DailySpaceMestron Berhad
0207 · Main Market主板（Main Market） · annual reports 2023 to 2025, 393 entries read2023 至 2025 年报，共读出 393 条
The company这家公司
Mestron manufactures steel poles including standard street light poles, decorative poles, specialty poles and telecommunication monopoles, and trades in lighting products and solar products such as solar panels and inverters. Its subsidiaries Mestron Energy Sdn Bhd and Liziz Biogas Sdn Bhd have been involved in renewable energy projects for solar and biogas since 2022.Mestron 制造钢杆，包括标准路灯杆、装饰杆、特种杆及电信单管杆，并从事照明产品及太阳能产品（如太阳能电池板和逆变器）的贸易。其子公司 Mestron Energy Sdn Bhd 与 Liziz Biogas Sdn Bhd 自 2022 年起参与太阳能及沼气可再生能源项目。
Sources (10)出处（10）
In addition, Mestron Energy Sdn Bhd and Liziz Biogas Sdn Bhd are involved in renewable energy projects for solar and biogas since year 2022.
Our standard street light poles have been certified by SIRIM QAS International Sdn Bhd to be compliant with BS EN 40 – 5:2002. Based on this certification, our standard street light poles have been registered by JKR to be approved for use as street lighting.
Standard Pole 18,686,240 18,292,437
Specialty Pole 22,022,770 21,253,695
Decorative Pole 6,583,010 10,685,971
Telecommunication Pole 9,356,250 20,357,720
In addition, Mestron Energy Sdn Bhd and Liziz Biogas Sdn Bhd are involved in renewable energy projects for solar and biogas since year 2022.
Our Group is currently the authorised distributor for various world-renowned lighting brands, such as Phillips, General Electric, Gruppe, Nikkon and Osram.
In addition, Mestron Energy Sdn Bhd and Liziz Biogas Sdn Bhd are involved in renewable energy projects for solar and biogas since year 2022.
Besides investments in solar projects, Mestron also trades in solar panels and inverters and our Group is currently the authorised distributor various world-renowned solar panel and inverter brands such as Trina, JA Solar, Jinko, Huawei and Solis.
In 2025, the trading segment contributed RM76,780,330 to external revenue, manufacturing contributed RM58,996,671, and renewable energy contributed RM4,896,001. By product, solar contributed RM45,858,695, accessories RM40,598,430, standard poles RM19,169,867, specialty poles RM16,422,602, and decorative poles RM10,587,109. By destination, Malaysia accounted for RM132,170,497 of revenue, Singapore RM5,596,024, Australia RM2,862,413, and Sri Lanka RM44,068. No single customer accounted for 10% or more of group revenue in 2024 or 2025.2025 年，贸易分部向外部客户贡献营业额 RM76,780,330，制造分部贡献 RM58,996,671，可再生能源分部贡献 RM4,896,001。按产品划分，太阳能产品贡献 RM45,858,695，配件 RM40,598,430，标准杆 RM19,169,867，特种杆 RM16,422,602，装饰杆 RM10,587,109。按地区划分，马来西亚占 RM132,170,497，新加坡 RM5,596,024，澳大利亚 RM2,862,413，斯里兰卡 RM44,068。2024 年与 2025 年均无单一客户占集团营业额 10% 或以上。
Sources (11)出处（11）
Standard Pole 19,169,867 19,496,474
Specialty Pole 16,422,602 14,620,161
Decorative Pole 10,587,109 14,643,022
Accessories 40,598,430 56,628,349
Solar 45,858,695 37,615,855 140,673,002 155,279,306
Malaysia 132,170,497 155,279,306
Sri Lanka 44,068 -
Australia 2,862,413 -
Singapore 5,596,024 - 140,673,002 155,279,306
External customers - 58,996,671 76,780,330 4,896,001 - 140,673,002
There are no major customers with revenue equal or more than 10% of the Group’s revenue for the financial years ended 31 December 2025 and 2024.
In the 2025 report, Loon Chin Seng held 177,753,200 shares (17.885%), Por Teong Eng held 114,434,600 shares directly (11.514%) and 34,000,000 shares (3.421%) through his spouse, and Dato' Teo Chee Hong held 62,450,000 shares (6.284%). Shares held in pledged securities accounts included 43,556,600 shares (4.383%) for Por Teong Eng under Kenanga Nominees, 43,290,000 shares (4.356%) for Teo Chee Hong under Affin Hwang Nominees, and 30,500,000 shares (3.069%) for Por Teong Eng under Public Nominees.在 2025 年报中，Loon Chin Seng 持有 177,753,200 股（17.885%），Por Teong Eng 直接持有 114,434,600 股（11.514%）并通过配偶间接持有 34,000,000 股（3.421%），Dato' Teo Chee Hong 持有 62,450,000 股（6.284%）。抵押证券账户中的股份包括 Kenanga Nominees 名下代表 Por Teong Eng 的 43,556,600 股（4.383%）、Affin Hwang Nominees 名下代表 Teo Chee Hong 的 43,290,000 股（4.356%）以及 Public Nominees 名下代表 Por Teong Eng 的 30,500,000 股（3.069%）。
Sources (7)出处（7）
1 POR TEONG ENG 114,434,600 11.514 34,000,000(1) 3.421
2 LOON CHIN SENG 177,753,200 17.885 - -
3 DATO' TEO CHEE HONG 62,450,000 6.284 - -
Deemed interested by virtue of his spouse’s interest pursuant to Section 8 of the Companies Act 2016.
KENANGA NOMINEES (TEMPATAN) SDN BHD 43,556,600 4.383 PLEDGED SECURITIES ACCOUNT FOR POR TEONG ENG
AFFIN HWANG NOMINEES (TEMPATAN) SDN. BHD. 43,290,000 4.356 PLEDGED SECURITIES ACCOUNT FOR TEO CHEE HONG
PUBLIC NOMINEES (TEMPATAN) SDN BHD 30,500,000 3.069 PLEDGED SECURITIES ACCOUNT FOR POR TEONG ENG (E-BPJ)
Mestron transferred to the Main Market of Bursa Malaysia Securities Berhad on 13 December 2023. Dato’ Faiza Binti Zulkifli was appointed Independent Non-Executive Chairperson on 16 June 2023, while Tajul Arifin Bin Mohd Tahir resigned on the same date. Datuk Ir. Mohd Dom Bin Ahmad resigned on 2 May 2024, and Leong Peng Phooi, who resigned on 16 June 2023, was appointed to the Board again on 4 October 2024.Mestron 于 2023 年 12 月 13 日转入马来西亚证券交易所主板。Dato’ Faiza Binti Zulkifli 于 2023 年 6 月 16 日获委任为独立非执行主席，Tajul Arifin Bin Mohd Tahir 于同日辞职。Datuk Ir. Mohd Dom Bin Ahmad 于 2024 年 5 月 2 日辞任，Leong Peng Phooi 曾于 2023 年 6 月 16 日辞职，于 2024 年 10 月 4 日再度获委任为董事。
Sources (6)出处（6）
Dato’ Faiza Binti Zulkifli (appointed w.e.f. 16 June 2023) Independent Non-Executive Chairperson
Mestron was transferred to Main Market of Bursa Malaysia Securities Berhad on 13 December 2023.
Chairman Tajul Arifin Bin Mohd Tahir (resigned w.e.f. 16 June 2023) Independent Non-Executive Chairman
Member Leong Peng Phooi (resigned w.e.f. 16 June 2023) Independent Non-Executive Director Member Ng Kim Cheong (retired on 15 June 2023)
Leong Peng Phooi, aged 68, is our Independent Non-Executive Director. He was appointed to the Board on 4 October 2024.
Datuk Ir. Mohd Dom Bin Ahmad (resigned w.e.f. 2 May 2024) 3/3
Revenue by destination, 20252025 年按地区划分营业额
Sources (4)出处（4）
Malaysia 132,170,497 155,279,306
Sri Lanka 44,068 -
Australia 2,862,413 -
Singapore 5,596,024 - 140,673,002 155,279,306
Major events大事记
Sources (2)出处（2）
Further, with the intention to create values for our shareholders, our first solar projects and biogas plant are completed in December 2022 and March 2023 respectively.
In addition, Mestron Energy Sdn Bhd and Liziz Biogas Sdn Bhd are involved in renewable energy projects for solar and biogas since year 2022.
Sources (2)出处（2）
Further, with the intention to create values for our shareholders, our first solar projects and biogas plant are completed in December 2022 and March 2023 respectively.
The Group’s biogas venture took a big step forward with the completion of a cutting-edge 2MW biogas power plant in Gua Musang, Kelantan. This innovative facility has commenced the supply of power to Tenaga Nasional Berhad
Sources (1)出处（1）
Mestron was transferred to Main Market of Bursa Malaysia Securities Berhad on 13 December 2023.
Sources (2)出处（2）
A On 21 December 2023, the Board of Directors of the Company approved the disposal of 701 ordinary shares of Poshflex Realty Sdn Bhd, representing 70% of the paid-up share capital for a consideration of RM800,000
On 22 December 2023, the Company entered into a share sales agreement for the disposal of 806,000 ordinary shares of WAMSB, representing 10% of the issued and paid-up share capital of WAMSB for a consideration of RM6,000,000. The disposal is completed on 4 April 2024.
Sources (3)出处（3）
The disposal is completed on 2 January 2024.
The disposal is completed on 2 January 2024.
The disposal was completed on 4 April 2024.
Sources (1)出处（1）
@ On 1 July 2024, the Board of Directors of the Company approved the disposal of 3,311,000 ordinary shares of Premier Radiant Builders Sdn Bhd, representing 70% of the paid-up share capital for a consideration of RM3,300,000.
Sources (1)出处（1）
On 31 July 2025, the Group acquired 40,000 ordinary shares of Mestch, which represents 20% of the issued and paid-up share capital of Mestech for a total consideration of RM200,000.
Sources (1)出处（1）
During the financial year, the Company repurchased 4,150,300 of its issued shares from the open market for total consideration paid, including transaction cost of RM773,809.
Revenue, profit and operating cash营业额、利润与营运现金
Assets, borrowings and equity资产、借款与权益
20232023 年
Net cash used in operating activities was RM38,007,135, which the group attributed mainly to repayment to suppliers and an increase in trade receivables. Investing cash outflows included RM8,198,666 for purchase of property, plant and equipment and RM6,122,167 for purchase of right-of-use assets. Financing cash flows generated RM37,098,610, with RM32,950,294 drawn down in borrowings and RM18,256,359 raised from share issues via warrant conversion, while RM8,908,992 of borrowings and RM1,870,291 of lease liabilities were repaid, and RM1,471,201 was paid in dividends. Total borrowings reached RM40,373,256.营运活动所用现金净额为 RM38,007,135，集团说明主要由于向供应商还款以及贸易应收款增加。投资活动现金流出包括购买物业、厂房及设备 RM8,198,666 以及购买使用权资产 RM6,122,167。融资活动产生现金净额 RM37,098,610，其中提取借款 RM32,950,294，通过凭单行使发行股份筹得 RM18,256,359，偿还借款 RM8,908,992 及租赁负债 RM1,870,291，并支付股息 RM1,471,201。借款总额达到 RM40,373,256。
Sources (12)出处（12）
In FYE 2023, our Group recorded net cash outflows of RM38.01 million. This is mainly due to better repayment to suppliers and increase in trade receivables (e.g. Fabulous Sunview) as of FYE 2023.
During the financial year, the Company issued 64,057,400 new ordinary shares for cash arising from conversion of warrant at exercise price of RM0.285 per ordinary share.
Net cash (used in)/from operating activities (38,007,135) 7,285,452 (1,886,162) (764,518)
Purchase of property, plant and equipment (8,198,666) (14,437,733) - -
Purchase of right-of-use assets A (6,122,167) - - -
Proceeds from issuance of share capital 18,256,359 812,535 18,112,093 812,535
Repayment of lease liabilities (1,870,291) (1,049,478) - -
Drawdown of borrowings 32,950,294 16,870,000 - -
Repayment of borrowings (8,908,992) (4,887,546) - -
Dividend paid (1,471,201) (1,209,585) (1,471,201) (1,209,585)
Net cash from/(used in) financing activities 37,098,610 15,890,129 16,728,394 (292,460)
Total borrowings 40,373,256 16,331,954
20242024 年
Net cash used in operating activities was RM1,285,867. Net cash from investing activities was RM683,526, where RM14,444,605 was used for purchase of property, plant and equipment, while RM10,899,538 was received from disposal of assets held for sale, RM3,292,257 from disposal of a subsidiary, and RM11,034,859 from disposal of other investments alongside RM11,587,077 paid for other investments. Financing activities generated RM459,639, with borrowing drawdowns of RM65,410,413 and repayments of RM61,497,655, lease repayments of RM2,305,708, and RM971,138 from warrant conversions. Total borrowings stood at RM44,286,014. No dividend was proposed or paid.营运活动所用现金净额为 RM1,285,867。投资活动所得现金净额为 RM683,526，其中购买物业、厂房及设备支出 RM14,444,605，脱售持有待售资产收回 RM10,899,538，脱售子公司收回 RM3,292,257，脱售其他投资收回 RM11,034,859，同时支付 RM11,587,077 收购其他投资。融资活动产生 RM459,639，其中提取借款 RM65,410,413，偿还借款 RM61,497,655，偿还租赁负债 RM2,305,708，凭单转换筹得 RM971,138。借款总额为 RM44,286,014。未建议或派发股息。
Sources (14)出处（14）
There were no dividends proposed, declared or paid by the Group and Company since the end of the previous financial year.
Net cash used in operating activities (1,285,867) (38,007,135) (1,571,359) (1,886,162)
Acquisition of other investments (11,587,077) - (9,464,232) -
Net cash inflow from disposal of assets held for sales 13 10,899,538 - 6,732,055 -
Net cash inflow from disposal of a subsidary 6.3 3,292,257 - 3,019,725 -
Proceed from disposal of other investments 11,034,859 - 8,981,282 -
Purchase of property, plant and equipment (14,444,605) (8,198,666) - -
Net cash from/(used in) investing activities 683,526 (15,615,017) 2,776,099 (9,861,593)
Drawdown of borrowings 65,410,413 32,950,294 - -
Proceeds from issuance of share capital 971,138 18,256,359 971,138 18,112,093
Repayment of borrowings (61,497,655) (8,908,992) - -
Repayment of lease liabilities (2,305,708) (1,870,291) - -
Net cash from financing activities 459,639 37,098,610 963,330 16,728,394
Total borrowings 44,286,014 40,373,256
20252025 年
Net cash from operating activities was RM31,188,757. Investing activities used RM20,903,688, including RM20,772,181 for purchase of property, plant and equipment and RM200,000 for acquisition of an associate. Financing cash outflows were RM14,190,570. Borrowings of RM65,165,582 were repaid and RM56,408,634 drawn down. Lease repayments took RM2,587,990, and RM773,809 was used to repurchase shares. Total borrowings were RM35,529,066.营运活动所得现金净额为 RM31,188,757。投资活动使用现金 RM20,903,688，包括购买物业、厂房及设备支出 RM20,772,181 以及收购联营公司支出 RM200,000。融资活动现金流出 RM14,190,570。偿还借款 RM65,165,582，提取借款 RM56,408,634。偿还租赁负债 RM2,587,990，并使用 RM773,809 回购股份。借款总额为 RM35,529,066。
Sources (8)出处（8）
Acquisition of an associate (200,000) - - -
Purchase of property, plant and equipment (20,772,181) (14,444,605) - -
Net cash (used in)/from investing activities (20,903,688) 683,526 (3,387,130) 2,776,099
Drawdown of borrowings 56,408,634 65,410,413 - -
Purchase of treasury shares (773,809) - (773,809) -
Repayment of borrowings (65,165,582) (61,497,655) - -
Repayment of lease liabilities (2,587,990) (2,305,708) - -
Net cash (used in)/from financing activities (14,190,570) 459,639 (939,642) 963,330
Across the three years三年合看
Over the three years, operating cash flow moved from net outflows of RM38,007,135 in 2023 and RM1,285,867 in 2024 to an inflow of RM31,188,757 in 2025. Purchase of property, plant and equipment was RM8,198,666 in 2023, RM14,444,605 in 2024, and RM20,772,181 in 2025. The 2024 report said its increase in property, plant and equipment was mainly from solar assets and the factory upgrade. The 2025 report says capital work-in-progress consists of buildings and plant and machinery under construction or installation for production facilities. Total borrowings moved from RM40,373,256 in 2023 to RM44,286,014 in 2024 and RM35,529,066 in 2025. Dividends of RM1,471,201 were paid in 2023, with no dividend proposed or paid in 2024 and 2025.三年间，营运现金流由 2023 年净流出 RM38,007,135 与 2024 年净流出 RM1,285,867 转为 2025 年净流入 RM31,188,757。购买物业、厂房及设备在 2023 年为 RM8,198,666，2024 年为 RM14,444,605，2025 年为 RM20,772,181。2024 年年报说物业、厂房及设备的增加主要来自太阳能资产及厂房升级。2025 年年报说在建工程包括正在建造或安装、拟作生产设施的建筑物及厂房机械。借款总额由 2023 年的 RM40,373,256 升至 2024 年的 RM44,286,014，再降至 2025 年的 RM35,529,066。2023 年派付股息 RM1,471,201，2024 年与 2025 年未建议或派发股息。
Sources (12)出处（12）
Net cash (used in)/from operating activities (38,007,135) 7,285,452 (1,886,162) (764,518)
Purchase of property, plant and equipment (8,198,666) (14,437,733) - -
Dividend paid (1,471,201) (1,209,585) (1,471,201) (1,209,585)
Total borrowings 40,373,256 16,331,954
The increase was mainly due to the increase in property, plant and equipment such as solar assets and upgrade of factory.
There were no dividends proposed, declared or paid by the Group and Company since the end of the previous financial year.
Net cash used in operating activities (1,285,867) (38,007,135) (1,571,359) (1,886,162)
Purchase of property, plant and equipment (14,444,605) (8,198,666) - -
Total borrowings 44,286,014 40,373,256
There were no dividends proposed, declared or paid by the Group and Company since the end of the previous financial year.
Purchase of property, plant and equipment (20,772,181) (14,444,605) - -
Capital work-in-progress consists of buildings and plant and machinery under construction/installation for intended use as production facilities.
Still to be spent尚未支出的承诺
There were no capital commitments not provided for in the audited statements as at 31 December 2023, 2024, or 2025. Gross proceeds of RM25.28 million from the public issue and private placement proceeds were reported as fully utilised in the first quarter of 2023.截至 2023 年、2024 年或 2025 年 12 月 31 日，审计报表中均无未作拨备的资本承诺。首次公开募股筹集的 RM25.28 million 毛收益及私募配售收益已于 2023 年第一季度悉数使用。
Sources (5)出处（5）
There is no capital commitments that had not been provided for in the audited statement of financial position as at 31 December 2023.
The gross proceeds raised from the Public Issue amounting to RM25.28 million are fully utilised in first quarter of the financial year ended 31 December 2023 (“FYE 2023”).
The status of the utilisation of total gross proceeds of private placement are fully utilised in the first quarter of FYE 2023.
There is no capital commitments that had not been provided for in the audited statement of financial position as at 31 December 2024.
There is no capital commitments that had not been provided for in the audited statement of financial position as at 31 December 2025.
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 | 112,160,690 | 148,798,655 | 155,279,306 | 140,673,002 |
| Profit before tax税前利润 | 11,988,216 | 15,754,670 | 9,977,828 | 3,381,333 |
| Profit for the financial year年度利润 | 9,395,523 | 10,897,323 | 6,685,598 | 1,118,052 |
| Net cash (used in)/from operating activities营运活动（所用）/所得现金净额 | 7,285,452 | (38,007,135) | (1,285,867) | 31,188,757 |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (14,437,733) | (8,198,666) | (14,444,605) | (20,772,181) |
| Total assets总资产 | 180,643,844 | 200,484,815 | 216,751,193 | 205,972,231 |
| Total liabilities总负债 | 74,088,984 | 66,391,740 | 75,844,265 | 64,721,060 |
| Total borrowings借款总额 | 16,331,954 | 40,373,256 | 44,286,014 | 35,529,066 |
| Cash and bank balances现金及银行结余 | 33,143,105 | 16,619,101 | 16,476,399 | 12,570,898 |
| Total equity权益总额 | 106,554,860 | 134,093,075 | 140,906,928 | 141,251,171 |
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 |
|---|---|---|
| Biogas plant targeted to achieve 12k tonnes of avoided CO2 emissions under full capacity by 2024 (2023)沼气厂目标于 2024 年满负荷运行下实现 1.2 万吨二氧化碳减排（2023） | The 2024 and 2025 reports shifted the target to 12,000 tonnes or 12k tonnes under full capacity by 2025.2024 与 2025 年报将该目标推迟至 2025 年实现满负荷 12,000 吨或 1.2 万吨减排。Sources (3)出处（3）The plant is target to achieve 12k tonnes of avoided CO2 emissions under full capacity by 2024. The plant is targeted to achieve 12,000 tonnes of avoided CO2 emissions under full capacity by 2025. The plant is target to achieve 12k tonnes of avoided CO2 emissions under full capacity by 2025. | Target deferred to 2025目标延至 2025 年 |
| Disposal of land held for property development by Premier Radiant Builders Sdn Bhd for RM4,100,000 expected to be completed by April 2024Premier Radiant Builders Sdn Bhd 以 RM4,100,000 脱售用于房产开发的土地，预计于 2024 年 4 月完成 | The 2024 report confirmed the disposal of the assets was completed by April 2024.2024 年报确认该资产脱售已于 2024 年 4 月完成。Sources (3)出处（3）(i) On 5 December 2023, the subsidiary, Premier Radiant Builders Sdn Bhd entered into a Sale and Purchase Agreement to dispose the land held for property development for a cash consideration of RM4,100,000. The disposal of the assets is expected to be completed by April 2024. On 5 December 2023, the subsidiary, Premier Radiant Builders Sdn. Bhd. entered into a Sale and Purchase Agreement to dispose the land held for property development for a cash consideration of RM4,100,000. The disposal of the assets is completed by April 2024. | Completed已完成 |
| Anticipated average annual revenue growth of approximately 8.6% per annum for the energy segment (2023)能源部门预计年均营业额增长率约为 8.6%（2023） | The 2024 impairment test used a projection of about 14% a year; the 2025 test used about 4% a year.2024 年减值测试采用约每年 14% 的预测；2025 年测试采用约每年 4%。Sources (3)出处（3）- Revenue from energy segment was projected at anticipated average annual revenue growth of approximately 8.6% (2022: 11%) per annum; and - Revenue from energy segment was projected at anticipated average annual revenue growth of approximately 14% (2023: 8.6%) per annum; and Revenue from energy segment was projected at anticipated average annual revenue growth of approximately 4% (2024: 14%) per annum; and | Later projections 14%, then 4%其后预测为 14%，再为 4% |
| Capitalise on 5G infrastructure rollout to expand sales of specialty and telecommunication poles (2023)借助 5G 基础设施推进，扩大特种杆与电信杆销售（2023） | Telecommunication pole revenue was RM9,356,250 in 2023, RM1,411,200 in 2024 and RM1,588,400 in 2025.电信杆营业额在 2023 年为 RM9,356,250，2024 年为 RM1,411,200，2025 年为 RM1,588,400。Sources (4)出处（4）• Expand the sales of high mast and telecommunication monopole products and capitalise on the gradual rollout of 5G connectivity infrastructure in Malaysia Telecommunication Pole 9,356,250 20,357,720 Telecommunication Pole 1,411,200 9,356,250 Telecommunication Pole 1,588,400 1,411,200 | Sales lower than in 2023销售额低于 2023 年 |
What the reports leave open年报留下待看的事
- Warrants 2021/2026: 383,134,100 warrants remain unexercised at an exercise price of RM0.285 before expiring on 17 August 2026.2021/2026 年凭单：383,134,100 份凭单尚未行使，行使价为 RM0.285，将于 2026 年 8 月 17 日到期。
Sources (3)出处（3）
Each Warrant 2021/2026 entitles the registered holder to subscribe for one (1) new ordinary share in the Company at any time on or before the maturity date 17 August 2026, falling five (5) years from the date of issue of the Warrants 2021/2026.
The exercise price of the Warrants is fixed at RM0.285 per Warrant;
As at 31 December 383,134,100 383,134,100
- Revenue after the end of the Sunview project: the Sunview Large-Scale Solar Project accounted for about RM60 million in previous years and ended during 2025.Sunview 项目结束后的营业额：Sunview 大型太阳能项目在过往年度占约 RM60 million，并在 2025 年期间结束。
Sources (2)出处（2）
The decrease was due to the end of both JENDELA phase 1 project as well as Sunview Large-Scale Solar Project during the year.
The decrease in revenue was mainly due to the deliveries for solar panels, inverter and solar components from domestic market due to the end of the Sunview Large-Scale Solar Project which accounted for about RM60 million in the previous years.
- Inventories and overdue receivables: inventories were RM36,390,028, with finished goods at RM21,152,568 against RM11,563,038 a year earlier, and past due trade receivables not impaired were RM15,580,615.存货与逾期应收款：存货为 RM36,390,028，其中制成品为 RM21,152,568，上一年为 RM11,563,038；未减值的逾期贸易应收款为 RM15,580,615。
Sources (3)出处（3）
The Group holds significant amount of inventories amounting to RM36,390,028 as disclosed in Note 8 to the financial statements which are subject to a risk that the inventories might become slow-moving or obsolete
The Group has a material amount of trade receivables amounting to RM15,580,615 as disclosed in Note 31.2(a)(i) to the financial statements whereby the amount is past due but not impaired.
Finished goods 21,152,568 11,563,038
- Capital work-in-progress: additions were RM15,832,873 in 2025, for buildings and plant and machinery under construction or installation for production facilities. The list of properties includes industrial land with a multi storey hostel and factory construction in progress.在建工程：2025 年新增 RM15,832,873，为正在建造或安装、拟作生产设施的建筑物及厂房机械。物业清单包括一块工业地，其上多层宿舍及厂房正在建造中。
Sources (3)出处（3）
Additions - 673,098 686,548 192,014 256,474 108,802 2,190,105 - 19,318 15,832,873 812,949 20,772,181
Capital work-in-progress consists of buildings and plant and machinery under construction/installation for intended use as production facilities.
One (1) parcel of vacant industrial land with a multi storey hostel and factory construction in progress.
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-16.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 2026-10-16。