DailySpaceBinasat Communications Berhad
0195 · ACE Market创业板（ACE Market） · annual reports 2023 to 2025, 573 entries read2023 至 2025 年报，共读出 573 条
The company这家公司
Binasat Communications Berhad provides supporting services for satellite, mobile and fibre optic telecommunications networks in Malaysia, as well as transmission and distribution network utility construction services and solar facilities EPCC.Binasat Communications Berhad 在马来西亚提供卫星、移动与光纤电信网络配套服务，并从事输配电网络公用设施建设服务以及太阳能设施工程、采购、施工与调试（EPCC）。
Sources (2)出处（2）
Currently, the Group is primarily involved in the provision of supporting services for the three (3) main telecommunications mediums in Malaysia, namely satellite, mobile and fibre optic telecommunication networks.
Provision of transmission and distribution network utility construction services, as well as engineering, procurement, construction and commissioning (EPCC) of solar facilities.
In FPE 2023, telecommunications networks contributed RM92.00 million or 69.6% of revenue, and power and network utility construction contributed RM40.21 million or 30.4%. In FYE 2024, telecommunications networks accounted for RM95.40 million or 85.2% of revenue, while infrastructure works accounted for RM16.51 million or 14.8%. Following the disposal of Borderless Connection Sdn Bhd, telecommunications networks and others contributed 100.0% of revenue in FYE 2025.2023 财政期间，电信网络业务贡献了 RM92.00 million 或 69.6% 的营业额，电力与网络公用工程贡献了 RM40.21 million 或 30.4%。2024 财政年，电信网络占营业额的 RM95.40 million 或 85.2%，基础设施工程占 RM16.51 million 或 14.8%。在脱售 Borderless Connection Sdn Bhd 之后，电信网络及其他业务在 2025 财政年贡献了 100.0% 的营业额。
Sources (3)出处（3）
In FPE 2023, our satellite, mobile and fibre optic telecommunications networks segment continued to be the Group’s largest revenue contributor, contributed RM92.00 million or 69.6% of the Group’s revenue while the remaining RM40.21 million or 30.4% was derived from our power and
generating RM95.40 million or 85.2% of the Group’s revenue, while the remaining RM16.51 million or 14.8%, was derived from our power and telecommunication infrastructure works segment.
Following the disposal of Borderless Connection Sdn Bhd during FYE 2024, our satellite, mobile and fibre optic telecommunications networks and others segment contributed 100.0% of our Group’s total revenue.
The group operates predominantly in Malaysia. In FPE 2023, Customer A contributed RM41,717,872, Customer B contributed RM28,143,769. In FYE 2024, Customer A contributed RM30,864,861. In FYE 2025, Customer A contributed RM23,244,643 and Customer B contributed RM22,041,858.该集团主要在马来西亚运营。2023 财政期间，客户 A 贡献了 RM41,717,872，客户 B 贡献了 RM28,143,769。2024 财政年，客户 A 贡献了 RM30,864,861。2025 财政年，客户 A 贡献了 RM23,244,643，客户 B 贡献了 RM22,041,858。
Sources (7)出处（7）
Customer A 41,717,872 19,969,509
Customer B 28,143,769 4,693,125
The Group operates predominantly in Malaysia and hence, no geographical segment is presented.
Customer A 30,864,861 41,717,872
The Group separates predominantly in Malaysia, hence, no geographical segment is presented.
Customer A 23,244,643 30,864,861
Customer B 22,041,858 -
In the shareholder list of the 2025 report, Opcom VC Sdn Bhd held 180,183,939 shares (29.82%) in a pledged securities account with Malaysia Nominees (Tempatan) Sendirian Berhad, with Dato' Ong Choo Meng and HCB deemed interested. Na Bon Tiam held 37,735,051 shares (6.25%). In earlier reports, Opcom VC Sdn Bhd held 96,222,021 shares (24.78% in 2023 and 22.53% in 2024), and Na Bon Tiam held 38,836,951 shares (10.00% in 2023 and 9.09% in 2024).在 2025 年年报的股东名单中，Opcom VC Sdn Bhd 通过在 Malaysia Nominees (Tempatan) Sendirian Berhad 开设的抵押证券账户持有 180,183,939 股（29.82%），Dato' Ong Choo Meng 与 HCB 被视为拥有权益。Na Bon Tiam 持有 37,735,051 股（6.25%）。在较早年报中，Opcom VC Sdn Bhd 持有 96,222,021 股（2023 年为 24.78%，2024 年为 22.53%），Na Bon Tiam 持有 38,836,951 股（2023 年为 10.00%，2024 年为 9.09%）。
Sources (9)出处（9）
Opcom VC Sdn Bhd 96,222,021 24.78 - -
Na Bon Tiam 38,836,951 10.00 - -
Opcom VC Sdn Bhd (“OVCSB”) 96,222,021 22.53 - -
Na Bon Tiam 38,836,951 9.09 - -
OVCSB 180,183,939 29.82 - -
Dato’ Ong Choo Meng (*) - - 180,183,939 29.82
HCB (^) - - 180,183,939 29.82
Na Bon Tiam 37,735,051 6.25 - -
Malaysia Nominees (Tempatan) Sendirian Berhad 180,183,939 29.82 Pledged Securities Account for OVCSB (05-00056-000)
On 26 January 2024, Na Boon Aik resigned as director, and Ong Soon Lim was appointed Group Managing Director. Dato' Ong Choo Meng, the substantial shareholder of HCB, is the nephew of Ong Soon Lim. On the same day, Teh Li King was appointed Non-Independent Non-Executive Director. Senior Independent Non-Executive Director Dato' Seow Thiam Fatt retired at the conclusion of the Eighth AGM on 20 June 2025.2024 年 1 月 26 日，Na Boon Aik 辞去董事职务，Ong Soon Lim 获委任为集团董事经理。HCB 的主要股东 Dato' Ong Choo Meng 是 Ong Soon Lim 的侄子。同日，Teh Li King 获委任为非独立非执行董事。高级独立非执行董事 Dato' Seow Thiam Fatt 于 2025 年 6 月 20 日举行的第八届股东大会结束后退休。
Sources (6)出处（6）
Na Boon Aik (Resigned on 26 January 2024)
Teh Li King (Appointed on 26 January 2024)
Ong Soon Lim was appointed as the Group Managing Director (“MD”) of the Company on 26 January 2024.
Teh Li King was appointed as the Non-Independent Non-Executive Director of the Company on 26 January 2024.
Y. Bhg. Dato’ Ong Choo Meng, the substantial shareholder of HCB, is the nephew of Mr. Ong Soon Lim.
However, our Senior Independent Non-Executive Director, Dato’ Seow Thiam Fatt, retired at the conclusion of the Eighth AGM held on 20 June 2025.
Revenue by segment, 20242024 年各部门营业额占比
Sources (1)出处（1）
generating RM95.40 million or 85.2% of the Group’s revenue, while the remaining RM16.51 million or 14.8%, was derived from our power and telecommunication infrastructure works segment.
Major events大事记
Sources (1)出处（1）
The free warrants issue had been completed following the listing and quotation of 194,147,748 warrants on the ACE Market of Bursa Malaysia on 27 January 2023, with an exercise price of RM0.32 each.
Sources (1)出处（1）
In January 2024, Hextar Capital Berhad, through its wholly-owned subsidiary, Opcom VC Sdn Bhd (“OVCSB”), increased its shareholding in Binasat by 6.75%, bringing its total stake to 24.78%.
Sources (2)出处（2）
We are proud to be involved in this project, having secured a contract on 29 October 2024 to construct a PMU at Genting Kelang.
This contract has a contract sum of RM46.31 million and is expected to contribute positively to our financial performance over the next two (2) financial years.
Sources (2)出处（2）
^ - On 31 December 2024, the Company had disposed the 51% equity interests in BCSB for a sale consideration of RM5,915,052.
(c) On 31 December 2024, the Company entered into a share sale agreement to dispose 510,000 ordinary shares in Borderless Connection Sdn. Bhd.(“BCSB”), representing 51% equity interest in BCSB, for a cash consideration of RM5,915,052. The disposal of shares were completed on 31 December 2024.
Sources (2)出处（2）
Following shareholder approval at the Extraordinary General Meeting held on 23 April 2025, our Group proceeded with the acquisitions of three (3) properties within Sazean Business Park (“SBP”) (“SBP Properties”) and 241 units of fully furnished hotel suites at Empire City, Damansara Perdana
As part of this strategy, we acquired three (3) properties at SBP for RM8.34 million and 241 hotel suites at Empire City for RM73.54 million.
Sources (1)出处（1）
On 18 December 2025, we accepted a RM52.46 million contract from Lembaga Dius Api for the provision of managed and secure internet services incorporating Software-Defined Wide Area Network (“SD-WAN”) over a 60-month period commencing January 2026.
Sources (3)出处（3）
Pursuant to the JID, Binasat SB shall pay TMT the sum of RM873,092 ("Judgment Sum") together with interest at 5% per annum on the Judgment Sum from 12 March 2024 until full settlement, and cost of RM1,306.
On 2 April 2026, the Court of Appeal has allowed the appeal to set aside the JID.
The matter has been remitted to the Petaling Jaya Sessions Court for a full trial.
Revenue and profit before taxation营业额与税前盈利
Total assets, liabilities and equity总资产、负债与权益
Cash, investments and borrowings现金、投资与借款
FPE 20232023 财政期间
In FPE 2023, the financial period was 18 months. An impairment of goodwill amounting to RM16.10 million was recognised on 51% owned subsidiary Borderless Connection Sdn Bhd. Net cash used in operating activities was RM15.46 million. Investing activities generated RM7.44 million, mainly from the disposal of two investment properties for RM10.50 million, while purchase of property, plant and equipment took RM3.51 million. Net cash used in financing activities was RM4.31 million, including RM7,649,585 in repayment of term loans and RM1,839,201 in repayment of hire purchase payables, offset by borrowings drawdown of RM7,650,447. No dividend was declared or paid.2023 财政期间共 18 个月。对持有 51% 股权的子公司 Borderless Connection Sdn Bhd 计提了 RM16.10 million 的商誉减值。营运活动所用现金净额为 RM15.46 million。投资活动产生 RM7.44 million 现金，主要来自以 RM10.50 million 脱售两项投资产业，而购买物业、厂房及设备使用了 RM3.51 million。融资活动所用现金净额为 RM4.31 million，包括偿还定期贷款 RM7,649,585 与租购应付款项 RM1,839,201，被提取借款 RM7,650,447 所部分抵销。未宣派或支付股息。
Sources (10)出处（10）
The Group has changed its financial year end from 30 June to 31 December during this financial period, resulting in an 18-month period reported from 1 July 2022 to 31 December 2023 (“FPE 2023”).
In FPE 2023, our Group reported a LBT and a LAT of RM10.47 million and RM12.48 million respectively, mainly due to an impairment of goodwill amounting to RM16.10 million arising from the lower recoverable amount of investment in our 51% owned subsidiary, Borderless Connection Sdn Bhd (“BCSB”).
In FPE 2023, the Group recorded a negative operating cash flow of RM15.46 million as compared RM0.22 million in
The Group’s net cash from investing activities of RM7.44 million in FPE 2023 was primarily attributable to the proceeds from disposal of two (2) units of investment properties amounting to RM10.50 million.
The cash inflow was partially offset by the purchase of property, plant and equipment amounting to RM3.51 million, mainly consists of telecommunication equipment, tools and equipment as well as motor vehicles.
The Group’s net cash used in financing activities of RM4.31 million in FPE 2023 was mainly attributable to the repayment of hire purchase payables and lease liabilities as well as interest expenses amounting to RM1.84 million, RM1.10 million and RM1.24 million respectively.
No dividend was declared or paid in FPE 2023 as the Company is currently prioritising on strengthening its business and operations in order to ensure a long-term growth.
Drawdown of borrowings 7,650,447 - - -
Repayment of term loans 30(b) (7,649,585) (579,473) - -
Repayment of hire purchase payables 30(b) (1,839,201) (580,319) - -
FYE 20242024 财政年
In FYE 2024, net cash used in operating activities was RM30.36 million, reflecting an increase in other receivables, deposits and prepayments from the disposal of Borderless Connection Sdn Bhd. The group disposed of its 51% stake in BCSB on 31 December 2024 for a consideration of RM5,915,052, receiving net cash inflow on disposal of RM7,086,364. Financing activities generated net cash of RM4.95 million, driven by borrowings drawdown of RM7.13 million and proceeds from issuance of shares of RM5.57 million, while repayment of term loans took RM5,254,788. No dividend was declared or paid.2024 财政年，营运活动所用现金净额为 RM30.36 million，反映了因脱售 Borderless Connection Sdn Bhd 产生的其他应收款项、定金及预付款项增加。集团于 2024 年 12 月 31 日以 RM5,915,052 代价脱售 BCSB 的 51% 股权，获得脱售现金流入净额 RM7,086,364。融资活动产生现金净额 RM4.95 million，主要受提取借款 RM7.13 million 以及发行股份所得款项 RM5.57 million 带动，而偿还定期贷款使用了 RM5,254,788。未宣派或支付股息。
Sources (10)出处（10）
In FYE 2024, our Group recorded a net cash used in operating activities of RM30.36 million, primarily due to increase in other receivables, deposits and prepayments arising from the disposal of BCSB.
Our Group recorded a net cash generated from financing activities of RM4.95 million, driven by the drawdown of borrowings of RM7.13 million and proceeds from issuance of share amounting to RM5.57 million.
No dividend was declared or paid in FYE 2024 as the Company is currently prioritising on business expansion in order to drive sustainable growth.
Proceeds from disposal of a subsidiary, net of cash and cash equivalents disposed of 30 7,086,364 (32,964) 5,915,052 51
Proceeds from issuance of shares 19 5,570,000 - 5,570,000 -
Repayment of term loans 31(b) (5,254,788) (7,649,585) - -
^ - On 31 December 2024, the Company had disposed the 51% equity interests in BCSB for a sale consideration of RM5,915,052.
On 31 December 2024, the Company disposed of its entire equity interest in a subsidiary, Borderless Connection Sdn. Bhd. for a consideration of RM5,915,052.
Net cash inflow on disposal 7,086,364
(c) On 31 December 2024, the Company entered into a share sale agreement to dispose 510,000 ordinary shares in Borderless Connection Sdn. Bhd.(“BCSB”), representing 51% equity interest in BCSB, for a cash consideration of RM5,915,052. The disposal of shares were completed on 31 December 2024.
FYE 20252025 财政年
In FYE 2025, receivables and contract assets increased by RM46,971,519, and an impairment of RM8.02 million was recognised on other receivables. Investing activities generated RM2.78 million, mainly from the disposal of an investment property for RM3.00 million, while purchase of property, plant and equipment took RM0.20 million. Financing activities generated RM18.30 million, primarily from share issuance proceeds of RM25.72 million and borrowings drawdown of RM5.00 million, while repayment of term loans and trade bills took RM9,349,371. No dividend was declared or distributed.2025 财政年，应收款项与合同资产增加 RM46,971,519，且对其他应收款项计提了 RM8.02 million 的减值。投资活动产生 RM2.78 million 现金，主要来自以 RM3.00 million 脱售一项投资产业，购买物业、厂房及设备使用了 RM0.20 million。融资活动产生 RM18.30 million 现金，主要来自发行股份所得款项 RM25.72 million 及提取借款 RM5.00 million，而偿还定期贷款与贸易票据使用了 RM9,349,371。未宣派或派发股息。
Sources (11)出处（11）
This was mainly attributable to the decrease in GP as well as the impairment on other receivables amounting to RM8.02 million.
The cash outflow was mainly due to an increase in receivables and contract assets, as revenue recognised from the higher number of projects undertaken during the year had not yet been fully collected as at year end.
In FYE 2025, our Group recorded net cash generated from investing activities amounting to RM2.78 million, primarily attributable to proceeds of RM3.00 million from disposal of an investment property during the financial year.
Our Group recorded net cash generated from financing activities of RM18.30 million in FYE 2025, mainly driven by proceeds from the issuance of shares amounting to RM25.72 million.
During FYE 2025, our Group allocated RM0.20 million for the following capital expenditure (“CAPEX”): -
In FYE 2025, no dividend was declared or distributed, as we continue to prioritise strengthening our core operations and executing our strategic diversification initiatives to support sustainable growth.
Receivables and contract assets (46,971,519) (46,029,643) 5,491,277 (11,187,020)
Proceeds from disposal of investment properties 3,000,000 - - -
Drawdown of borrowings 32(b) 5,000,000 7,133,186 - -
Proceeds from issuance of shares 19 25,720,517 5,570,000 25,720,517 5,570,000
Repayment of term loans and trade bills 32(b) (9,349,371) (5,254,788) - -
Across the three reports三份年报合看
Trade receivables and contract assets grew from RM71,168,538 (44% of total assets) at end 2024 to RM98,119,312 (51% of total assets) at end 2025. Total borrowings declined from RM11,177,920 at end 2024 to RM4,419,376 at end 2025. Across the three reports, the company paid no dividend and maintains no formal dividend policy.贸易应收款项与合同资产由 2024 年底的 RM71,168,538（占总资产 44%）增至 2025 年底的 RM98,119,312（占总资产 51%）。总借款由 2024 年底的 RM11,177,920 降至 2025 年底的 RM4,419,376。三份年报中，公司均未派发股息，也未制定正式的股息政策。
Sources (7)出处（7）
Currently, the Company does not have any formal dividend policy.
Currently, the Company does not have any formal dividend policy.
The Group recorded trade receivables and contract assets of RM71,168,538, which represents 44% of the Group’s total assets as of 31 December 2024.
Later than five years 1,863,971 2,128,524 11,177,920 11,261,511
Our Company currently does not have any formal dividend policy.
The Group recorded trade receivables and contract assets of RM98,119,312, which represents 51% of the Group’s total assets as of 31 December 2025.
Later than five years 721,653 1,863,971 4,419,376 11,177,920
Still to be spent尚未支出的承诺
Capital commitments approved but not contracted for purchase of property, plant and equipment were RM73,687,750 in 2024, and capital commitments for purchase of investment properties were RM51,371,402 in 2025. In addition, the cash settlement period for the Empire City Properties was extended to 16 May 2026, and the completion period for the SBP SPAs was extended to 23 June 2026.2024 年已批准但未签约购买物业、厂房及设备的资本承诺为 RM73,687,750，2025 年购买投资产业的资本承诺为 RM51,371,402。此外，收购 Empire City Properties 的现金结算期已延长至 2026 年 5 月 16 日，SBP 买卖协议的完成期限已延长至 2026 年 6 月 23 日。
Sources (4)出处（4）
Purchase of property, plant and equipment 73,687,750 - 73,687,750 288,621
Purchase of investment properties 51,371,402 73,687,750
Subsequently, the Company announced multiple extensions of the completion period of SBP SPAs from 23 October 2025 until 23 June 2026, as mutually agreed by BASB and the SBP vendors.
On 14 November 2025, the Company also announced that LCSB and vendor of Empire City Properties have mutually agreed to further extend the settlement period for the remaining cash payment by 6 months from 16 November 2025 until 16 May 2026.
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 | 83,507,592 | 132,207,974 | 111,906,843 | 118,202,600 |
| Profit/(Loss) before taxation税前盈利／（亏损） | 6,601,236 | (10,473,389) | 3,372,904 | (9,783,142) |
| Net cash from/(used in) operating activities营运活动所得／（所用）现金净额 | (223,935) | (15,458,432) | (30,362,562) | – |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (3,412,483) | (3,505,056) | (1,587,727) | – |
| Total assets总资产 | 166,809,496 | 170,227,522 | 161,589,596 | 192,421,200 |
| Total liabilities总负债 | 35,169,966 | 51,200,731 | 40,530,491 | 56,894,506 |
| Total equity总权益 | 131,639,530 | 119,026,791 | 121,059,105 | 135,526,694 |
| Borrowings借款 | 8,000,421 | 9,434,082 | 11,177,920 | 4,419,376 |
| Short-term investments短期投资 | 26,872,163 | 22,945,360 | 5,738,259 | 1,000,000 |
| Cash and bank balances现金与银行结余 | 15,657,363 | 7,249,633 | 6,628,676 | 8,248,652 |
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 58,244,300 new shares submitted on 27 November 20232023 年 11 月 27 日提呈建议私下配售最多 58,244,300 股新股 | Completed in three tranches: 12,000,000 shares in May 2024, 11,000,000 shares in June 2024, and 15,829,500 shares on 28 January 2025, raising gross proceeds of RM8.18 million.分三批完成：2024 年 5 月 12,000,000 股、2024 年 6 月 11,000,000 股，以及 2025 年 1 月 28 日 15,829,500 股，共筹得毛收益 RM8.18 million。Sources (5)出处（5）(b) On 27 November 2023, the Company submitted to Bursa Malaysia proposed private placement of up to 58,244,300 new shares (“Placement Shares”) at an issue price to be determined at a later date. The Company had on 28 May 2024 completed the first tranche of the Private Placement for 12,000,000 Placement Shares at an issue price of RM0.235 per Placement Share. Subsequently, the Company had on 28 June 2024 completed the second tranche of the Private Placement for 11,000,000 Placement Shares at an issue price of RM0.250 per Placement Share. The Private Placement was completed following the issuance of the third and final tranche of 15,829,500 Placement Shares at an issue price of RM0.165 per Placement Share on 28 January 2025. The Company raised total gross proceeds of RM8.18 million from the Private Placement and the status of utilisation of the proceed as at 17 March 2025 is as follows: - | Completed with fewer shares than maximum已完成，发行股数少于上限 |
| Proposed diversification into property investment, management, development and construction, with shareholder approval scheduled in April 2025建议多元化进军产业投资、管理、开发与建筑业务，预定于 2025 年 4 月寻求股东批准 | Shareholders approved the proposals on 23 April 2025, and acquisitions of the SBP properties and Empire City suites proceeded.股东于 2025 年 4 月 23 日批准相关建议，随后推进收购 SBP 产业及 Empire City 套房。Sources (4)出处（4）In addition to our existing business, our Group plans to diversify into property investment, property management, and property development and construction. These proposals are subject to our shareholders’ approval, which is scheduled in April 2025. (iii) proposed diversification of the principal activities of Binasat Sdn. Bhd. and its subsidiaries to include property investment, property management, property development and construction (“Proposed Diversifications”); and Following shareholder approval at the Extraordinary General Meeting held on 23 April 2025, our Group proceeded with the acquisitions of three (3) properties within Sazean Business Park (“SBP”) (“SBP Properties”) and 241 units of fully furnished hotel suites at Empire City, Damansara Perdana As part of this strategy, we acquired three (3) properties at SBP for RM8.34 million and 241 hotel suites at Empire City for RM73.54 million. | Approved and proceeded已获批准并推进 |
| Proposed private placement of up to 128,137,500 new shares to third party investors (2024)建议向第三方投资者私下配售最多 128,137,500 股新股（2024） | Completed in two tranches of 100,000,000 shares and 28,137,500 shares at RM0.10 each on 29 August and 11 September 2025.于 2025 年 8 月 29 日及 9 月 11 日分两批完成，每股 RM0.10，分别发行 100,000,000 股与 28,137,500 股。Sources (3)出处（3）(iv) proposed private placement of up to 128,137,500 new Shares (“Placement Share(s)”), representing not more than 30% of the issued Shares of the Company to third party investor(s) at an issue price to be determined later (“Proposed Private Placement”). The first tranche of the Private Placement, comprising 100,000,000 Placement Shares at an issue price of RM0.10 per Placement Share, was completed on 29 August 2025. This was followed by the second and final tranche of 28,137,500 Placement Shares, also at an issue price of RM0.10 per Placement Share, completed on 11 September 2025. | Completed; all 128,137,500 shares issued已完成；128,137,500 股全数发行 |
| RM23.76 million Subang DCA – Ara Damansara cable replacement project scheduled for completion within two financial years价值 RM23.76 million 的 Subang DCA – Ara Damansara 电缆更换项目预计在两个财政年内完成 | The 2025 report states the RM23.76 million project progressed according to plan.2025 年报表示该 RM23.76 million 项目按计划推进。Sources (3)出处（3）We had on 27 August 2024, accepted a letter of award with a contract sum of RM23.76 million for the horizontal directional drilling (“HDD”), open-cut excavation and cable laying works for a 132 kV underground cable replacement project at Subang DCA – Ara Damansara 1 & 2. Scheduled for completion within the next two (2) financial years, this project is expected to not only contribute positively to our financial performance but also enhance the efficiency and reliability of our nation’s power transmission. RM23.76 million horizontal directional drilling project for underground cable replacement at Subang DCA – Ara Damansara and the RM46.31 million PMU Genting Kelang contract for Tenaga Nasional Berhad’s (“TNB”) 132kV underground new power cable, both secured in FYE 2024, progressed according to plan | In progress进行中 |
| RM46.31 million PMU Genting Kelang contract scheduled to contribute over next two financial years价值 RM46.31 million 的云顶吉冷 PMU 合约预计在未来两个财政年贡献业绩 | The 2025 report states the RM46.31 million contract progressed according to plan.2025 年报表示该 RM46.31 million 合约按计划推进。Sources (3)出处（3）We are proud to be involved in this project, having secured a contract on 29 October 2024 to construct a PMU at Genting Kelang. This contract has a contract sum of RM46.31 million and is expected to contribute positively to our financial performance over the next two (2) financial years. RM23.76 million horizontal directional drilling project for underground cable replacement at Subang DCA – Ara Damansara and the RM46.31 million PMU Genting Kelang contract for Tenaga Nasional Berhad’s (“TNB”) 132kV underground new power cable, both secured in FYE 2024, progressed according to plan | In progress进行中 |
What the reports leave open年报留下待看的事
- Whether the acquisitions of SBP Properties and Empire City Properties complete within the extended deadlines of 23 June 2026 and 16 May 2026.SBP 产业与 Empire City 产业的收购能否在分别延长至 2026 年 6 月 23 日及 2026 年 5 月 16 日的期限内完成。
Sources (2)出处（2）
Subsequently, the Company announced multiple extensions of the completion period of SBP SPAs from 23 October 2025 until 23 June 2026, as mutually agreed by BASB and the SBP vendors.
On 14 November 2025, the Company also announced that LCSB and vendor of Empire City Properties have mutually agreed to further extend the settlement period for the remaining cash payment by 6 months from 16 November 2025 until 16 May 2026.
- Trade receivables and contract assets reached RM98,119,312 (51% of total assets) at end 2025, with RM13,111,497 past due more than 90 days.截至 2025 年底，贸易应收款项与合同资产达 RM98,119,312（占总资产 51%），其中超过 90 天逾期的金额为 RM13,111,497。
Sources (2)出处（2）
The Group recorded trade receivables and contract assets of RM98,119,312, which represents 51% of the Group’s total assets as of 31 December 2025.
More than 90 days past due 13,111,497 - - 13,111,497
- Migration from Ku-Band GEO to Starlink LEO satellite technology for selected sites, and the board's efforts towards restoring profitability.部分站点从 Ku-Band GEO 转向 Starlink LEO 卫星技术，以及董事会争取恢复盈利的举措。
Sources (2)出处（2）
During FYE 2025, we commenced a strategic migration from Ku-Band Geostationary Earth Orbit (“Ku-Band GEO”) satellite services to Starlink Low Earth Orbit (“LEO”) satellite technology for selected sites, to ensure our service offerings remain competitive and relevant.
The Board will continue to focus on prudent cost management, disciplined project selection and operational efficiency to improve margins and work towards restoring profitability.
- Implementation of the RM52.46 million contract from Lembaga Dius Api over 60 months commencing January 2026, alongside remaining performance obligations of RM286,154,452.自 2026 年 1 月起实施的为期 60 个月、价值 RM52.46 million 的 Lembaga Dius Api 合约，以及 RM286,154,452 的未履行履约义务。
Sources (2)出处（2）
On 18 December 2025, we accepted a RM52.46 million contract from Lembaga Dius Api for the provision of managed and secure internet services incorporating Software-Defined Wide Area Network (“SD-WAN”) over a 60-month period commencing January 2026.
Later than one year but not later than five years 25,220,664 11,454,980 286,154,452 63,638,198
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。