DailySpaceKim Hin Joo (Malaysia) Berhad
0210 · ACE Market创业板（ACE Market） · annual reports 2023 to 2025, 350 entries read2023 至 2025 年报，共读出 350 条
Revenue, 20252025 年营业额RM77.1m7.71千万令吉down 16.7% from比 2024 年减少 16.7%，当年为 RM92.6m9.26千万令吉 in 2024
(Loss)/Profit before tax, 20252025 年税前（亏损）/盈利–RM3.72m–372万令吉up 37.9% from比 2024 年增加 37.9%，当年为 –RM2.70m–270万令吉 in 2024
Net cash from operating activities, 20252025 年营运活动所得现金净额RM14.9m1.49千万令吉down 27.8% from比 2024 年减少 27.8%，当年为 RM20.7m2.07千万令吉 in 2024
Total equity, 20252025 年总权益RM68.0m6.80千万令吉down 6.6% from比 2024 年减少 6.6%，当年为 RM72.8m7.28千万令吉 in 2024
The company这家公司
Kim Hin Joo (Malaysia) Berhad retails and distributes maternity, baby, toys and children's wear and related products through retail outlets, online platforms, wholesale networks and other channels, operating primarily in Malaysia.Kim Hin Joo (Malaysia) Berhad 通过零售店、线上平台、批发网络等渠道零售及分销孕妇、婴儿、玩具与童装及相关产品，主要在马来西亚运营。
Sources (2)出处（2）
With effect from 1 April 2025, the principal activity of the Company has changed to retailing and distribution of maternity, baby, toys and children's wear and related product through retail outlets, online platforms, wholesale networks and other channels.
Geographical information is not presented as the Group operates primarily in Malaysia.
Products are primarily sourced from Mothercare UK, ELC UK and The Entertainer UK under formal development and operational agreements.产品主要根据与英国各品牌商签订的正式开发与运营协议，自 Mothercare UK、ELC UK 以及 The Entertainer UK 采购。
Sources (1)出处（1）
We primarily source our products from Mothercare UK, ELC UK and The Entertainer UK, operating under formal Development and Operational Agreements with our respective UK principals.
In 2025 the retail segment contributed RM67.60 million (87.65% of revenue) and the distribution segment contributed RM9.53 million (12.35%). The retail network had 21 Mothercare outlets in 2023, 19 in 2024, and 14 in 2025, alongside a planned full exit from ELC SIS and The Entertainer outlets by 2026.2025 年，零售业务贡献 RM67.60 million（占营业额 87.65%），分销业务贡献 RM9.53 million（占 12.35%）。零售网络在 2023 年拥有 21 家 Mothercare 门店，2024 年为 19 家，2025 年降至 14 家，并计划在 2026 年前完全退出 ELC 店中店与 The Entertainer 概念店。
Sources (6)出处（6）
At the close of our financial year ended 31 December 2023 (“FYE2023”), KJH had 21 Mothercare outlets, 2 of which are “Experiential Concept” stores; 14 ELC SIS outlets; and 6 The Entertainer outlets in operations nationwide.
19 Mothercare outlets
14 Mothercare outlets
For the year under review, the Retail segment recorded revenue of RM67.60 million, representing 87.65% of the Group’s total revenue.
In FYE2025, the Distribution segment recorded revenue of RM9.53 million, contributed 12.35% of our Group’s total revenue for the year under review.
In parallel, we commenced the gradual exit of ELC SIS and The Entertainer outlets, with the intention to fully exit the concept by 2026.
In 2025 the group transferred all assets and liabilities of subsidiaries Queemay Toys (Malaysia) Sdn Bhd and Global Product Solutions Sdn Bhd to the company, leaving all subsidiaries dormant. On 10 October 2025, the company entered into a scheme arrangement with Arvex Berhad for a share exchange of 380,000,000 ordinary shares to assume the listing status of KHJ.2025 年，集团将子公司 Queemay Toys (Malaysia) Sdn Bhd 和 Global Product Solutions Sdn Bhd 的所有资产与负债转让给母公司，此后所有子公司均处于休眠状态。2025 年 10 月 10 日，公司与 Arvex Berhad 签订协议安排，拟以 380,000,000 股普通股换股并由后者承接 KHJ 的上市地位。
Sources (6)出处（6）
All the subsidiaries are dormant.
The Board of Directors of the Company resolved to transfer all assets and liabilities of subsidiary companies, Queemay Toys (Malaysia) Sdn Bhd (“QMT”) and Global Product Solutions Sdn Bhd (“GPS”) (collectively, “Transfer of Business”) to the Company effective 1 January 2025 and 1 April 2025
QMT and GPS became dormant then onwards.
On 10 October 2025, the Company had entered into a conditional scheme agreement (“Scheme Arrangement”) with Arvex Berhad (“Arvex”), a newly incorporated company established to serve as the holding company of Kim Hin Joo (Malaysia) Berhad (“KHJ”)
i) proposed shares exchange of 380,000,000 ordinary shares in KHJ (“KHJ Share(s)”), representing the entire issued share capital of KHJ with 380,000,000 new ordinary shares in Arvex
ii) proposed assumption of the listing status of KHJ by Arvex as well as the admission of Arvex to and withdrawal of KHJ from the Official List of Bursa Malaysia Securities Berhad (“Bursa Securities”)
Kim Hin International Pte Ltd holds 235,600,000 shares (62.00%) as the holding company, while Pang Kim Hin holds 11,280,700 shares (2.97%) directly and 235,600,000 shares (62.00%) indirectly. Pang Shu Ming holds 1,000,000 shares (0.26%), and Chew Soo Lin holds 800,000 shares in a pledged securities account.母公司 Kim Hin International Pte Ltd 持有 235,600,000 股（62.00%），Pang Kim Hin 直接持有 11,280,700 股（2.97%）并间接持有 235,600,000 股（62.00%）。Pang Shu Ming 持有 1,000,000 股（0.26%），Chew Soo Lin 在质押证券账户中持有 800,000 股。
Sources (7)出处（7）
Pang Kim Hin* 235,600,000 - - 235,600,000
Chew Soo Lin# 800,000 - - 800,000
The directors regard Kim Hin International Pte Ltd, a company incorporated in Singapore, as the holding company.
Kim Hin International Pte Ltd (“KHI”) 235,600,000 62.00 - -
Pang Kim Hin 11,280,700 2.97 235,600,000 (1) 62.00
Pledged Securities Account for Chew Soo Lin
28. Pang Shu Ming 1,000,000 0.26
Pang Kim Hin is the father of Managing Director Pang Fu Wei and of Pang Shu Ming, to whom he relinquished his executive roles in KHJ in 2015. Yen Se-Hua Stewart resigned as a director on 1 July 2024, while Christina Kang joined as Head of Distribution in January 2024 and Aaron Ang joined as Chief of Staff in May 2025.Pang Kim Hin 是董事总经理 Pang Fu Wei 以及 Pang Shu Ming 的父亲，并于 2015 年将 KHJ 的执行职务移交予 Pang Shu Ming。Yen Se-Hua Stewart 于 2024 年 7 月 1 日辞任董事；Christina Kang 于 2024 年 1 月加入担任分销主管，Aaron Ang 于 2025 年 5 月加入担任幕僚长。
Sources (7)出处（7）
Mr Pang Kim Hin is the father of Mr Pang Fu Wei, who is our Managing Director. Mr Pang Kim Hin is a major shareholder of KHJ and also a Director and major shareholder of Kim Hin International Pte Ltd (“KHI”), a major shareholder of KHJ.
Ms Christina Kang joined our Group as Head of Distribution in January 2024
During the year under review, Mr Yen Se-Hua Stewart resigned as a Director and member of all the Board committees on 1 July 2024.
In 2015, he relinquished all his roles in Mothercare SG to his son, Mr Pang Fu Wei, as well as his executive roles in KHJ to his daughter, Ms Pang Shu Ming.
Mr Pang Kim Hin is the father of Mr Pang Fu Wei, who is our Managing Director.
In 2015, he relinquished all his roles in Mothercare SG to his son, Mr Pang Fu Wei, as well as his executive roles in KHJ to his daughter, Ms Pang Shu Ming.
Mr Aaron Ang joined our Group as Chief of Staff in May 2025, where he leads strategic planning, commercial alignment, and operational performance across the Group’s retail and distribution businesses.
Revenue by segment, 20252025 年各分部营业额占比
Retail 87.65%零售 87.65%Distribution 12.35%分销 12.35%
Sources (2)出处（2）
For the year under review, the Retail segment recorded revenue of RM67.60 million, representing 87.65% of the Group’s total revenue.
In FYE2025, the Distribution segment recorded revenue of RM9.53 million, contributed 12.35% of our Group’s total revenue for the year under review.
Major events大事记
2021On 18 June 2021, the company established an ESOS of up to 15% of the total number of issued ordinary shares.2021 年 6 月 18 日，公司设立了占已发行普通股总数至多 15% 的雇员认股计划（ESOS）。
Sources (1)出处（1）
On 18 June 2021, the Company established an ESOS of up to 15% of the total number of issued ordinary shares in the Company (excluding treasury shares, if any), at any point in time throughout the duration of the ESOS to eligible director(s) and employees of the Company and its subsidiary companies.
2023On 29 December 2023, the company decreased its investment in subsidiary Global Retail Network Sdn Bhd by RM1,500,000 to settle an amount due to the subsidiary.2023 年 12 月 29 日，公司通过抵销应付子公司款项，减少对子公司 Global Retail Network Sdn Bhd 的投资 RM1,500,000。
Sources (1)出处（1）
On 29 December 2023, the Company decreased its investment in subsidiary company, Global Retail Network Sdn Bhd by RM1,500,000, by way of settling the amount due to subsidiary company.
2024Christina Kang joined as Head of Distribution in January 2024, and Yen Se-Hua Stewart resigned as a director on 1 July 2024.Christina Kang 于 2024 年 1 月加入担任分销主管，Yen Se-Hua Stewart 于 2024 年 7 月 1 日辞任董事。
Sources (2)出处（2）
Ms Christina Kang joined our Group as Head of Distribution in January 2024
During the year under review, Mr Yen Se-Hua Stewart resigned as a Director and member of all the Board committees on 1 July 2024.
2025On 1 April 2025, the company's principal activity changed to retailing and distribution; the business of subsidiaries Queemay Toys (Malaysia) Sdn Bhd and Global Product Solutions Sdn Bhd was transferred to the company effective 1 January 2025 and 1 April 2025.2025 年 4 月 1 日，公司主要业务变更为零售与分销；子公司 Queemay Toys (Malaysia) Sdn Bhd 与 Global Product Solutions Sdn Bhd 的业务分别自 2025 年 1 月 1 日及 4 月 1 日起转入公司。
Sources (2)出处（2）
With effect from 1 April 2025, the principal activity of the Company has changed to retailing and distribution of maternity, baby, toys and children's wear and related product through retail outlets, online platforms, wholesale networks and other channels.
The Board of Directors of the Company resolved to transfer all assets and liabilities of subsidiary companies, Queemay Toys (Malaysia) Sdn Bhd (“QMT”) and Global Product Solutions Sdn Bhd (“GPS”) (collectively, “Transfer of Business”) to the Company effective 1 January 2025 and 1 April 2025
2025Aaron Ang joined as Chief of Staff in May 2025.Aaron Ang 于 2025 年 5 月加入担任幕僚长。
Sources (1)出处（1）
Mr Aaron Ang joined our Group as Chief of Staff in May 2025, where he leads strategic planning, commercial alignment, and operational performance across the Group’s retail and distribution businesses.
2025On 10 October 2025, the company entered into a conditional scheme agreement with Arvex Berhad to exchange 380,000,000 ordinary shares and assume its listing status.2025 年 10 月 10 日，公司与 Arvex Berhad 签订附条件协议安排，拟换股 380,000,000 股普通股并由后者承接上市地位。
Sources (3)出处（3）
On 10 October 2025, the Company had entered into a conditional scheme agreement (“Scheme Arrangement”) with Arvex Berhad (“Arvex”), a newly incorporated company established to serve as the holding company of Kim Hin Joo (Malaysia) Berhad (“KHJ”)
i) proposed shares exchange of 380,000,000 ordinary shares in KHJ (“KHJ Share(s)”), representing the entire issued share capital of KHJ with 380,000,000 new ordinary shares in Arvex
ii) proposed assumption of the listing status of KHJ by Arvex as well as the admission of Arvex to and withdrawal of KHJ from the Official List of Bursa Malaysia Securities Berhad (“Bursa Securities”)
Revenue and operating cash flow营业额与营运现金流
Revenue营业额
2022
RM104.6m1.05亿令吉
2023
RM95.8m9.58千万令吉
2024
RM92.6m9.26千万令吉
2025
RM77.1m7.71千万令吉
Net cash from operating activities营运活动所得现金净额
2022
RM10.8m1.08千万令吉
2023
RM11.3m1.13千万令吉
2024
RM20.7m2.07千万令吉
2025
RM14.9m1.49千万令吉
Assets, equity and liabilities资产、权益与负债
Total assets总资产
2022
RM119.7m1.20亿令吉
2023
RM103.8m1.04亿令吉
2024
RM88.0m8.80千万令吉
2025
RM91.7m9.17千万令吉
Total equity总权益
2022
RM79.3m7.93千万令吉
2023
RM76.3m7.63千万令吉
2024
RM72.8m7.28千万令吉
2025
RM68.0m6.80千万令吉
Total liabilities总负债
2022
RM40.3m4.03千万令吉
2023
RM27.5m2.75千万令吉
2024
RM15.1m1.51千万令吉
2025
RM23.7m2.37千万令吉
20232023 年
Capital expenditure on plant and equipment took RM850,421, while lease liabilities repayments used RM7,398,841 and interest paid was RM755,197. Dividends paid amounted to RM2,280,000. Year-end inventories stood at RM52,355,344, with RM377,209 recognised in write-downs and RM732,797 written off.购置厂房与设备支出 RM850,421，偿还租赁负债用去 RM7,398,841，已付利息为 RM755,197。已付股息达 RM2,280,000。期末存货结余为 RM52,355,344，其中确认存货跌价 RM377,209，报废 RM732,797。
Sources (8)出处（8）
On 30 May 2023, the Company declared a final dividend of 0.6 sen per ordinary share amounted to RM2,280,000 in respect of the financial year ended 31 December 2022 has been approved by shareholders at the Forty-Second Annual General Meeting held on 30 May 2023, which was paid on 18 August 2023.
As at 31 December 2023, the inventories balance of the Group and of the Company stood at RM52,355,344 and RM38,762,434, respectively, which represents approximately 50% and 44% of the total assets of the Group and of the Company.
During the financial year, RM377,209 and RM27,693 has been recognised in profit or loss of the Group and of the Company, respectively, as disclosed in Note 6 to the financial statements, which represent write down of inventories to their net realisable values.
Acquisition of plant and equipment (850,421) (5,482,421) (776,646) (4,565,733)
Dividend paid (2,280,000) (3,800,000) (2,280,000) (3,800,000)
Interest paid (755,197) (812,270) (649,415) (708,308)
Repayment of lease liabilities (Note 22) (7,398,841) (7,139,463) (6,648,991) (6,454,676)
Inventories written off 732,797 364,991 321,046 277,098
20242024 年
Stock holdings were reduced from RM52.4 million to RM33.1 million, ending with an inventories balance of RM33,134,036. Capital expenditure on plant and equipment was RM1,381,122, repayment of lease liabilities used RM6,670,507, and dividends paid took RM380,000. Cash and bank balances, including fixed deposits, reached RM33.9 million with zero borrowings, while fixed deposits pledged increased by RM1,159,099.存货结余由 RM52.4 million 降至 RM33.1 million，期末存货结余为 RM33,134,036。购置厂房与设备支出为 RM1,381,122，偿还租赁负债用去 RM6,670,507，已付股息为 RM380,000。包括定期存款在内的现金与银行结余达 RM33.9 million，且无任何借款，抵押定期存款增加了 RM1,159,099。
Sources (9)出处（9）
On both tasks, we have delivered and reduced our stock holdings from RM52.4 million on 1st January 2024 to RM33.1 million on 31st December 2024.
As for our cash position, we have increased from RM19.5 million on 1st January 2024 to RM33.9 million on 31st December 2024.
As at FYE2024, our Group’s cash and bank balances, including fixed deposits with licensed banks, were valued at RM33.9 million, with zero borrowings.
On 15 April 2024, the Company declared a final dividend of 0.1 sen per ordinary share amounted to RM380,000 in respect of the financial year ended 31 December 2023 has been approved by shareholders at the Forty-Third Annual General Meeting held on 30 May 2024, which was paid on 19 August 2024.
As at 31 December 2024, the inventories balance of the Group and of the Company stood at RM33,134,036 and
Acquisition of plant and equipment (1,381,122) (850,421) (1,208,535) (776,646)
Increase in fixed deposits pledged (1,159,099) (10,338) (1,159,099) (10,338)
Dividend paid (380,000) (2,280,000) (380,000) (2,280,000)
Repayment of lease liabilities (Note 22) (6,670,507) (7,398,841) (5,995,112) (6,648,991)
20252025 年
The group spent RM2,222,468 on acquisition of plant and equipment, placed RM6,000,000 into short-term investments, and paid RM4,724,876 for lease liabilities principal along with RM516,727 in interest. Dividends paid took RM380,000. Inventories finished at RM23,702,951, while cash and bank balances including fixed deposits reached RM36,100,251.集团购置厂房与设备支出 RM2,222,468，投入短期投资 RM6,000,000，偿还租赁负债本金 RM4,724,876 及利息 RM516,727。已付股息用去 RM380,000。期末存货为 RM23,702,951，包括定期存款在内的现金与银行结余达 RM36,100,251。
Sources (9)出处（9）
On 16 April 2025, the Company declared a final dividend of 0.1 sen per ordinary share amounted to RM380,000 in respect of the financial year ended 31 December 2024 has been approved by shareholders at the Forty-Fourth Annual General Meeting held on 28 May 2025, which was paid on 18 August 2025.
As at 31 December 2025, the inventories balance of the Group and of the Company stood at RM23,702,951, which represents approximately 26% of the total assets of the Group and of the Company.
Acquisition of plant and equipment [Note (a)] (2,222,468) (1,381,122) (2,697,922) (1,208,535)
(Increase)/Decrease in short-term investments (6,000,000) 2,038,980 (6,000,000) 2,038,980
Increase in fixed deposits pledged (68,489) (1,159,099) (68,489) (1,159,099)
Dividend paid (380,000) (380,000) (380,000) (380,000)
Interest paid (516,727) (604,598) (516,727) (509,868)
Repayment of lease liabilities - principal (Note 22) (4,724,876) (6,670,507) (4,724,876) (5,995,112)
Hong Kong Dollar - 988 - 988 36,100,251 33,954,150 36,009,148 27,776,850
Across the three years三年合看
Repayment of lease liabilities took RM7,398,841 in 2023, RM6,670,507 in 2024, and RM4,724,876 in 2025. Dividends of 0.1 sen per share were proposed in 2023, 2024, and 2025, and dividends paid totalled RM2,280,000 in 2023, RM380,000 in 2024, and RM380,000 in 2025. Inventories were reduced from RM52,355,344 at end 2023 to RM33,134,036 at end 2024 and RM23,702,951 at end 2025.偿还租赁负债在 2023 年用去 RM7,398,841，2024 年用去 RM6,670,507，2025 年用去 RM4,724,876。2023、2024 及 2025 年均建议派发每股 0.1 仙股息，已付股息总额在 2023 年为 RM2,280,000，2024 年为 RM380,000，2025 年为 RM380,000。期末存货从 2023 年底的 RM52,355,344 缩减至 2024 年底的 RM33,134,036 以及 2025 年底的 RM23,702,951。
Sources (15)出处（15）
As a reward to our shareholders, the first and final dividend of 0.1 sen per share in respect of FYE2023 will be declared at our AGM on 30 May 2024.
On 30 May 2023, the Company declared a final dividend of 0.6 sen per ordinary share amounted to RM2,280,000 in respect of the financial year ended 31 December 2022 has been approved by shareholders at the Forty-Second Annual General Meeting held on 30 May 2023, which was paid on 18 August 2023.
The directors proposed a final dividend of 0.1 sen per ordinary share amounting to approximately RM380,000 in respect of the financial year ended 31 December 2023.
As at 31 December 2023, the inventories balance of the Group and of the Company stood at RM52,355,344 and RM38,762,434, respectively, which represents approximately 50% and 44% of the total assets of the Group and of the Company.
Repayment of lease liabilities (Note 22) (7,398,841) (7,139,463) (6,648,991) (6,454,676)
To reward our loyal shareholders, on behalf of our Board, I am pleased to recommend a dividend of 0.1 sen per share.
The directors proposed a final dividend of 0.1 sen per ordinary share amounting to approximately RM380,000 in respect of the financial year ended 31 December 2024.
As at 31 December 2024, the inventories balance of the Group and of the Company stood at RM33,134,036 and
Dividend paid (380,000) (2,280,000) (380,000) (2,280,000)
Repayment of lease liabilities (Note 22) (6,670,507) (7,398,841) (5,995,112) (6,648,991)
To recognise the continued support of our shareholders, the Board is pleased to recommend a dividend of 0.1 sen per share.
The directors proposed a final dividend of 0.1 sen per ordinary share amounting to approximately RM380,000 in respect of the financial year ended 31 December 2025.
As at 31 December 2025, the inventories balance of the Group and of the Company stood at RM23,702,951, which represents approximately 26% of the total assets of the Group and of the Company.
Dividend paid (380,000) (380,000) (380,000) (380,000)
Repayment of lease liabilities - principal (Note 22) (4,724,876) (6,670,507) (4,724,876) (5,995,112)
Still to be spent尚未支出的承诺
Capital commitments contracted but not provided for stood at RM130,678 at end 2024 and RM48,750 at end 2025.在 2024 年底，已签约但未拨备的资本承诺为 RM130,678，2025 年底为 RM48,750。
Sources (2)出处（2）
Contracted but not provided for 130,678 -
Contracted but not provided for 48,750 130,678
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 | 104,635,464 | 95,795,164 | 92,583,994 | 77,129,394 |
| (Loss)/Profit before tax税前（亏损）/盈利 | 6,800,508 | (730,098) | (2,695,579) | (3,718,238) |
| (Loss)/Profit for the year年度（亏损）/净利 | 4,837,497 | (786,214) | (3,050,913) | (4,438,805) |
| Net cash from operating activities营运活动所得现金净额 | 10,813,134 | 11,272,712 | 20,690,033 | 14,932,499 |
| Acquisition of plant and equipment购置厂房与设备 | (5,482,421) | (850,421) | (1,381,122) | (2,222,468) |
| Dividend paid已付股息 | (3,800,000) | (2,280,000) | (380,000) | (380,000) |
| Total assets总资产 | 119,660,521 | 103,818,474 | 87,976,125 | 91,673,605 |
| Total liabilities总负债 | 40,321,304 | 27,545,471 | 15,134,035 | 23,650,320 |
| Fixed deposits with licensed banks持牌银行定期存款 | 7,410,693 | 6,097,099 | 16,204,176 | 27,704,443 |
| Cash and bank balances现金与银行结余 | 11,666,054 | 13,410,463 | 17,749,974 | 8,395,808 |
| Total equity总权益 | 79,339,217 | 76,273,003 | 72,842,090 | 68,023,285 |
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 |
|---|---|---|
| Re-evaluate retail store portfolio and streamline retail footprint (2023)重新评估现有门店组合并精简零售网络（2023） | Closed non-profitable outlets, reducing Mothercare stores from 21 in 2023 to 19 in 2024 and 14 in 2025.关闭了未盈利门店，Mothercare 门店从 2023 年的 21 家减至 2024 年的 19 家及 2025 年的 14 家。Sources (7)出处（7）We will continue to streamline our retail footprint whilst focusing to expand our distribution business. At the close of our financial year ended 31 December 2023 (“FYE2023”), KJH had 21 Mothercare outlets, 2 of which are “Experiential Concept” stores; 14 ELC SIS outlets; and 6 The Entertainer outlets in operations nationwide. As we head into FYE2024, we will re-evaluate our portfolio of existing stores and develop an action plan to address the identified areas for improvement to enhance our operational effectiveness. 19 Mothercare outlets The closure of underperforming stores, though a difficult decision, has enabled us to allocate resources more effectively to areas with stronger growth potential. In line with our strategic focus on maximising store performance, we did not open new outlets but instead, closed non-profitable ones. 14 Mothercare outlets | Carried out已执行 |
| Consolidate subsidiaries GPSSB and QTSB into a single operating entity effective 1 January 2025 and 1 April 2025 (2024)于 2025 年 1 月 1 日及 4 月 1 日起将子公司 GPSSB 和 QTSB 整合为单一营运实体（2024） | Transferred all assets and liabilities of both subsidiaries to the company, leaving the subsidiaries dormant.将两家子公司的所有资产与负债转至母公司，各子公司转为休眠状态。Sources (6)出处（6）Additionally, we are completing our corporate restructuring to consolidate GPSSB and QTSB into a single operating entity, further improving efficiency and operational effectiveness. transfer all assets and liabilities of subsidiary companies, Queemay Toys (Malaysia) Sdn Bhd (“QMT”) and Global Product Solutions Sdn Bhd (“GPS”) (collectively, “Transfer of Business”) to the Company effective 1 January 2025 and 1 April 2025 onwards, respectively. All the subsidiaries are dormant. Similarly, the restructuring of the Group into a single operating entity in 2025 has begun to bear fruit, improving productivity, simplifying operations and reducing duplication and working capital intensity. The Board of Directors of the Company resolved to transfer all assets and liabilities of subsidiary companies, Queemay Toys (Malaysia) Sdn Bhd (“QMT”) and Global Product Solutions Sdn Bhd (“GPS”) (collectively, “Transfer of Business”) to the Company effective 1 January 2025 and 1 April 2025 QMT and GPS became dormant then onwards. | Completed已完成 |
| Expand distribution portfolio by securing new brands (2023)通过获取新品牌拓展分销业务组合（2023） | In 2025, secured rights to brands including Jamie Kay, Snuggle Bunnies, Noodoll and Mini Monkey.2025 年获得了包括 Jamie Kay、Snuggle Bunnies、Noodoll 及 Mini Monkey 在内的品牌经销权。Sources (3)出处（3）For our distribution segment, we will continue to work on securing new brands to enhance our product portfolio, capture new market segments, and strengthen competitiveness. In FYE2024, we expanded our distribution portfolio by securing the rights for premium baby brands such as In FYE2025, we also expanded our portfolio by securing the rights to several premium baby and children brands, including Jamie Kay, Snuggle Bunnies, Noodoll and Mini Monkey, with additional brands in the pipeline. | Carried out已执行 |
| First and final dividend of 0.1 sen per share proposed for FYE2023, amounting to approximately RM380,000 (2023)建议就 2023 财政年度派发每股 0.1 仙的首期兼终期股息，总额约 RM380,000（2023） | Approved at the AGM on 30 May 2024 and paid on 19 August 2024, with RM380,000 paid.于 2024 年 5 月 30 日股东大会获批，并于 2024 年 8 月 19 日派发，已付 RM380,000。Sources (4)出处（4）As a reward to our shareholders, the first and final dividend of 0.1 sen per share in respect of FYE2023 will be declared at our AGM on 30 May 2024. The directors proposed a final dividend of 0.1 sen per ordinary share amounting to approximately RM380,000 in respect of the financial year ended 31 December 2023. On 15 April 2024, the Company declared a final dividend of 0.1 sen per ordinary share amounted to RM380,000 in respect of the financial year ended 31 December 2023 has been approved by shareholders at the Forty-Third Annual General Meeting held on 30 May 2024, which was paid on 19 August 2024. Dividend paid (380,000) (2,280,000) (380,000) (2,280,000) | Paid已派发 |
| Refurbish high-potential stores to revitalise retail experience (2024)翻新具潜力的门店以重振零售体验（2024） | In 2025, capital expenditure of RM2.22 million went primarily to store refurbishments and infrastructure improvements.2025 年资本支出 RM2.22 million，主要用于门店翻新与基础设施改善。Sources (2)出处（2）We will continue to refurbish high-potential stores to revitalise the customer experience and maximise sales potential. Our capital expenditure for FYE2025 amounted to RM2.22 million, primarily allocated towards store refurbishments and infrastructure improvements. | Carried out已执行 |
What the reports leave open年报留下待看的事
- Completion of the proposed internal reorganisation with Arvex Berhad, which was pending conditions precedent as at 15 April 2026 to exchange 380,000,000 shares.与 Arvex Berhad 拟议内部重组的完成情况，截至 2026 年 4 月 15 日尚待满足先决条件，涉及换股 380,000,000 股。
Sources (2)出处（2）
i) proposed shares exchange of 380,000,000 ordinary shares in KHJ (“KHJ Share(s)”), representing the entire issued share capital of KHJ with 380,000,000 new ordinary shares in Arvex
As at 15 April 2026, the Proposed Internal Reorganisation has yet to be completed as it is subject to fulfilment of the conditions precedent as set out in the Scheme Arrangement.
- The planned complete exit from ELC SIS and The Entertainer retail concepts by 2026.计划于 2026 年前彻底退出 ELC 店中店及 The Entertainer 零售概念店。
Sources (2)出处（2）
In parallel, we commenced the gradual exit of ELC SIS and The Entertainer outlets, with the intention to fully exit the concept by 2026.
As part of this strategy, the Group will complete the exit from The Entertainer concept, allowing management to focus resources on core retail formats and channels with stronger profitability and growth potential.
- Commencement of the winding-up process for the dormant subsidiary companies in the financial year ending 31 December 2026.拟于截至 2026 年 12 月 31 日止财政年度启动休眠子公司的清盘程序。
Sources (1)出处（1）
* The directors of the subsidiary companies has expressed intention to commence the winding-up process for the subsidiary companies in financial year ending 31 December 2026.
- Unabsorbed tax losses of RM3,807,215 (2024: RM2,063,664) for which no deferred tax assets were recognised at 31 December 2025.截至 2025 年 12 月 31 日未确认递延税项资产的未吸收税务亏损 RM3,807,215（2024 年：RM2,063,664）。
Sources (2)出处（2）
As at 31 December 2025, the Group and the Company did not recognise deferred tax assets in respect of unabsorbed tax losses and unutilised capital allowances.
Unabsorbed tax losses 3,807,215 2,063,664 3,685,596 1,935,482
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。