DailySpaceTri-Mode System (M) Berhad
0199 · ACE Market创业板（ACE Market） · annual reports 2023 to 2025, 507 entries read2023 至 2025 年报，共读出 507 条
The company这家公司
Tri-Mode System (M) Berhad provides integrated logistics services, including sea freight, container haulage, air freight, freight forwarding, warehousing and marine insurance services.Tri-Mode System (M) Berhad 提供综合物流服务，包括海运、集装箱牵引、空运、货运代理、仓储及海事保险服务。
Source: annual report 2025, page 9.出处：2025 年年报第 9 页。
In 2025, sea freight contributed 56.4% of revenue, container haulage 28.1%, warehousing 10.6%, freight forwarding 2.7%, air freight 1.8%, and marine insurance 0.4%. Malaysia accounted for 91.5% of revenue, and overseas markets accounted for 8.5%.2025 年，海运占营业额 56.4%，集装箱牵引占 28.1%，仓储占 10.6%，货运代理占 2.7%，空运占 1.8%，海事保险占 0.4%。马来西亚本土市场占营业额 91.5%，海外市场占 8.5%。
Source: annual report 2025, page 11.出处：2025 年年报第 11 页。
Services income from associate Atama Logistics (M) Sdn. Bhd. was RM10,600,471 in 2023, RM8,755,498 in 2024, and RM8,195,765 in 2025.来自联营公司 Atama Logistics (M) Sdn. Bhd. 的服务收入在 2023 年为 RM10,600,471，2024 年为 RM8,755,498，2025 年为 RM8,195,765。
Source: annual report 2023, page 119; annual report 2024, page 119; annual report 2025, page 120.出处：2023 年年报第 119 页；2024 年年报第 119 页；2025 年年报第 120 页。
Dato’ Hew Han Seng holds 83,586,275 shares (50.35%) and has deemed interests in 29,114,325 shares (17.54%) held by his spouse Datin Sam Choi Lai, who holds 29,114,325 shares (17.54%).Dato’ Hew Han Seng 持有 83,586,275 股（50.35%），并视作持有其配偶 Datin Sam Choi Lai 名下的 29,114,325 股（17.54%）；Datin Sam Choi Lai 持有 29,114,325 股（17.54%）。
Source: annual report 2025, pages 7, 134.出处：2025 年年报第 7、134 页。
CIMSEC Nominees (Tempatan) Sdn Bhd holds 83,136,275 shares (50.08%) for Hew Han Seng and 28,425,625 shares (17.12%) for Sam Choi Lai, while CGS International Nominees holds 450,000 shares (0.27%) in a pledged account for Hew Han Seng.CIMSEC Nominees (Tempatan) Sdn Bhd 分别为 Hew Han Seng 代持 83,136,275 股（50.08%），为 Sam Choi Lai 代持 28,425,625 股（17.12%）；CGS International Nominees 在 Hew Han Seng 的抵押证券账户中持有 450,000 股（0.27%）。
Source: annual report 2025, page 135.出处：2025 年年报第 135 页。
Datin Sam Choi Lai is the spouse of Dato’ Hew Han Seng, and a director is the sister of Dato’ Hew. Director Wai Wah Kwan @ Wai Ah Har resigned on 30 November 2025, and an Independent Non-Executive Director was appointed on 1 December 2025.Datin Sam Choi Lai 是 Dato’ Hew Han Seng 的配偶，一名董事是 Dato’ Hew 的姐妹。董事 Wai Wah Kwan @ Wai Ah Har 于 2025 年 11 月 30 日辞职，一名独立非执行董事于 2025 年 12 月 1 日获委任。
Source: annual report 2025, pages 7, 8, 28, 50.出处：2025 年年报第 7、8、28、50 页。
Revenue by segment, 20252025 年各业务部门营业额占比
Source: annual report 2025, page 11.出处：2025 年年报第 11 页。
Major events大事记
Source: annual report 2023, pages 12, 17.出处：2023 年年报第 12、17 页。
Source: annual report 2023, page 12.出处：2023 年年报第 12 页。
Source: annual report 2023, pages 17, 131.出处：2023 年年报第 17、131 页。
Source: annual report 2025, page 21.出处：2025 年年报第 21 页。
Source: annual report 2025, page 50.出处：2025 年年报第 50 页。
Source: annual report 2025, page 13.出处：2025 年年报第 13 页。
Revenue and profit营业额与盈利
Assets, liabilities and equity资产、负债与权益
20232023 年
Purchase of property, plant and equipment took RM2,372,614, and purchase of right-of-use assets took RM3,223,328. Term loan financing of RM19,626,307 was drawn for right-of-use assets, while term loan repayments took RM3,083,038. Revolving credit had a net increase of RM1,200,000, and dividends paid took RM1,743,000. Term loans stood at RM55,859,520, and leasehold land and building pledged for bank borrowings was RM94,928,484.购置物业、厂房与设备支出 RM2,372,614，购置使用权资产支出 RM3,223,328。提取定期贷款 RM19,626,307 用于使用权资产，偿还定期贷款支出 RM3,083,038。循环信贷净增 RM1,200,000，支付股息支出 RM1,743,000。定期贷款结余为 RM55,859,520，已抵押作为银行借款担保的租赁土地与建筑物为 RM94,928,484。
Source: annual report 2023, pages 62, 89, 101.出处：2023 年年报第 62、89、101 页。
20242024 年
Purchase of property, plant and equipment was RM1,697,345, and purchase of right-of-use assets was RM683,545. Net cash used in operating activities was RM9,171,079. Deposits rose to RM17,106,985 from RM982,685. Revolving credit increased by RM1,800,000, and dividends paid took RM1,162,000. Term loans reached RM61,761,662, with leasehold land and building of RM93,954,798 pledged for bank borrowings.购置物业、厂房与设备支出 RM1,697,345，购置使用权资产支出 RM683,545。营运活动所用现金净额为 RM9,171,079。定金由 RM982,685 增至 RM17,106,985。循环信贷增加 RM1,800,000，支付股息支出 RM1,162,000。定期贷款达到 RM61,761,662，账面值 RM93,954,798 的租赁土地与建筑物已抵押作为银行借款担保。
Source: annual report 2024, pages 61, 62, 90, 98, 101.出处：2024 年年报第 61、62、90、98、101 页。
20252025 年
Purchase of property, plant and equipment took RM502,542, and purchase of right-of-use assets took RM476,550, while disposal of property, plant and equipment brought RM1,602,971. Repayment of term loans took RM4,138,656, and revolving credit was reduced by RM3,000,000. Term loans rose to RM72,323,101, and progressive payments for leasehold land reached RM31,974,785. Leasehold land and building pledged for bank borrowings was RM92,295,751.购置物业、厂房与设备支出 RM502,542，购置使用权资产支出 RM476,550，出售物业、厂房与设备收回 RM1,602,971。偿还定期贷款支出 RM4,138,656，循环信贷减少 RM3,000,000。定期贷款增至 RM72,323,101，租赁土地累进款项达到 RM31,974,785。已抵押作为银行借款担保的租赁土地与建筑物为 RM92,295,751。
Source: annual report 2025, pages 63, 90, 98, 101.出处：2025 年年报第 63、90、98、101 页。
Across the three years三年合看
Term loans increased from RM39,316,251 in 2022 to RM55,859,520 in 2023, RM61,761,662 in 2024, and RM72,323,101 in 2025. Gross gearing ratio was 0.63 in 2023, 0.70 in 2024, and 0.79 in 2025, against a term loan covenant requiring a gearing ratio of not more than 1.5 times. An interim dividend of 0.35 sen per ordinary share totalling RM0.581 million was declared for 2023, 0.35 sen totalling RM0.581 million for 2024, and 0.30 sen totalling RM0.498 million for 2025.定期贷款由 2022 年的 RM39,316,251 增至 2023 年的 RM55,859,520、2024 年的 RM61,761,662 及 2025 年的 RM72,323,101。总负债比率在 2023 年为 0.63，2024 年为 0.70，2025 年为 0.79，定期贷款契约要求负债比率不超过 1.5 倍。2023 年宣布派发每股 0.35 仙普通股中期股息共计 RM0.581 million，2024 年宣布派发每股 0.35 仙共计 RM0.581 million，2025 年宣布派发每股 0.30 仙共计 RM0.498 million。
Source: annual report 2023, pages 15, 101, 130; annual report 2024, pages 12, 101; annual report 2025, pages 12, 101, 131.出处：2023 年年报第 15、101、130 页；2024 年年报第 12、101 页；2025 年年报第 12、101、131 页。
Still to be spent尚未支出的承诺
Authorised and contracted capital commitments for right-of-use assets were RM113,929,284 in 2025 (2024: RM128,629,379). Capital commitments for property, plant and equipment were RM134,929,420 at end 2023. On 31 January 2024, the company agreed to acquire 3 parcels of leasehold land measuring approximately 12.85 acres in Pulau Indah Industrial Park for approximately RM42.00 million, on which RM31,974,785 of progressive payments had been made by end 2025. There were no proceeds raised from corporate proposals during 2025.已批准并签约的使用权资产资本承诺在 2025 年为 RM113,929,284（2024 年：RM128,629,379）。2023 年底物业、厂房与设备资本承诺为 RM134,929,420。2024 年 1 月 31 日，公司同意以约 RM42.00 million 收购位于英达岛工业园约 12.85 英亩的 3 块租赁土地，截至 2025 年底已支付累进款项 RM31,974,785。2025 年内未从企业方案募集任何资金。
Source: annual report 2023, pages 17, 129, 131; annual report 2025, pages 98, 130, 136.出处：2023 年年报第 17、129、131 页；2025 年年报第 98、130、136 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 | 124,624,170 | 70,191,156 | 87,986,152 | 80,789,459 |
| Profit before tax税前盈利 | 11,706,251 | 3,615,444 | 2,301,126 | 2,209,272 |
| Profit for the financial year本财政年度盈利 | 10,473,926 | 2,468,325 | 1,631,553 | 1,802,321 |
| Dividends paid已付股息 | (1,660,000) | (1,743,000) | (1,162,000) | 0 |
| Total Assets总资产 | 151,060,823 | 168,506,899 | 178,327,778 | 187,637,357 |
| Total equity总权益 | 91,227,708 | 92,649,476 | 93,626,697 | 94,875,102 |
| Total Liabilities总负债 | 59,833,115 | 75,857,423 | 84,701,081 | 92,762,255 |
| Fixed deposits with licensed banks定期存款 | 9,815,736 | 12,059,978 | 6,005,515 | 4,552,800 |
| Cash and bank balances现金与银行结余 | 7,577,194 | 2,701,959 | 3,289,391 | 3,172,146 |
| Fixed deposits pledged with licensed banks已抵押定期存款 | 1,477,069 | 1,484,529 | 1,509,088 | 1,541,111 |
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 |
|---|---|---|
| Expected warehouse 3, in operation from the first quarter of 2024, to bring new income from warehousing and 3PL services in 2024预期自 2024 年第一季度投入运营的 3 号仓库将在 2024 年带来仓储及第三方物流服务的新收入 | Warehousing revenue rose from RM5.69 million in 2023 to RM8.48 million in 2024, with warehouse space of 238,000sf and occupancy of approximately 85%.仓储营业额由 2023 年的 RM5.69 million 增至 2024 年的 RM8.48 million，仓库面积为 238,000 平方英尺，入驻率约 85%。 Source: annual report 2023, page 14; annual report 2024, pages 12, 14.出处：2023 年年报第 14 页；2024 年年报第 12、14 页。 | Warehousing revenue rose仓储营业额上升 |
| Acquisition of 3 parcels of leasehold land of approximately 12.85 acres in Pulau Indah Industrial Park for approximately RM42.00 million, with vacant possession estimated by January 2027 to expand warehousing services in the next 3 to 5 years以约 RM42.00 million 收购英达岛工业园约 12.85 英亩的 3 块租赁土地，预计于 2027 年 1 月交付空置占有权，以便在未来 3 至 5 年扩展仓储服务 | Development reached 35% in 2024 and 70% in 2025, with progressive payments of RM31,974,785 made by end 2025.开发进度于 2024 年达 35%，2025 年达 70%，截至 2025 年底已支付累进款项 RM31,974,785。 Source: annual report 2023, page 17; annual report 2024, page 16; annual report 2025, pages 15, 98.出处：2023 年年报第 17 页；2024 年年报第 16 页；2025 年年报第 15、98 页。 | In progress进行中 |
| Engaging consultant to propose new solar system at Warehouse 3 rooftop (2024)聘请顾问提议在 3 号仓库屋顶安装新太阳能系统（2024 年） | The 2025 report states the group is engaging a consultant to propose the new solar system at Warehouse 3 rooftop.2025 年年报依然表示集团正在聘请顾问提议在 3 号仓库屋顶安装新太阳能系统。 Source: annual report 2024, page 22; annual report 2025, page 22.出处：2024 年年报第 22 页；2025 年年报第 22 页。 | Still in planning仍在规划中 |
| Board intends to continue adopting a dividend payout ratio of 30% of consolidated profit after tax attributable to shareholders excluding non-recurring income董事会拟继续采用占归属于股东的综合税后盈利（不含非经常性收入）30% 的股息派发率 | Interim dividend of 0.35 sen per ordinary share declared for 2024 had a payout ratio of 35%, and interim dividend of 0.30 sen declared for 2025 had a payout ratio of 28%.2024 年宣布的每股 0.35 仙普通股中期股息派发率为 35%，2025 年宣布的每股 0.30 仙中期股息派发率为 28%。 Source: annual report 2023, page 15; annual report 2024, page 12; annual report 2025, page 12.出处：2023 年年报第 15 页；2024 年年报第 12 页；2025 年年报第 12 页。 | Payout ratio 35% for 2024, 28% for 20252024 年派发率 35%，2025 年 28% |
| Management implemented outsourcing of non-core functions, exploring new customers and cost reduction exercises, believing they would result in better profitability for 2025管理层实施了非核心业务外包、开拓新客户及成本削减措施，认为这将使 2025 年盈利表现改善 | Profit before tax fell from RM2,301,126 in 2024 to RM2,209,272 in 2025, while profit for the year rose from RM1,631,553 to RM1,802,321. The 2025 report noted a one-off loss on scrap of unusable old fleet of RM823,254.税前盈利由 2024 年的 RM2,301,126 降至 2025 年的 RM2,209,272，而本年度盈利由 RM1,631,553 增至 RM1,802,321。2025 年年报提及报废无法使用旧车队的一次性亏损 RM823,254。 Source: annual report 2024, page 14; annual report 2025, page 10.出处：2024 年年报第 14 页；2025 年年报第 10 页。 | Profit before tax fell; profit for the year rose税前盈利下降；本年度盈利上升 |
What the reports leave open年报留下待看的事
- Delivery and development of the 12.85 acres of land in Pulau Indah Industrial Park, where development was at 70% and RM31,974,785 had been paid by end 2025, with vacant possession estimated by January 2027.英达岛工业园 12.85 英亩土地的交付与开发进展，截至 2025 年底开发达 70% 并已支付 RM31,974,785，预计于 2027 年 1 月交付空置占有权。
Source: annual report 2025, pages 15, 98.出处：2025 年年报第 15、98 页。
- Fleet rationalisation and replacement, following the scrap of unusable old fleets with a loss of RM823,254 and written-off assets of RM935,490 in 2025.车队整合与更新进展，此前在 2025 年报废无法使用旧车队录得亏损 RM823,254，且注销资产 RM935,490。
Source: annual report 2025, pages 10, 13, 81.出处：2025 年年报第 10、13、81 页。
- Compliance with the term loan financial covenant requiring a gearing ratio of not more than 1.5 times when next tested as at 31 December 2026, with term loans at RM72,323,101 and gross gearing at 0.79.截至 2026 年 12 月 31 日下一次测试时定期贷款财务契约的合规情况，该契约要求负债比率不超过 1.5 倍，而目前定期贷款为 RM72,323,101，总负债比率为 0.79。
Source: annual report 2025, pages 101, 131.出处：2025 年年报第 101、131 页。
- Expiry of the pioneer status certificate providing 70% tax exemption against the company's statutory income on 30 June 2026.为公司法定收入提供 70% 免税优惠的新兴工业地位证书将于 2026 年 6 月 30 日到期。
Source: annual report 2025, page 110.出处：2025 年年报第 110 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-24.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 2026-10-24。