DailySpaceReservoir Link Energy Bhd
0219 · Main Market主板 · annual reports 2023 to 2025, 672 entries read2023 至 2025 年报，共读出 672 条
The company这家公司
Reservoir Link Energy Bhd provides oil and gas well services as well as renewable energy and wastewater treatment solutions.Reservoir Link Energy Bhd 提供油气油井服务，以及可再生能源和废水处理方案。
Source: annual report 2023, pages 2, 8; annual report 2024, page 9.出处：2023 年年报第 2、8 页；2024 年年报第 9 页。
In FY2025, oil and gas well services contributed 69.0% of revenue, while renewable energy and sustainable ventures including wastewater treatment contributed 31.0%.2025 财政年，油气油井服务贡献营业额的 69.0%，而包含废水处理在内的可再生能源与可持续业务贡献 31.0%。
Source: annual report 2025, page 39.出处：2025 年年报第 39 页。
By geography in FY2025, Malaysia accounted for RM111,212,645 of revenue, Indonesia accounted for RM12,545,634, Turkmenistan RM1,055,471, and Brunei RM551,117.按地区划分，2025 财政年马来西亚占营业额 RM111,212,645，印度尼西亚占 RM12,545,634，土库曼斯坦占 RM1,055,471，文莱占 RM551,117。
Source: annual report 2025, page 225.出处：2025 年年报第 225 页。
As of 18 September 2025, Reservoir Link Holdings Sdn Bhd held 33,621,700 shares (9.277%), Pansar Berhad held 29,323,503 shares (8.091%), and Propel Global Berhad held 35,460,000 shares (9.784%). Pledged securities accounts included 29,323,503 shares for Pansar Berhad and 28,460,000 shares for Propel Global Berhad.截至 2025 年 9 月 18 日，Reservoir Link Holdings Sdn Bhd 持有 33,621,700 股（9.277%），Pansar Berhad 持有 29,323,503 股（8.091%），Propel Global Berhad 持有 35,460,000 股（9.784%）。抵押证券账户包括 Pansar Berhad 的 29,323,503 股以及 Propel Global Berhad 的 28,460,000 股。
Source: annual report 2025, pages 256, 258.出处：2025 年年报第 256、258 页。
Datuk Tai is the brother of Dato’ James Tai Cheong and uncle of David Tai Wei, who are substantial shareholders of Reservoir Link, and serves as Managing Director of Pansar Berhad. Rewi Hamid Bugo was appointed as Independent Non-Executive Director on 20 June 2025.Datuk Tai 是 Reservoir Link 主要股东 Dato’ James Tai Cheong 的兄弟及 David Tai Wei 的叔父，并担任 Pansar Berhad 董事经理。Rewi Hamid Bugo 于 2025 年 6 月 20 日获委任为独立非执行董事。
Source: annual report 2025, pages 14, 20.出处：2025 年年报第 14、20 页。
Revenue by segment, FY20252025 财政年各业务营业额占比
Source: annual report 2025, page 39.出处：2025 年年报第 39 页。
Major events大事记
Source: annual report 2023, pages 5, 25.出处：2023 年年报第 5、25 页。
Source: annual report 2023, pages 11, 130.出处：2023 年年报第 11、130 页。
Source: annual report 2023, page 24.出处：2023 年年报第 24 页。
Source: annual report 2024, page 31; annual report 2025, page 180.出处：2024 年年报第 31 页；2025 年年报第 180 页。
Source: annual report 2024, page 43; annual report 2025, pages 28, 38.出处：2024 年年报第 43 页；2025 年年报第 28、38 页。
Source: annual report 2025, pages 5, 181.出处：2025 年年报第 5、181 页。
Source: annual report 2025, page 246.出处：2025 年年报第 246 页。
Revenue and profit营业额与盈利
Assets, liabilities and equity资产、负债与权益
20232023 年
For the 18 months ended 30 June 2023, the group spent RM15,147,063 on purchases of property, plant and equipment and RM2,606,100 to acquire an 85% equity interest in PT EnviroTech Akva. Financing activities generated RM16.4 million, mainly from bank facility drawdowns. The company bought back 1,400,000 shares from the open market at an average price of RM0.36 per share, and no dividend was recommended.在截至 2023 年 6 月 30 日的 18 个月财政期内，集团支出 RM15,147,063 购买物业、厂房及设备，并出资 RM2,606,100 收购 PT EnviroTech Akva 85% 股权。融资活动产生 RM16.4 million，主要来自银行融资提取。公司从公开市场以每股 RM0.36 的平均价格回购了 1,400,000 股，且未建议派发股息。
Source: annual report 2023, pages 2, 36, 87, 107, 130.出处：2023 年年报第 2、36、87、107、130 页。
20242024 年
In FY2024, purchases of property, plant and equipment rose to RM38,758,935, and RM3,466,055 was used for acquisitions of subsidiaries. Financing activities generated RM58,280,684, including term loan drawdowns of RM37,252,860 and share issue proceeds of RM7,795,207 from private placements. No dividend was recommended.2024 财政年，购买物业、厂房及设备增加至 RM38,758,935，收购子公司使用 RM3,466,055。融资活动产生 RM58,280,684，包括提取定期贷款 RM37,252,860 以及通过私下配售发行股份所得 RM7,795,207。公司未建议派发股息。
Source: annual report 2024, pages 92, 106, 107.出处：2024 年年报第 92、106、107 页。
20252025 年
In FY2025, purchases of property, plant and equipment were RM21,022,699, and the group acquired a 30% equity interest in Propel Maxflo Sdn Bhd for RM7,390,000 cash. A gain of RM84,700,327 was recognised on the deemed disposal of Founder Group Limited, offset by an impairment loss on investment in associates of RM50,203,970. Net financing cash flows stood at RM25,010,302, with share issue proceeds of RM10,304,488 and term loan drawdowns of RM20,723,542, while no dividend was recommended.2025 财政年，购买物业、厂房及设备为 RM21,022,699，集团以 RM7,390,000 现金收购 Propel Maxflo Sdn Bhd 30% 股权。因视同脱售 Founder Group Limited 确认收益 RM84,700,327，但被联营公司投资减值损失 RM50,203,970 所抵销。融资活动现金净额为 RM25,010,302，其中发行股份所得 RM10,304,488，定期贷款提取 RM20,723,542，未建议派发股息。
Source: annual report 2025, pages 111, 120, 128, 129, 181.出处：2025 年年报第 111、120、128、129、181 页。
Across the three years三年合看
Across the three reports, total borrowings increased from RM28,548,195 as of 30 June 2023 to RM80,881,092 in 2024 before decreasing to RM64,549,852 in 2025. Total equity expanded from RM83,467,462 in 2023 to RM93,679,995 in 2024 and RM125,341,815 in 2025. Total issued shares rose from 290.4 million to 316.8 million in FY2024, then to 362.4 million in FY2025 through private placements, ESOS exercises and 12,705,000 shares issued on 9 August 2024 to settle the Founder Energy consideration, while no dividends were paid or proposed across the period.三份年报合看，总借款从 2023 年 6 月 30 日的 RM28,548,195 增至 2024 年的 RM80,881,092，随后在 2025 年降至 RM64,549,852。总权益从 2023 年的 RM83,467,462 增长至 2024 年的 RM93,679,995 和 2025 年的 RM125,341,815。已发行股份总数在 2024 财政年从 290.4 million 股增至 316.8 million 股，2025 财政年通过私下配售、雇员认股权行使以及 2024 年 8 月 9 日为结清 Founder Energy 对价而发行的 12,705,000 股增至 362.4 million 股，期间均未派发或建议股息。
Source: annual report 2023, page 169; annual report 2024, pages 37, 38, 192; annual report 2025, pages 39, 41, 111, 233.出处：2023 年年报第 169 页；2024 年年报第 37、38、192 页；2025 年年报第 39、41、111、233 页。
Still to be spent尚未支出的承诺
At 30 June 2025, RM2.0 million of private placement proceeds remained unutilised for working capital. Under term loan facilities, RM14,319,000 was yet to be disbursed for rooftop solar photovoltaic systems, with RM4,120,000 earmarked for future projects. Subsequent to year end, the group entered into a conditional agreement to acquire the remaining 70% of Propel Maxflo Sdn Bhd for RM13.8 million in cash and RM3.4 million in new shares.截至 2025 年 6 月 30 日，私下配售所得款项中有 RM2.0 million 营运资金尚未动用。在定期贷款额度下，屋顶太阳能光伏系统尚有 RM14,319,000 尚未发放，其中 RM4,120,000 指定用于未来项目。财政年末后，集团签订有条件协议，拟以 RM13.8 million 现金及价值 RM3.4 million 的新股收购 Propel Maxflo Sdn Bhd 余下 70% 股权。
Source: annual report 2025, pages 41, 204, 246.出处：2025 年年报第 41、204、246 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 | 2021 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| RM令吉 | RM令吉 | RM令吉 | RM令吉 | |
| Revenue营业额 | 112,441,900 | 193,303,996 | 186,202,799 | 125,396,832 |
| Profit before taxation税前盈利 | 17,030,425 | 3,356,842 | 4,092,895 | 31,715,508 |
| Profit after taxation税后盈利 | 12,111,128 | 1,794,003 | 736,973 | 27,839,362 |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (9,382,353) | (15,147,063) | (38,758,935) | (21,022,699) |
| Short-term investments短期投资 | 5,030,700 | 693,230 | 1,020,970 | 1,052,715 |
| Fixed deposits with licensed banks持牌银行定期存款 | 3,630,315 | 7,139,481 | 9,676,772 | 4,912,341 |
| Cash and bank balances现金及银行结余 | 13,491,130 | 6,070,518 | 13,482,607 | 11,134,355 |
| Total assets总资产 | 102,609,954 | 161,325,896 | 231,713,548 | 218,774,297 |
| Total liabilities总负债 | 21,126,378 | 77,858,434 | 138,033,553 | 93,432,482 |
| Total equity总权益 | 81,483,576 | 83,467,462 | 93,679,995 | 125,341,815 |
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 |
|---|---|---|
| Deliver 100 MW of renewable energy mix of assets by 2025到 2025 年交付 100 MW 可再生能源资产组合 | The target year was adjusted to 2027, with combined capacity reaching 42.17 MWp as of FY2025 across operations, construction, and secured agreements.目标年份调整为 2027 年，截至 2025 财政年，营运、在建和已签约项目的综合装机容量达到 42.17 MWp。 Source: annual report 2024, page 33; annual report 2025, page 34.出处：2024 年年报第 33 页；2025 年年报第 34 页。 | Target year shifted to 2027目标年份延至 2027 年 |
| Listing of Founder Group Limited on NASDAQ considered考虑将 Founder Group Limited 在纳斯达克上市 | Founder Group Limited listed on NASDAQ on 23 October 2024, diluting the group's equity interest from 51.00% to 45.21%.Founder Group Limited 于 2024 年 10 月 23 日在纳斯达克上市，集团持股比例由 51.00% 稀释至 45.21%。 Source: annual report 2023, page 186; annual report 2024, pages 43, 208; annual report 2025, pages 38, 170.出处：2023 年年报第 186 页；2024 年年报第 43、208 页；2025 年年报第 38、170 页。 | Listed on NASDAQ已在纳斯达克上市 |
| Profit guarantee of RM14,989,000 for Founder Energy for the 26 months ended 31 October 2023Founder Energy 截至 2023 年 10 月 31 日止 26 个月的税后盈利保证为 RM14,989,000 | The group confirmed on 9 July 2024 that the guarantee was achieved, and 12,705,000 shares were issued on 9 August 2024 to settle the RM3,910,119 contingent consideration.集团于 2024 年 7 月 9 日确认达到保证，并于 2024 年 8 月 9 日发行 12,705,000 股以结清 RM3,910,119 的或有对价。 Source: annual report 2023, page 149; annual report 2024, page 170; annual report 2025, pages 111, 201.出处：2023 年年报第 149 页；2024 年年报第 170 页；2025 年年报第 111、201 页。 | Achieved and settled达成并已结清 |
| Acquisition of 90% of PT Eco Power Engineering for USD 3,000,000 for a 9.6 MW mini hydro power plant以 USD 3,000,000 收购 PT Eco Power Engineering 90% 股权以开发 9.6 MW 小型水力发电厂 | Deposits of RM4,428,700 were paid, with no revenue recognized as of FY2025 while the project remained at development stage.已支付 RM4,428,700 定金，截至 2025 财政年项目仍处于开发阶段且未确认营业额。 Source: annual report 2023, page 185; annual report 2024, page 162; annual report 2025, pages 40, 191.出处：2023 年年报第 185 页；2024 年年报第 162 页；2025 年年报第 40、191 页。 | Still at development stage仍在开发阶段 |
| Utilise RM10.0 million from private placement proceeds for wastewater treatment plant development将私下配售所得款项中的 RM10.0 million 用于开发废水处理厂 | RM6,766,000 was utilised in FY2024 and RM1,625,650 from Tranche 3 was utilised in FY2025.2024 财政年动用了 RM6,766,000，2025 财政年动用了第三批次所得中的 RM1,625,650。 Source: annual report 2024, pages 39, 92; annual report 2025, page 112.出处：2024 年年报第 39、92 页；2025 年年报第 112 页。 | Partially utilised部分已动用 |
What the reports leave open年报留下待看的事
- Whether the conditional acquisition of the remaining 70% equity in Propel Maxflo Sdn Bhd for RM13.8 million in cash and RM3.4 million in shares completes as expected by the end of 2025.以 RM13.8 million 现金和价值 RM3.4 million 的股份收购 Propel Maxflo Sdn Bhd 余下 70% 股权的有条件收购能否在 2025 年底如期完成。
Source: annual report 2025, page 246.出处：2025 年年报第 246 页。
- The valuation of the retained 38% investment in Founder Group Limited, where management recognised an impairment loss of RM48,447,915 under a Level 3 discounted cash flow model.对 Founder Group Limited 保留的 38% 投资的估值情况，管理层在第三级折现现金流模型下确认了 RM48,447,915 的减值损失。
Source: annual report 2025, pages 179, 181.出处：2025 年年报第 179、181 页。
- Resolution of the regulatory conflict of interest under PETRONAS requirements and approval of the explosive storage permit at Kemaman Supply Base.国油（PETRONAS）要求下的监管利益冲突的化解，以及甘马挽供应基地炸药储存许可证的审批进展。
Source: annual report 2025, page 42.出处：2025 年年报第 42 页。
- Project execution schedules, following delays experienced on 10 out of 26 Large Scale Solar projects and 9 out of 21 Commercial and Industrial Solar projects.项目执行进度，此前 26 个大型太阳能项目中有 10 个、21 个工商业太阳能项目中有 9 个遭遇延期。
Source: annual report 2025, page 42.出处：2025 年年报第 42 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。