至 2025 年报，共读出 1451 条
The company这家公司
Frontken provides engineering services. Its semiconductor work includes surface treatment and advanced precision cleaning of components used in manufacturing equipment. Ares Green Technology Corporation (AGTC) serves the semiconductor and TFT-LCD industries in Taiwan. Other engineering work includes turbine and generator overhauls, valve servicing and precision machining.Frontken 提供工程服务。其半导体业务包括对制造设备所用零部件进行表面处理与先进精密清洗。Ares Green Technology Corporation（AGTC）在台湾服务半导体与 TFT-LCD 行业。其他工程业务包括涡轮机与发电机大修、阀门维修及精密加工。
Source: annual report 2024, page 76; annual report 2025, pages 15, 113.出处：2024 年年报第 76 页；2025 年年报第 15、113 页。
In 2025, Taiwan contributed 74% of group revenue, Malaysia 14%, Singapore 9% and other locations 3%. The report records RM569.8 million from services and RM38.0 million from goods.2025 年，台湾占集团营业额 74%，马来西亚占 14%，新加坡占 9%，其他地区占 3%。年报记录的服务收入为 RM569.8 million，商品销售收入为 RM38.0 million。
Source: annual report 2025, pages 17, 98.出处：2025 年年报第 17、98 页。
Two customers in Taiwan contributed RM220.4 million and RM97.9 million of revenue in 2025. Their corresponding contributions in 2024 were RM200.1 million and RM70.1 million.2025 年，两名台湾客户分别贡献 RM220.4 million 与 RM97.9 million 营业额。2024 年的相应贡献分别为 RM200.1 million 与 RM70.1 million。
Source: annual report 2025, page 98.出处：2025 年年报第 98 页。
The shareholding analysis in the 2025 report lists Employees Provident Fund Board with 260,762,014 shares, or 15.8%, and Dazzle Clean Ltd with 180,337,209 shares, or 10.9%. The 2023 report's largest-shareholder list also included Public Nominees (Tempatan) Sdn Bhd Pledged Securities Account For Ooi Keng Thye (E-PPG), holding 11,544,000 shares, or 0.73%.2025 年报的股权分析列出 Employees Provident Fund Board 持有 260,762,014 股，占 15.8%；Dazzle Clean Ltd 持有 180,337,209 股，占 10.9%。2023 年报的最大股东名单也列有 Public Nominees (Tempatan) Sdn Bhd Pledged Securities Account For Ooi Keng Thye (E-PPG)，该账户持有 11,544,000 股，占 0.73%。
Source: annual report 2023, page 169; annual report 2025, page 153.出处：2023 年年报第 169 页；2025 年年报第 153 页。
Ng Wai Pin holds both the Board Chairman and Chief Executive Officer roles. YM Raja Jastina Adlina Binti Raja Arshad joined the Board on 15 August 2023 as an Independent Non-Executive Director. George Lagos, President of Frontken Philippines, died in November 2024.Ng Wai Pin 同时担任董事会主席与首席执行员。YM Raja Jastina Adlina Binti Raja Arshad 于 2023 年 8 月 15 日加入董事会，担任独立非执行董事。Frontken Philippines 总裁 George Lagos 于 2024 年 11 月去世。
Source: annual report 2023, pages 18, 23; annual report 2024, page 17; annual report 2025, page 53.出处：2023 年年报第 18、23 页；2024 年年报第 17 页；2025 年年报第 53 页。
Revenue by location, 20252025 年各地区营业额
Source: annual report 2025, page 94.出处：2025 年年报第 94 页。
Major events大事记
Source: annual report 2023, page 17.出处：2023 年年报第 17 页。
Source: annual report 2023, page 122.出处：2023 年年报第 122 页。
Source: annual report 2023, pages 18, 23.出处：2023 年年报第 18、23 页。
Source: annual report 2023, page 74.出处：2023 年年报第 74 页。
Source: annual report 2024, page 15.出处：2024 年年报第 15 页。
Source: annual report 2024, page 17.出处：2024 年年报第 17 页。
Source: annual report 2025, page 14.出处：2025 年年报第 14 页。
Source: annual report 2025, pages 113, 115.出处：2025 年年报第 113、115 页。
Source: annual report 2025, page 122.出处：2025 年年报第 122 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Cash balances and short-term investments现金结余与短期投资
Assets and equity资产与权益
20232023 年
Operations generated RM144.0 million. Cash spending on property, plant and equipment was RM15.1 million. The group repaid RM20.9 million of bank borrowing and RM3.2 million of lease liabilities, while the Company paid RM40.8 million in dividends. A further 0.03% interest in AGTC cost RM279,113.营运活动产生 RM144.0 million 现金。购买产业、厂房与设备的现金支出为 RM15.1 million。集团偿还银行借款 RM20.9 million 与租赁负债 RM3.2 million，公司则支付股息 RM40.8 million。增购 AGTC 的 0.03% 股权花费 RM279,113。
Source: annual report 2023, pages 91, 122.出处：2023 年年报第 91、122 页。
20242024 年
Operations generated RM166.6 million. Cash spending on property, plant and equipment was RM24.8 million, and the Company paid RM61.5 million in dividends. Share issues brought in RM37.2 million, with another RM16.1 million received from warrant holders. Lease repayments were RM3.2 million. FSPL acquired a further 5% of PTFI for RM47,654 in June.营运活动产生 RM166.6 million 现金。购买产业、厂房与设备的现金支出为 RM24.8 million，公司支付股息 RM61.5 million。发行股份带来 RM37.2 million，另收到认股权证持有人缴付的 RM16.1 million。偿还租赁负债为 RM3.2 million。FSPL 于 6 月以 RM47,654 增购 PTFI 的 5% 股权。
Source: annual report 2024, pages 69, 99.出处：2024 年年报第 69、99 页。
20252025 年
Operations generated RM202.9 million. Cash spending included RM248.9 million on short-term investments, RM42.7 million on property, plant and equipment and RM13.3 million to acquire a further 0.86% of AGTC. Share issues brought in RM278.0 million. The Company paid RM63.6 million in dividends and RM5.9 million to buy back shares; treasury-share sales brought in RM66,047. Bank borrowings drawn were RM3.5 million and repayments were RM3.5 million. Lease repayments were RM3.2 million.营运活动产生 RM202.9 million 现金。现金支出包括购买短期投资 RM248.9 million、购买产业、厂房与设备 RM42.7 million，以及以 RM13.3 million 增购 AGTC 的 0.86% 股权。发行股份带来 RM278.0 million。公司支付股息 RM63.6 million，并花费 RM5.9 million 回购股份；出售库存股带来 RM66,047。提取银行借款与偿还银行借款均为 RM3.5 million。偿还租赁负债为 RM3.2 million。
Source: annual report 2025, pages 87, 115.出处：2025 年年报第 87、115 页。
Across the years历年合看
Operating cash rose from RM144.0 million in 2023 to RM166.6 million in 2024 and RM202.9 million in 2025. Cash and bank balances were RM366.2 million at the end of 2025. Short-term investments were RM293.5 million, including RM285.5 million in unit trusts. Fixed deposits were a separate RM181.5 million. Bank borrowing stood at RM14,763, alongside RM28.9 million of lease liabilities.营运现金由 2023 年的 RM144.0 million 升至 2024 年的 RM166.6 million，再升至 2025 年的 RM202.9 million。2025 年底，现金与银行结余为 RM366.2 million。短期投资为 RM293.5 million，其中单位信托为 RM285.5 million。另有定期存款 RM181.5 million。银行借款为 RM14,763，另有租赁负债 RM28.9 million。
Source: annual report 2025, pages 121, 122, 124.出处：2025 年年报第 121、122、124 页。
Still to be spent尚未支出的承诺
The 2025 report lists RM7.7 million of capital commitments for property, plant and equipment. AGTC plans to move flat panel display cleaning from Plant 1 to Plant 3 and is evaluating additional land. Planned investments for 2026 also include improvements to service centres and a new service centre in East Malaysia.2025 年报列出购买产业、厂房与设备的资本承诺 RM7.7 million。AGTC 计划把平板显示器清洗业务从 Plant 1 搬至 Plant 3，并正在评估增购土地。2026 年的投资计划也包括改善服务中心，以及在东马设立新的服务中心。
Source: annual report 2025, pages 14, 15, 146.出处：2025 年年报第 14、15、146 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 | 517,182,574 | 500,149,397 | 569,204,591 | 607,759,744 |
| Profit before tax税前盈利 | 174,790,489 | 167,066,248 | 198,429,739 | 223,736,502 |
| Profit after tax税后盈利 | 135,167,541 | 124,339,100 | 151,081,468 | 168,508,443 |
| Net cash from operating activities营运活动所得现金净额 | – | 143,998,837 | 166,625,990 | 202,909,451 |
| Purchase of property, plant and equipment购买产业、厂房与设备 | (52,660,343) | (15,144,018) | (24,805,913) | (42,734,553) |
| Dividend paid by the Company公司已付股息 | (64,409,007) | (40,844,736) | (61,500,453) | (63,576,010) |
| Total assets总资产 | – | 885,424,745 | 988,543,348 | 1,301,664,141 |
| Bank borrowing银行借款 | 19,719,600 | 81,703 | 49,047 | 14,763 |
| Cash and bank balances现金与银行结余 | 317,358,590 | 316,172,678 | 353,195,737 | 366,154,528 |
| Fixed deposits with licensed banks持牌银行定期存款 | 13,161,038 | 70,840,138 | 123,252,173 | 181,482,529 |
| Short-term investments短期投资 | – | 32,647,658 | 42,143,647 | 293,489,373 |
| Total equity总权益 | – | 687,902,158 | 772,907,603 | 1,089,987,146 |
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 2023 report said customers had agreed to a price realignment that would take place in 2024.2023 年报表示，客户已同意将在 2024 年实施的价格调整。 | The 2024 report says a price adjustment exercise was implemented during the year in the Singapore semiconductor division.2024 年报表示，新加坡半导体部门已在年内实施价格调整。 Source: annual report 2023, page 15; annual report 2024, page 15.出处：2023 年年报第 15 页；2024 年年报第 15 页。 | Implemented已实施 |
| The 2023 report expected business to pick up gradually from the second half of 2024, based on customer feedback about new fabs in Singapore.2023 年报根据客户对新加坡新晶圆厂的反馈，预计业务将从 2024 年下半年逐步回升。 | The 2024 report records low double-digit growth in the Singapore semiconductor division and a gradual recovery in customer demand. It does not specify when the recovery began.2024 年报记录新加坡半导体部门取得低双位数增长，客户需求逐步恢复，但没有说明恢复从何时开始。 Source: annual report 2023, page 15; annual report 2024, page 15.出处：2023 年年报第 15 页；2024 年年报第 15 页。 | Growth reported; timing not specified已报告增长；未说明开始时间 |
| The 2024 report expected TTES to maintain its momentum through 2025, with projects from existing clients.2024 年报预计，凭借现有客户的项目，TTES 将在 2025 年延续业务势头。 | The 2025 report says TTES revenue and profitability fell, primarily because several major project deliveries were deferred to 2026.2025 年报表示，TTES 的营业额与盈利下降，主要因为几个大型项目延至 2026 年交付。 Source: annual report 2024, page 16; annual report 2025, page 15.出处：2024 年年报第 16 页；2025 年年报第 15 页。 | Revenue and profitability fell营业额与盈利下降 |
| The 2024 report said management was planning the proposed new Plant 3 facility.2024 年报表示，管理层正在规划拟议中的 Plant 3 新设施。 | The 2025 report says a facility for Plant 3 had been acquired. Moving flat panel display cleaning from Plant 1 remained a plan.2025 年报表示，已购入用于 Plant 3 的设施。把平板显示器清洗业务从 Plant 1 搬迁过去仍属于计划。 Source: annual report 2024, page 15; annual report 2025, page 14.出处：2024 年年报第 15 页；2025 年年报第 14 页。 | Facility acquired; relocation planned已购入设施；搬迁仍在计划中 |
| The 2023 report said exiting the Indonesian operation was still work in progress.2023 年报表示，退出印尼业务的工作仍在进行。 | The 2024 report records FSPL acquiring the remaining 5% of PTFI. The 2025 report still lists a PT Frontken Indonesia factory. Neither report says the exit was completed.2024 年报记录 FSPL 增购 PTFI 余下的 5% 股权。2025 年报仍列有 PT Frontken Indonesia 的厂房。两份年报都没有说退出工作已经完成。 Source: annual report 2023, page 11; annual report 2024, page 99; annual report 2025, page 152.出处：2023 年年报第 11 页；2024 年年报第 99 页；2025 年年报第 152 页。 | Exit not confirmed尚未确认已退出 |
What the reports leave open年报留下待看的事
- Plant 2 had installed new cleaning lines for a specialised tool platform. Qualification and production ramp-up were expected around the second and third quarters of 2026.Plant 2 已为一种专用设备平台安装新的清洗生产线。资格认证与增产预计在 2026 年第二及第三季度前后进行。
Source: annual report 2025, page 14.出处：2025 年年报第 14 页。
- The move of flat panel display cleaning to Plant 3 and the evaluation of additional land remain open in the latest report.最新年报中，把平板显示器清洗业务搬至 Plant 3，以及评估增购土地的工作仍未结束。
Source: annual report 2025, page 14.出处：2025 年年报第 14 页。
- TTES had deferred major project deliveries to 2026. The report also planned a new service centre in East Malaysia for 2026.TTES 已把大型项目交付延至 2026 年。年报也计划于 2026 年在东马设立新的服务中心。
Source: annual report 2025, page 15.出处：2025 年年报第 15 页。
- Third-party assurance of the greenhouse-gas inventory had not yet been obtained. Independent assurance was planned for 2026.温室气体盘查尚未取得第三方鉴证。独立鉴证计划于 2026 年进行。
Source: annual report 2025, page 47.出处：2025 年年报第 47 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。