DailySpaceBioalpha Holdings Berhad
0179 · ACE Market创业板（ACE Market） · annual reports 2023 to 2025, 491 entries read2023 至 2025 年报，共读出 491 条
The company这家公司
Bioalpha Holdings Berhad is an investment holding company whose subsidiaries are involved in the manufacturing and sale of health supplement products, with all health supplement products Halal-certified. It operates herbal parks in Pasir Raja, Terengganu and Desaru, Johor, and manufacturing facilities in Bangi and Semenyih, Selangor.Bioalpha Holdings Berhad 是一家投资控股公司，其子公司主要从事保健补充品的制造与销售，所有保健补充品均获得清真认证。集团在登嘉楼 Pasir Raja 和柔佛 Desaru 经营草药园，并在雪兰莪 Bangi 和 Semenyih 设有生产设施。
Sources (6)出处（6）
All of Bioalpha’s health supplement products are Halal-certified and are sold in Malaysia with Indonesia and China as main export markets.
Bioalpha Holdings Berhad (“Bioalpha” or “the Company”) is an investment holding company with its subsidiaries (“the Group”) principally involved in manufacturing and sale of health supplement products.
Bioalpha operates two herbal parks, one in Pasir Raja, Terengganu, while the other in Desaru, Johor.
Presently, we operate two manufacturing facilities with our main plant located in Bangi, Selangor and our second plant in Semenyih, Selangor.
Bioalpha manages two herbal parks located in Pasir Raja, Terengganu and Desaru, Johor, respectively.
We have two production facilities located in Bangi and Semenyih, Selangor, respectively.
In 2024, trading accounted for 61.8% of revenue, retail pharmacy 22.9%, manufacturing 14.6% and others 0.7%. The group exited the retail pharmacy business with the disposal completed in January 2025, and supply of health food products to China ceased following contract expiry in late 2024. For 2025, manufacturing was the sole operating segment, bringing RM11.5 million in revenue, with 95.6% derived locally and the balance from China and other countries. In 2025, 3 major customers contributed RM9,096,140 or more of group revenue.2024 年，贸易占营业额的 61.8%，零售药剂占 22.9%，制造占 14.6%，其他占 0.7%。集团退出了零售药剂业务，该脱售于 2025 年 1 月完成；向中国供应保健食品的业务也在 2024 年底合约到期后终止。2025 年，制造成为唯一的营运部门，贡献 RM11.5 million 营业额，其中 95.6% 来自本地，其余来自中国和其他国家。2025 年，3 名主要客户贡献了集团 RM9,096,140 或以上的营业额。
Sources (7)出处（7）
Trading 61.8% Manufacturing 14.6% Others 0.7% Retail Pharmacy 22.9%
Following the disposal of the retail pharmacy business in January 2025, the segment no longer contributes revenue to Bioalpha.
Similarly, the supply of health food products to China had ceased following the contract expiry in late 2024, with no revenue recorded under this segment in FY2025.
As such, the manufacturing of health supplement products now constitutes the Group’s sole operating segment.
The manufacturing segment is the sole contributor to revenue at RM11.5 million for FY2025, compared with RM11.8 million in manufacturing revenue a year ago.
Geographically, 95.6% of FY2025 turnover was derived from the local market, with the balance coming from China and other countries.
There are 3 (2024: 2) major customer contributing to RM9,096,140 (2024: RM46,711,562) or more of total revenue of the Group from manufacturing segment.
As of the 2025 report, shareholders with 5% and above were JOE Holding (M) Investment Limited with 150,000,000 shares (10.6648%), Perbadanan Nasional Berhad with 120,855,104 shares (8.5926%), and Malaysian Technology Development Corporation Sdn Bhd with 114,350,818 shares (8.1302%). Pledged accounts included 34,000,000 shares (2.4174%) in TA Nominees (Tempatan) Sdn Bhd and 12,000,000 shares (0.8532%) in Kenanga Nominees (Tempatan) Sdn Bhd pledged for Hon Tian Kok @ William, and a pledged securities account for Ooi Keng Thye held 70,317,311 shares (4.9995%).根据 2025 年报，持股 5% 及以上的主要股东为 JOE Holding (M) Investment Limited（持有 150,000,000 股，占 10.6648%）、Perbadanan Nasional Berhad（持有 120,855,104 股，占 8.5926%）以及 Malaysian Technology Development Corporation Sdn Bhd（持有 114,350,818 股，占 8.1302%）。质押账户包括 TA Nominees (Tempatan) Sdn Bhd 质押予 Hon Tian Kok @ William 的 34,000,000 股（2.4174%）、Kenanga Nominees (Tempatan) Sdn Bhd 质押予 Hon Tian Kok @ William 的 12,000,000 股（0.8532%），以及 Ooi Keng Thye 的质押证券账户持有的 70,317,311 股（4.9995%）。
Sources (7)出处（7）
5% and above 3 385,205,922 27.3877
1 JOE Holding (M) Investment Limited 150,000,000 10.6648 – –
3 Perbadanan Nasional Berhad 120,855,104 8.5926 – –
4 Malaysian Technology Development Corporation Sdn Bhd 114,350,818 8.1302 – –
PLEDGED SECURITIES ACCOUNT FOR OOI KENG THYE 70,317,311 4.9995
7 TA NOMINEES (TEMPATAN) SDN BHD 34,000,000 2.4174 PLEDGED SECURITIES ACCOUNT FOR HON TIAN KOK @ WILLIAM
15 KENANGA NOMINEES (TEMPATAN) SDN BHD 12,000,000 0.8532 PLEDGED SECURITIES ACCOUNT FOR HON TIAN KOK @ WILLIAM
Datuk Dr. Hon Tian Kok @ William served as Managing Director/Chief Executive Officer until 26 August 2025, became Executive Director on 27 August 2025, and resigned on 26 November 2025, after which the position of Managing Director/Chief Executive Officer was removed. Mr. Koo Kien Yoon was appointed Executive Director on 4 April 2025, Dr. Tan Keng How on 19 June 2025, and Ms. Ang Wan Joo on 2 September 2025. Datuk Chong Loong Men resigned on 10 May 2024, Goh Siow Cheng on 31 July 2024, and Ho Tze Hiung on 2 September 2025.Datuk Dr. Hon Tian Kok @ William 担任董事总经理兼首席执行员直至 2025 年 8 月 26 日，于 2025 年 8 月 27 日转任执行董事，并于 2025 年 11 月 26 日辞职，此后公司不再设立董事总经理兼首席执行员职位。Mr. Koo Kien Yoon 于 2025 年 4 月 4 日获任执行董事，Dr. Tan Keng How 于 2025 年 6 月 19 日获任，Ms. Ang Wan Joo 于 2025 年 9 月 2 日获任。Datuk Chong Loong Men 于 2024 年 5 月 10 日辞职，Goh Siow Cheng 于 2024 年 7 月 31 日辞职，Ho Tze Hiung 于 2025 年 9 月 2 日辞职。
Sources (9)出处（9）
Datuk Chong Loong Men (resigned on 10 May 2024)
Goh Siow Cheng (resigned on 31 July 2024)
Mr. Koo Kien Yoon (“Mr. Koo”) was appointed to our Board as Executive Director on 4 April 2025.
Dr. Tan Keng How (“Dr. Tan”) was appointed to our Board as Executive Director on 19 June 2025.
Ms. Ang Wan Joo (“Ms. Ang”) was appointed to our Board as Executive Director on 2 September 2025.
Dato’ Haji Mohd Yazid Bin Haji Mustafa serves as the Independent Non-Executive Chairman, while Datuk Dr. Hon Tian Kok @ William held the position of Managing Director/Chief Executive Officer until 26 August 2025.
Following that, Datuk Dr. Hon Tian Kok @ William was re-designated as an Executive Director from 27 August 2025 until his resignation on 26 November 2025.
From 26 November 2025, the Company no longer has the position of Managing Director/Chief Executive Officer.
Ho Tze Hiung (resigned on 2 September 2025) 4/4
Revenue by segment, 20242024 年各部门营业额占比
Sources (1)出处（1）
Trading 61.8% Manufacturing 14.6% Others 0.7% Retail Pharmacy 22.9%
Major events大事记
Sources (1)出处（1）
On 4 September 2023, Dato’ Haji Mohd Yazid Bin Haji Mustafa was appointed as the Independent Non-Executive Chairman.
Sources (2)出处（2）
On 2 December 2023, we entered into a Manage and Operate Agreement with the Langkawi Development Authority (“LADA”) to develop, manage, and operate an 8-acre agro park in Langkawi (“Langkawi Agro Park” or the “Park”).
Bioalpha Wellness Sdn Bhd, a wholly owned subsidiary of Bioalpha Holdings Berhad had entered into a Manage and Operate Agreement with Langkawi Development Authority (“LADA”) on 2nd December 2023 to develop, manage and operate an Agro Park on a piece of land under a 30-year land use rights
Sources (2)出处（2）
The Company has undertaken a Renounceable Rights Issue of Warrants which was completed on 14 February 2024 following the listing and quotation of 526,099,537 Warrants on the Ace Market of Bursa Securities and has raised gross proceeds of RM18,413,494.
The Company has undertaken a Renounceable Rights Issue of Warrants which was completed on 14 February 2024 following the listing and quotation of 526,099,537 Warrants on the Ace Market of Bursa Securities and has raised gross proceeds of RM18,413,494.
Sources (3)出处（3）
On 5 April 2024, Aluxcare Wellness Sdn. Bhd. had entered into a Sale and Purchase Agreement with MPASB, a wholly owned subsidiary of the Company for the acquisition of the business of three (3) pharmacy outlets including associated rights, properties, assets and inventory
for a total purchase consideration of RM4,800,000 (“Proposed Acquisition”).
(iii) On 5 April 2024, Aluxcare Wellness Sdn. Bhd. had entered into a Sale and Purchase Agreement with Mediconstant Pharmacy (Ampang) Sdn. Bhd., a wholly owned subsidiary of the Company for the acquisition of the business of three (3) pharmacy outlets
Sources (3)出处（3）
The disposal exercise was subsequently completed in January 2025.
Following the disposal of the retail pharmacy business in January 2025, the segment no longer contributes revenue to Bioalpha.
The disposal is completed by January 2025.
Sources (2)出处（2）
In FY2025, the Group undertook a share capital reduction exercise pursuant to Section 117 of the Companies Act 2016, involving the cancellation of RM110.0 million of Bioalpha’s issued share capital
The exercise was completed in July 2025, reducing Bioalpha’s issued share capital from RM186.2 million to RM76.2 million.
Sources (1)出处（1）
Following that, Datuk Dr. Hon Tian Kok @ William was re-designated as an Executive Director from 27 August 2025 until his resignation on 26 November 2025.
Sources (2)出处（2）
On 14 October 2025, the Board appointed Messrs, Jamal, Amin & Parnters as the external auditors of the Company and its subsidiaries companies for the financial year ended 31 December 2025 and to hold office until the conclusion of the next AGM of the Company.
f) Reviewed the appointment of new external auditors, Messrs. Jamal, Amin & Partners in place of the resigned auditors, Messrs. Chengco PLT as external auditors of the Company and its subsidiaries companies for the financial year ending 31 December 2025 and recommended to the Board’s for approval;
Revenue and loss after taxation营业额与税后亏损
Total assets, equity and borrowings总资产、总权益与借款
20232023 年
In 2023, net loss was RM42.0 million, in part affected by impairment of financial assets of RM6.3 million; fair value loss on quoted shares investments was RM13,553,153. Investing cash outflows included RM41,927,987 for acquisition of other investments, RM3,300,000 for addition investment in associated companies, and RM2,966,939 for purchase of property, plant and equipment, while short-term placements decreased by RM16,485,950. Borrowings were reduced to RM6.1 million; term loan repayments were RM2,041,491 and lease liability repayments RM1,727,707.2023 年，净亏损为 RM42.0 million，部分受金融资产减值 RM6.3 million 影响；上市股票投资公允价值亏损为 RM13,553,153。投资活动现金流出包括购买其他投资 RM41,927,987、增加联营公司投资 RM3,300,000 以及购买物业、厂房及设备 RM2,966,939，而短期配售减少了 RM16,485,950。借款减至 RM6.1 million；偿还定期贷款 RM2,041,491，偿还租赁负债 RM1,727,707。
Sources (9)出处（9）
Bioalpha reported a net loss of RM42.0 million in FY2023, in part affected by the impairment of financial assets amounting to RM6.3 million during the year.
The Group also reduced total borrowings to RM6.1 million from RM7.0 million at the end of 2023, demonstrating proactive debt management.
Fair value loss on quoted shares investments 13,553,153 – – –
Purchase of property, plant and equipment B (2,966,939) (3,128,431) – (60,000)
Decrease/(Increase) in short-term placement 16,485,950 (9,014,920) – –
Addition investment in associated companies (3,300,000) – – –
Acquisition of other investments (41,927,987) – – –
Repayments of lease liabilities C (1,727,707) (1,290,651) – –
Repayments of term loans (2,041,491) (2,391,055) – –
20242024 年
In 2024, Bioalpha raised gross proceeds of RM18,413,494 through a rights issue of 526,099,537 warrants. Asset impairments totaled RM40.1 million, including RM10,644,879 on property, plant and equipment, RM8,145,767 on intangible assets, RM4,449,356 on goodwill, and RM3,237,353 on investment in associates, beside a fair value loss of RM8,338,653 on quoted shares investments. Short-term placements increased by RM12,828,018, while proceeds from disposal of property, plant and equipment brought RM6,083,600. Total borrowings fell to RM1.0 million after term loans repayment of RM2,985,181 and lease liabilities repayment of RM1,220,101; no dividend was proposed.2024 年，Bioalpha 通过发行 526,099,537 张权证的附加股筹集了 RM18,413,494 总收益。资产减值总额达 RM40.1 million，包括物业、厂房及设备 RM10,644,879、无形资产 RM8,145,767、商誉 RM4,449,356 以及联营公司投资 RM3,237,353，此外还有上市股票投资公允价值亏损 RM8,338,653。短期配售增加了 RM12,828,018，而出售物业、厂房及设备所得款项为 RM6,083,600。偿还定期贷款 RM2,985,181 和租赁负债 RM1,220,101 后，总借款降至 RM1.0 million；董事会未建议派发股息。
Sources (14)出处（14）
During the year under review, the Group recorded several impairments related to our financial assets; property, plant, and equipment; intangible assets; investment in associate; as well as goodwill, totalling RM40.1 million.
Meanwhile, total borrowings reduced to RM1.0 million from RM6.1 million at the end of FY2023 after partial repayment of term loans.
Therefore, the Board has decided not to propose a dividend payment for the year under review.
The Company has undertaken a Renounceable Rights Issue of Warrants which was completed on 14 February 2024 following the listing and quotation of 526,099,537 Warrants on the Ace Market of Bursa Securities and has raised gross proceeds of RM18,413,494.
Based on the assessments performed, the Group has recognized impairment losses of RM10,644,879 relating to property, plant and equipment.
(Increase)/Decrease in short-term placement (12,828,018) 16,485,950 – –
Proceeds from disposal of property, plant and equipment 6,083,600 185,000 – –
Proceed from issuance of shares upon exercise of warrants 18,413,494 – 18,413,494 –
Repayments of lease liabilities C (1,220,101) (1,727,707) – –
Repayments of term loans (2,985,181) (2,041,491) – –
Less: impairment of investment in associates (3,237,353) –
During the financial year, the Group had recognised an impairment loss on goodwill of RM4,449,356 as the subsidiary incurred business losses during the financial year.
Impairment for the financial year 7,026,608 1,119,159 – 8,145,767
Fair value loss on quoted shares investments 8,338,653 13,553,153 – –
20252025 年
In 2025, net cash used in operating activities was RM5.8 million. The company completed a share capital reduction in July 2025 cancelling RM110.0 million of share capital, reducing issued share capital from RM186.2 million to RM76.2 million. Impairments of RM3,557,862 on property, plant and equipment and RM7,506,424 on intangible assets were recognised, alongside a fair value loss of RM12,237,664 on quoted shares investments. Total borrowings stood at approximately RM0.8 million, and no dividend was distributed.2025 年，营运活动所用现金净额为 RM5.8 million。公司于 2025 年 7 月完成股本削减，注销 RM110.0 million 股本，将已发行股本从 RM186.2 million 降至 RM76.2 million。确认了物业、厂房及设备减值 RM3,557,862 以及无形资产减值 RM7,506,424，另外上市股票投资公允价值亏损 RM12,237,664。总借款约为 RM0.8 million，未派发股息。
Sources (9)出处（9）
In FY2025, the Group undertook a share capital reduction exercise pursuant to Section 117 of the Companies Act 2016, involving the cancellation of RM110.0 million of Bioalpha’s issued share capital
The exercise was completed in July 2025, reducing Bioalpha’s issued share capital from RM186.2 million to RM76.2 million.
The net loss in FY2025 included impairments on intangible assets as well as property, plant and equipment, totalling RM11.1 million, along with a fair value loss of RM12.2 million on quoted investments.
Total borrowings were minimal, standing at approximately RM0.8 million at year-end, while cash and bank balances (including fixed deposits) amounted to approximately RM5.7 million.
Net cash used in operating activities amounted to RM5.8 million for FY2025 versus an inflow of RM92,344 a year ago, as the Group’s operating expenditures exceeded operating income receipts.
The Board has deliberated on this matter and concluded that, given the Group’s net loss position and the ongoing requirement to conserve financial resources to fund operating activities and the rebuilding of its manufacturing revenue base, it would not be prudent to distribute dividends
During the financial year, the Group recognised impairment losses of RM3,557,862 on certain property, plant and equipment.
During the financial year, the Group recognised impairment losses of RM7,506,424 on certain intangible assets.
Fair value loss on quoted shares investments 12,237,664 8,338,653 – –
Across the three years三年合看
Across the three reports, the group recorded net losses of RM43,653,769 in 2023, RM50,494,337 in 2024 and RM29,951,065 in 2025. Loan and borrowings were reduced from RM6,098,477 in 2023 to RM982,675 in 2024 and RM798,396 in 2025. No dividend was proposed for 2024 or 2025.在三份年报中，集团分别于 2023 年录得净亏损 RM43,653,769、2024 年 RM50,494,337 以及 2025 年 RM29,951,065。贷款与借款从 2023 年的 RM6,098,477 削减至 2024 年的 RM982,675 和 2025 年的 RM798,396。2024 年及 2025 年均未建议派发股息。
Sources (5)出处（5）
The Group also reduced total borrowings to RM6.1 million from RM7.0 million at the end of 2023, demonstrating proactive debt management.
Meanwhile, total borrowings reduced to RM1.0 million from RM6.1 million at the end of FY2023 after partial repayment of term loans.
Therefore, the Board has decided not to propose a dividend payment for the year under review.
Total borrowings were minimal, standing at approximately RM0.8 million at year-end, while cash and bank balances (including fixed deposits) amounted to approximately RM5.7 million.
The Board has deliberated on this matter and concluded that, given the Group’s net loss position and the ongoing requirement to conserve financial resources to fund operating activities and the rebuilding of its manufacturing revenue base, it would not be prudent to distribute dividends
Still to be spent尚未支出的承诺
From the RM18,413,494 raised via warrants, RM2.08 million allocated for launching new products remained unspent at end 2024.在通过权证筹集的 RM18,413,494 中，分配用于推出新产品的 RM2.08 million 截至 2024 年底尚未动用。
Sources (3)出处（3）
The Company has undertaken a Renounceable Rights Issue of Warrants which was completed on 14 February 2024 following the listing and quotation of 526,099,537 Warrants on the Ace Market of Bursa Securities and has raised gross proceeds of RM18,413,494.
(b) Launching of new products 3,500 1,420 2,080 Within 24 months
Total 18,413 16,333 2,080
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 | 35,796,829 | 46,086,810 | 81,237,569 | 11,482,926 |
| Loss before taxation税前亏损 | (48,829,663) | (45,278,759) | (52,016,401) | (34,003,501) |
| Loss after taxation税后亏损 | (48,793,678) | (43,653,769) | (50,494,337) | (29,951,065) |
| Net cash from/(used in) operating activities营运活动所得/（所用）现金净额 | – | 1,220,078 | 92,344 | (5,837,420) |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (3,128,431) | (2,966,939) | (1,229,197) | (432,564) |
| Total assets总资产 | 200,649,604 | 163,225,573 | 118,990,888 | 79,146,679 |
| Total equity总权益 | 167,987,077 | 129,632,093 | 97,715,586 | 68,391,469 |
| Loan and borrowings贷款与借款 | 6,951,968 | 6,098,477 | 982,675 | 798,396 |
| Cash and cash equivalents现金与现金等价物 | 16,972,445 | 10,423,573 | 7,159,572 | 3,554,022 |
| Other investments其他投资 | 9,026,826 | 21,477,010 | 25,966,375 | 13,729,162 |
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 |
|---|---|---|
| To develop, manage and operate an 8-acre agro park in Langkawi under a 30-year agreement with LADA, with anticipated opening in three years and revenue contribution from 2026根据与 LADA 签署的 30 年协议，在兰卡威开发、管理及营运占地 8 英亩的农业园，预计 3 年内开园并从 2026 年起贡献营业额 | In 2024 progress was delayed pending regulatory approvals; in 2025 LADA allocated a new location and the board is deliberating on the matter.2024 年因等待监管批准导致进度延误；2025 年 LADA 分配了新地点，董事会正在研议。Sources (7)出处（7）On 2 December 2023, we entered into a Manage and Operate Agreement with the Langkawi Development Authority (“LADA”) to develop, manage, and operate an 8-acre agro park in Langkawi (“Langkawi Agro Park” or the “Park”). Development is underway at the moment, with the anticipated park opening in three years. Bioalpha expects revenue contribution from the Park from year 2026 onwards through the commercialisation of high-value herbal products to be sold to 3 million annual visitors as a new revenue stream. Bioalpha Wellness Sdn Bhd, a wholly owned subsidiary of Bioalpha Holdings Berhad had entered into a Manage and Operate Agreement with Langkawi Development Authority (“LADA”) on 2nd December 2023 to develop, manage and operate an Agro Park on a piece of land under a 30-year land use rights Meanwhile, Bioalpha's development of the Langkawi Agro Park, is currently still pending regulatory approvals, with the progress slower than expected, causing delays in the project's implementation. Separately, the Group continued to pursue the development of an 8-acre agro park named Langkawi Agro Park in Kedah in collaboration with the Langkawi Development Authority (“LADA”). In the latest development, LADA has allocated a new location for the development, and the Board is deliberating on the matter. | Delayed and location changed延误且更换地点 |
| To continue expanding Constant Pharmacy's physical footprint across Malaysia继续在马来西亚扩大康宁药剂（Constant Pharmacy）的实体门市网络 | Divested the retail pharmacy business under Constant in 2024, completing the disposal in January 2025 with no revenue contribution in 2025.2024 年决定脱售 Constant 旗下的零售药剂业务，并于 2025 年 1 月完成脱售，2025 年不再贡献营业额。Sources (5)出处（5）Meanwhile, for our retail pharmacy business in Malaysia, we will continue our efforts in expanding Constant Pharmacy’s physical footprint. As part of this shift, the Group made decisive changes to our business portfolio, including exiting from the retail pharmacy segment and a reassessment of our presence in China. During the year, we streamlined our operations by divesting our retail pharmacy business, which operated under the brand Constant Pharmacy (“Constant”). The disposal exercise was subsequently completed in January 2025. Following the disposal of the retail pharmacy business in January 2025, the segment no longer contributes revenue to Bioalpha. | Exited business已退出该业务 |
| Anticipated gradual growth for the health food supply venture in China in 2024预计 2024 年中国保健食品供应业务将稳步成长 | Trading revenue reached RM50.2 million in 2024, but the contract expired in late 2024 and ceased, recording no revenue in 2025.2024 年贸易业务营业额达 RM50.2 million，但该合约于 2024 年底到期并终止，2025 年没有录得任何营业额。Sources (4)出处（4）In China, we anticipate gradual growth for our health food supply venture in 2024. The trading segment generated revenue of RM50.2 million in FY2024, as compared to RM16.6 million in FY2023. Similarly, the supply of health food products to China had ceased following the contract expiry in late 2024, with no revenue recorded under this segment in FY2025. The health food supply and the retail pharmacy had contributed RM50.2 million and RM18.6 million in revenue, respectively, in FY2024. | Ceased after contract expiry合约到期后终止 |
| RM6.0 million of warrant proceeds allocated for repayment of bank borrowings within 12 months权证所筹资金中的 RM6.0 million 分配用于在 12 个月内偿还银行借款 | The 2024 report shows all RM6.0 million was fully utilised for repayment of bank borrowing.2024 年报显示 RM6.0 million 全部用于偿还银行借款。Sources (3)出处（3）(c) Repayment of bank borrowings 6,000 Within 12 months (c) Repayment of bank borrowing 6,000 6,000 – Within 12 months Total 18,413 16,333 2,080 | Carried out已执行 |
| Anticipated FY2024 to be a year of recovery barring unforeseen circumstances在没有不可预见情况下，预计 2024 财政年将是复苏之年 | Net loss expanded to RM50,494,337 in FY2024, alongside asset impairments of RM40.1 million.2024 财政年净亏损扩大至 RM50,494,337，并计提了 RM40.1 million 的资产减值。Sources (2)出处（2）Barring unforeseen circumstances, Bioalpha anticipates FY2024 to be a year of recovery. During the year under review, the Group recorded several impairments related to our financial assets; property, plant, and equipment; intangible assets; investment in associate; as well as goodwill, totalling RM40.1 million. | Net loss widened净亏损扩大 |
What the reports leave open年报留下待看的事
- Bioalpha is focusing on manufacturing as its sole operating segment after exiting retail pharmacy and China health food supply, working to expand domestic ODM customers and improve gross margins.在退出零售药剂及中国保健食品供应后，Bioalpha 将制造列为唯一营运部门，正努力拓展本地 ODM 客户并改善毛利率。
Sources (5)出处（5）
Following the disposal of the retail pharmacy business in January 2025, the segment no longer contributes revenue to Bioalpha.
Similarly, the supply of health food products to China had ceased following the contract expiry in late 2024, with no revenue recorded under this segment in FY2025.
As such, the manufacturing of health supplement products now constitutes the Group’s sole operating segment.
The strategic focus is clear – to rebuild the manufacturing segment’s revenue, improve gross margins, and work towards the path of profitability.
First, expanding the ODM customer base domestically — the Group has made encouraging early progress in onboarding new customers in the second half of FY2025, and this effort will continue into FY2026.
- The board is deliberating on a new location allocated by LADA for the 8-acre Langkawi Agro Park development.董事会正在研议由 LADA 为占地 8 英亩的兰卡威农业园项目分配的新地点。
Sources (2)出处（2）
Separately, the Group continued to pursue the development of an 8-acre agro park named Langkawi Agro Park in Kedah in collaboration with the Langkawi Development Authority (“LADA”).
In the latest development, LADA has allocated a new location for the development, and the Board is deliberating on the matter.
- Lease registration documents in relation to the Desaru Land remain in process with the land office across all three annual reports.三份年报均显示，有关迪沙鲁土地（Desaru Land）的租赁登记文件仍在土地局处理中。
Sources (3)出处（3）
To date, the said lease registration documents in relation to the Desaru Land is being process by the land office.
To date, the said lease registration documents in relation to the Desaru Land is being process by the land office.
To date, the said lease registration documents in relation to the Desaru Land is being process by the land office.
- Net cash used in operating activities was RM5.8 million in 2025 compared to an inflow of RM92,344 in 2024.2025 年营运活动所用现金净额为 RM5.8 million，而 2024 年为现金流入 RM92,344。
Sources (1)出处（1）
Net cash used in operating activities amounted to RM5.8 million for FY2025 versus an inflow of RM92,344 a year ago, as the Group’s operating expenditures exceeded operating income receipts.
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-17.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 2026-10-17。