DailySpaceVolcano Berhad
0232 · ACE Market创业板（ACE Market） · annual reports 2023 to 2025, 427 entries read2023 至 2025 年报，共读出 427 条
The company这家公司
Volcano Berhad manufactures nameplates and plastic injection moulded parts. On 5 September 2023, the group expanded the principal activities of its subsidiary Volcano Name Plate Sdn. Bhd. to include manufacturing of electrical and electronics components and automotive components. On 21 March 2024, it incorporated PT Volcano Technology Indonesia to produce and trade nameplates, die-cut parts and related products.Volcano Berhad 制造铭牌与注塑塑胶部件。2023 年 9 月 5 日，集团扩大子公司 Volcano Name Plate Sdn. Bhd. 的主要业务，增加电气与电子部件及汽车部件的制造。2024 年 3 月 21 日，集团在印尼成立 PT Volcano Technology Indonesia，从事铭牌、模切部件及相关产品的生产与贸易。
Sources (5)出处（5）
We have on 5 September 2023 expanded the principal activities of VNP to include the manufacturing of E&E components and automotive components.
Nameplates 69,296 61.90 45,678 62.61
Plastic injection moulded parts 42,658 38.10 27,274 37.39
VTI 21 March 2024, Indonesia Producing and trading of nameplates, die-cut parts and its related products (dormant in FYE 2024)
On 21 March 2024, we incorporated a new 99.99% owned subsidiary, VTI, a limited liability company under the laws of Indonesia to expand our existing market reach in Indonesia and provide better support for the existing Indonesian customers.
In 2025, nameplates generated 65.26% of revenue (RM53.611 million) and plastic injection moulded parts contributed 34.74% (RM28.540 million). Export markets made up 93.37% of revenue (RM76.706 million), led by Thailand at 49.70% (RM40.827 million), Singapore at 27.91% (RM22.924 million), and the United States of America at 9.16% (RM7.526 million), while Malaysia accounted for 6.63% (RM5.445 million).2025 年，铭牌占营业额 65.26%（RM53.611 million），注塑塑胶部件占 34.74%（RM28.540 million）。出口市场占营业额的 93.37%（RM76.706 million），其中泰国占 49.70%（RM40.827 million）、新加坡占 27.91%（RM22.924 million）、美国占 9.16%（RM7.526 million），马来西亚本土市场占 6.63%（RM5.445 million）。
Sources (7)出处（7）
Nameplates 53,611 65.26 48,051 66.42
Plastic injection moulded parts 28,540 34.74 24,294 33.58
Thailand 40,827 49.70 33,519 46.33
Singapore 22,924 27.91 29,405 40.65
United States of America 7,526 9.16 1,659 2.29
Sub-total (Export) 76,706 93.37 68,690 94.95
Malaysia 5,445 6.63 3,655 5.05
Multinational companies accounted for 83.95% of revenue in 2025 (85.50% in 2023 and 83.05% in 2024), while original equipment manufacturers and other customers accounted for 16.05% (14.50% in 2023 and 16.95% in 2024). The group's top five customers contributed 48.47% of revenue in 2025, down from 68.98% in 2023 and 61.34% in 2024, without long-term contracts. Customer A alone contributed RM22,094,630 in 2025 (RM43,686,498 in 2023 and RM27,979,084 in 2024).跨国公司在 2025 年占营业额 83.95%（2023 年 85.50%，2024 年 83.05%），原始设备制造商及其他客户占 16.05%（2023 年 14.50%，2024 年 16.95%）。集团前五大客户在 2025 年贡献 48.47% 的营业额，低于 2023 年的 68.98% 与 2024 年的 61.34%，均无长期合约。其中客户 A 在 2025 年贡献 RM22,094,630（2023 年 RM43,686,498，2024 年 RM27,979,084）。
Sources (15)出处（15）
• Multinational companies (“MNCs”) (FPE 2023: 85.50%)
• Original Equipment Manufacturers (“OEMs”) and other customers (FPE 2023: 14.50%)
Our Group’s top five (5) customers collectively account for approximately 68.98% of our Group’s revenue in FPE 2023.
While we currently do not hold any long-term contracts with them, which is an industry norm, the potential loss of any of these major customers or the inability to secure new purchase orders from new customers could adversely affect our Group’s operating results.
Customer A 43,686,498 29,119,954
Multinational companies (“MNCs”) (FYE 2024 : 83.05%)
Original Equipment Manufacturers (“OEMs”) and other customers (FYE 2024 : 16.95%)
For FYE 2024, our Group’s top five (5) customers collectively contribute approximately 61.34% of our Group’s revenue.
Despite the absence of long-term contracts, which is common in the industry, the potential loss of any of these major customers or the failure to secure new purchase orders from new clients could have an adverse impact on our Group’s operating results.
Customer A 27,979,084 43,686,498
• Multinational companies (“MNCs”) (FYE2025 : 83.95%)
• Original Equipment Manufacturers (“OEMs”) and other customers (FYE2025 : 16.05%)
For FYE 2025, our Group’s top five (5) customers collectively contribute approximately 48.47% of our Group’s revenue.
Despite the absence of long-term contracts, which is common in the industry, the potential loss of any of these major customers or the failure to secure new purchase orders from new customers could have an adverse impact on our Group’s operating results.
Customer A 22,094,630 27,979,084
As of the 2025 report, major shareholders were Datuk Ch’ng Huat Seng with 15.821% (28,737,100 shares), Dato’ Wong Tze Peng with 13.544% (24,600,000 shares), Gan Yew Thiam with 11.561% (21,000,000 shares), and Andrew Su Meng Kit with 9.965% (18,100,000 shares). CGS International Nominees Malaysia (Tempatan) Sdn. Bhd. held 10,753,300 shares (5.920%) in a pledged account for Yeap Guan Seng, and RHB Nominees (Tempatan) Sdn. Bhd. held 10,000,000 shares (5.505%) in a pledged account for Andrew Su Meng Kit. In 2024, Andrew Su Meng Kit held 2,700,000 shares directly and 14,100,000 shares (7.763%) through Acme Sky Sdn Bhd.截至 2025 年年报，主要股东包括 Datuk Ch’ng Huat Seng（持股 15.821%，28,737,100 股）、Dato’ Wong Tze Peng（持股 13.544%，24,600,000 股）、Gan Yew Thiam（持股 11.561%，21,000,000 股）以及 Andrew Su Meng Kit（持股 9.965%，18,100,000 股）。CGS International Nominees Malaysia (Tempatan) Sdn. Bhd. 在抵押账户中为 Yeap Guan Seng 持有 10,753,300 股（5.920%），RHB Nominees (Tempatan) Sdn. Bhd. 在抵押账户中为 Andrew Su Meng Kit 持有 10,000,000 股（5.505%）。2024 年时，Andrew Su Meng Kit 直接持有 2,700,000 股，并通过 Acme Sky Sdn Bhd 持有 14,100,000 股（7.763%）。
Sources (10)出处（10）
Andrew Su Meng Kit 2,700,000 1.487 14,100,000* 7.763*
Acme Sky Sdn Bhd 14,100,000 7.763 - -
Andrew Su Meng Kit 18,100,000 9.965 - -
Datuk Ch’ng Huat Seng 28,737,100 15.821 - -
Sdn Bhd, Pledged Securities Account For Yeap Guan Seng 10,753,300 5.920 - -
1 Ch’ng Huat Seng 28,737,100 15.821
2 Wong Tze Peng 24,600,000 13.544
3 Gan Yew Thiam 21,000,000 11.561
4 CGS International Nominees Malaysia (Tempatan) Sdn. Bhd. 10,753,300 5.920
5 RHB Nominees (Tempatan) Sdn. Bhd. 10,000,000 5.505 Pledged Securities Account For Andrew Su Meng Kit
The reports state that none of the directors or key senior management have any family relationship with other directors or major shareholders of the company. Andrew Su Meng Kit was appointed to the board on 21 February 2024, while Khoo Boo Wui served as executive director from March 2018 until February 2024.年报载明，董事及主要高管之间或与公司主要股东之间均无任何亲属关系。Andrew Su Meng Kit 于 2024 年 2 月 21 日获委任为董事，而 Khoo Boo Wui 于 2018 年 3 月至 2024 年 2 月期间担任执行董事。
Sources (6)出处（6）
None of the Directors have any family relationship with other Directors and/or major shareholders of Volcano Berhad.
None of the key senior management have any family relationship with the Directors and/or major shareholders of Volcano Berhad.
Andrew Su Meng Kit was appointed to our Board on 21 February 2024 and is responsible for the overall operations of VTT.
None of the Directors of our Company have any family relationship with other Directors and/or major shareholders of our Company.
He was the Executive Director of Volcano Berhad from March 2018 to February 2024.
None of the Directors of our Company have any family relationship with other Directors and/or major shareholders of our Company.
Revenue by product, 20252025 年按产品划分的营业额
Sources (2)出处（2）
Nameplates 53,611 65.26 48,051 66.42
Plastic injection moulded parts 28,540 34.74 24,294 33.58
Major events大事记
Sources (2)出处（2）
On 26 May 2022, the Company announced the change of its financial year-end from 31 December to 30 June.
Our Thailand subsidiary, VTT has on 28 October 2022 completed the acquisition of a plot of industrial land at Amata City, Rayong, Thailand measuring at 16,608 square metres to construct a second factory, bolstering our Thailand operations.
Sources (3)出处（3）
We have on 5 September 2023 expanded the principal activities of VNP to include the manufacturing of E&E components and automotive components.
On 4 September 2023, the Company had issued and allotted the first tranche of 16,630,000 new Shares at an issue price of RM0.91 per Share, which was listed on the ACE Market of Bursa Securities on 6 September 2023.
On 25 May 2023, VNP had entered into a conditional sale and purchase agreement with G2 Gold (M) Sdn. Bhd. to purchase a parcel of leasehold industrial land identified as Lot 5999 (PN 7074), Mukim 11, District of Seberang Perai Tengah, Pulau Pinang together with a 1-storey factory and 2-storey
Sources (1)出处（1）
The transaction was completed on 28 November 2023, in accordance with the terms of the Agreement.
Sources (4)出处（4）
Andrew Su Meng Kit was appointed to our Board on 21 February 2024 and is responsible for the overall operations of VTT.
During the current financial year, we undertook a private placement of up to 49,500,000 new Shares, representing up to 30% of Shares in issue (excluding treasury shares, if any) (“Private Placement”), and we managed to raise a total sum of RM15.133 million
There was no further placement of new Shares thereafter, and the Private Placement was deemed completed on 5 July 2024.
On 21 March 2024, we incorporated a new 99.99% owned subsidiary, VTI, a limited liability company under the laws of Indonesia to expand our existing market reach in Indonesia and provide better support for the existing Indonesian customers.
Sources (2)出处（2）
• Commissioned of VTT’s second manufacturing plant (built-up area: 134,869 sq ft) in Rayong, Thailand
Yunianto (Resigned on 30 April 2025)
Revenue, profit and operating cash营业额、盈利与营运现金
Assets, liabilities and borrowings资产、负债与借款
20232023 年
Operating cash flow generated RM18.92 million during the 18-month financial period ended 30 June 2023. Cash payments for property, plant and equipment were RM10,315,744, and dividends paid totalled RM4,290,000. Term loan drawings were RM68,460 and repayments were RM46,197. The directors' report prints executive directors' other emoluments of RM8,283,685, while Note 23 prints directors' other emoluments of RM9,321,749, which is RM1.04 million or 12.5% more. In the review of operations, gearing is stated as 0.01 times based on borrowings only, while Note 30 prints a gearing ratio of 0.13 times (0.08 times for 2021) when including payables.截至 2023 年 6 月 30 日止的 18 个月财政期间，营运现金流产生 RM18.92 million。购买物业、厂房及设备支付现金 RM10,315,744，已付股息合计 RM4,290,000。提取定期贷款 RM68,460，偿还定期贷款 RM46,197。董事报告列出的执行董事其他薪酬为 RM8,283,685，而附注 23 列出的董事其他薪酬为 RM9,321,749，相差 RM1.04 million 或 12.5%。营运回顾中称负债率为 0.01 倍（仅计借款），而附注 30 计入应付款项后的负债比率为 0.13 倍（2021 年为 0.08 倍）。
Sources (7)出处（7）
Gearing (times) 0.01 *
Gearing ratio (times) 0.13 0.08 0.24 0.23
Net cash generated from operating activities was RM18.92 million primarily due to the higher cash surplus generated from the 18-month revenue for FPE 2023 coupled with the reduced inventory buffer after the normalisation of raw materials supply post-Covid 19 pandemic.
- Other emoluments 8,283,685 -
Directors’ other emoluments 9,321,749 3,443,164 - 4,500
Purchase of property, plant and equipment (b) (10,315,744) (7,560,853) - -
Dividends paid (4,290,000) - (4,290,000) -
Drawdown of term loans (a) 68,460 - - -
Repayment of term loans (a) (46,197) - - -
20242024 年
A private placement raised RM15.133 million (RM15,133,300 gross proceeds), with share issue costs of RM240,619. Cash spent on property, plant and equipment was RM15,333,209, with a further RM3,800,000 financed by term loans. Dividends paid were RM1,489,366. The review of operations states gearing rose from 0.01 times to 0.04 times, counting borrowings only, while Note 29 prints a gearing ratio of 0.13 times for both years when including payables. The corporate governance table prints executive directors' emoluments totalling RM5.20 million, while Note 24 prints directors' other emoluments of RM4,045,034 (with RM10,500 paid to non-executive directors), making the governance table 29% higher.私人配售募集资金 RM15.133 million（毛收益 RM15,133,300），支付股份发行费用 RM240,619。购买物业、厂房及设备支付现金 RM15,333,209，另有 RM3,800,000 由定期贷款融资。已付股息为 RM1,489,366。营运回顾称负债率由 0.01 倍升至 0.04 倍（仅计借款），而附注 29 计入应付款项后的负债比率两年均为 0.13 倍。企业管治表列出执行董事薪酬合计 RM5.20 million，而附注 24 列出董事其他薪酬为 RM4,045,034（其中非执行董事为 RM10,500），管治表高出 29%。
Sources (8)出处（8）
Gearing (times) 0.04 0.01
Gearing ratio (times) 0.13 0.13 0.13 0.24
During the current financial year, we undertook a private placement of up to 49,500,000 new Shares, representing up to 30% of Shares in issue (excluding treasury shares, if any) (“Private Placement”), and we managed to raise a total sum of RM15.133 million
Datuk Ch’ng Huat Seng - 1,008 371 287 1,666
Directors’ other emoluments 4,045,034 9,321,749 10,500 -
Purchase of property, plant and equipment (a) (15,333,209) (10,315,744) - -
Dividends paid (1,489,366) (4,290,000) (1,489,366) (4,290,000)
Proceeds from issuance of ordinary shares 15,133,300 - 15,133,300 -
Payment of transaction cost of share issue (240,619) - (240,619) -
Financed by way of term loans (3,800,000) (1,402,673)
20252025 年
Cash spent on property, plant and equipment was RM12,653,006, while total additions reached RM39,096,833, including RM24,615,070 financed by term loans and RM1,828,757 by hire purchase. Term loan drawings of RM4,084,405 and repayments of RM219,053 were made, and dividends paid were RM1,489,366. The review states that higher equity was driven by higher retained earnings, but the statements show retained earnings fell from RM75.82 million to RM75.69 million (printed as 75,685,066); dividends of RM1.49 million exceeded profit of RM1.35 million, and the RM0.16 million equity rise came from the exchange reserve. The review states gearing was 0.33 times, while Note 29 prints a gearing ratio of 0.46 times (0.13 times in 2024) including payables. The review refers to a net cash position, but borrowings of RM33,903,857 exceeded cash and deposits of RM18.04 million (RM2.62 million pledged) plus RM0.52 million in money funds, leaving net debt of about RM15.3 million. Financial highlights show 2024 basic EPS of 2.88 sen, while Note 25 prints 3.02 sen based on 173,315,000 weighted shares.购买物业、厂房及设备支付现金 RM12,653,006，而总增加额达 RM39,096,833，其中 RM24,615,070 由定期贷款融资，RM1,828,757 由租购融资。新提取定期贷款 RM4,084,405，偿还 RM219,053，已付股息为 RM1,489,366。营运回顾称权益增加主要由保留盈利推动，但报表显示保留盈利由 RM75.82 million 降至 RM75.69 million（印为 75,685,066）；RM1.49 million 的股息超过了 RM1.35 million 的盈利，RM0.16 million 的权益增长来自外币折算储备。回顾称负债率为 0.33 倍，而附注 29 计入应付款项后的负债比率为 0.46 倍（2024 年为 0.13 倍）。营运回顾提及净现金状况，但借款 RM33,903,857 超过了现金及存款 RM18.04 million（抵押 RM2.62 million）与货币基金 RM0.52 million，净负债约为 RM15.3 million。财务概要显示 2024 年每股基本盈利为 2.88 仙，而附注 25 依 173,315,000 加权股数列出 3.02 仙。
Sources (12)出处（12）
This increase was primarily driven by higher retained earnings, resulting from the profit generated during the financial year after accounting for dividend payouts.
At 30 June 2025 93,642,681 2,242,283 (68,000,000) 75,685,066 103,570,030
Gearing (times) 0.33 0.04
Gearing ratio (times) 0.46 0.13 0.12 0.13
We remain cautiously optimistic about the Group’s outlook, underpinned by the additional production areas, strong balance sheet and healthy net cash position, which provide us with the resilience to navigate ongoing challenges and emerge stronger.
Loans and borrowings (33,903,857) (33,903,857) -
Purchase of property, plant and equipment (a) (12,653,006) (15,333,209)
Dividends paid (1,489,366) (1,489,366) (1,489,366) (1,489,366)
Drawdown of term loans (b) 4,084,405 - - -
Repayment of term loans (b) (219,053) (127,905) - -
Purchase of property, plant and equipment 39,096,833 19,133,209
Financed by way of term loans (24,615,070) (3,800,000)
Financed by way of hire purchase arrangements (1,828,757) -
Weighted average number of ordinary shares for basic earnings per share 181,630,000 173,315,000
Basic Earnings Per Share (EPS) (sen) 2.42 6.35 5.49 2.88 0.74
Basic earnings per ordinary share (sen) 0.74 3.02
Across the three years三年合看
Major capital spending across the three years funded the construction of the second factory in Rayong, Thailand and the acquisition and renovation of the second factory in Penang. Funding was sourced from operations, the 2024 private placement which raised RM15.133 million, and bank borrowings, which brought total borrowings from RM0.95 million in 2023 to RM4.30 million in 2024 and RM33.90 million in 2025. Pledged land and buildings rose from RM14,043,583 in 2023 to RM25,416,415 in 2024 and RM62,695,024 in 2025, while pledged deposits were RM2,499,549, RM2,557,610 and RM2,623,998. Dividends paid across the three years were RM4,290,000, RM1,489,366 and RM1,489,366.三年间主要资本开支用于兴建泰国罗勇第二工厂以及购置和翻新槟城第二工厂。资金来自营运、2024 年私人配售筹得的 RM15.133 million 以及银行借款，总借款由 2023 年的 RM0.95 million 增至 2024 年的 RM4.30 million 及 2025 年的 RM33.90 million。已抵押的土地与建筑由 2023 年的 RM14,043,583 增至 2024 年的 RM25,416,415 和 2025 年的 RM62,695,024，抵押存款分别为 RM2,499,549、RM2,557,610 和 RM2,623,998。三年已付股息分别为 RM4,290,000、RM1,489,366 和 RM1,489,366。
Sources (13)出处（13）
Gearing (times) 0.01 *
Gearing ratio (times) 0.13 0.08 0.24 0.23
Dividends paid (4,290,000) - (4,290,000) -
Freehold land and building with a carrying amount of RM14,043,583 (31.12.2021: Nil) has been pledged as security to secure term loan facility of the Group as disclosed in Note 15(b) to the financial statements.
Included in short-term deposits placed with licensed banks is an amount of RM2,499,549 (31.12.2021: RM2,568,877) which have been pledged to licensed banks to secure credit facilities granted to the Group.
Total borrowings 4,303 953
During the current financial year, we undertook a private placement of up to 49,500,000 new Shares, representing up to 30% of Shares in issue (excluding treasury shares, if any) (“Private Placement”), and we managed to raise a total sum of RM15.133 million
Dividends paid (1,489,366) (4,290,000) (1,489,366) (4,290,000)
Freehold land, leasehold land and buildings with total carrying amount of RM 25,416,415 (2023: RM14,043,583) has been pledged as securities to secure banking facilities of the Group as disclosed in Note 15 to the financial statements.
Included in short-term deposits placed with licensed banks is an amount of RM2,557,610 (2023: RM2,499,549) which have been pledged to licensed banks to secure credit facilities granted to the Group.
Our Group’s total liabilities increased to RM49.67 million as at 30 June 2025, mainly due to higher bank borrowings of RM33.90 million, with the majority of the funds used to finance the construction of the second factory in Thailand.
Dividends paid (1,489,366) (1,489,366) (1,489,366) (1,489,366)
Freehold land, leasehold land and buildings with total carrying amount of RM62,695,024 (2024: RM25,416,415) have been pledged as securities to secure banking facilities of the Group as disclosed in Note 16 to the financial statements.
Included in short-term deposits placed with licensed banks is an amount of RM2,623,998 (2024: RM2,557,610) which have been pledged to licensed banks to secure credit facilities granted to the Group.
Still to be spent尚未支出的承诺
All RM15.133 million of proceeds raised from the private placement was fully utilised by FYE 2024, with no unutilised balance remaining and no new proceeds raised in 2025. Renovation work on the second factory in Penang was in progress at end-2025 and expected to be completed in the first quarter of 2026.私人配售筹得的全部 RM15.133 million 资金在 2024 财年已全数动用完毕，未有剩余未用款项，2025 年亦无通过任何公司方案筹集新资金。槟城第二工厂的翻新工程在 2025 年底仍在进行，预计于 2026 年第一季度完工。
Sources (5)出处（5）
During the current financial year, we undertook a private placement of up to 49,500,000 new Shares, representing up to 30% of Shares in issue (excluding treasury shares, if any) (“Private Placement”), and we managed to raise a total sum of RM15.133 million
There was no further placement of new Shares thereafter, and the Private Placement was deemed completed on 5 July 2024.
Total 42,768 15,133 15,133 -
On the other hand, renovation work for our second factory in Penang is currently in progress and is expected to be completed in the first quarter of 2026.
During FYE 2025, there were no proceeds raised by the Company from any corporate proposals.
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 | 72,952,430 | 111,954,467 | 72,345,123 | 82,150,524 |
| Profit before tax税前盈利 | 12,589,231 | 11,654,410 | 7,102,876 | 2,645,404 |
| Profit for the financial year税后盈利 | 10,068,357 | 9,059,162 | 5,230,903 | 1,352,871 |
| Net cash from operating activities营运活动所得现金净额 | (266,324) | 18,919,037 | 12,639,696 | 3,456,064 |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (7,560,853) | (10,315,744) | (15,333,209) | (12,653,006) |
| Dividends paid已付股息 | 0 | (4,290,000) | (1,489,366) | (1,489,366) |
| Total assets总资产 | 86,931,348 | 98,922,776 | 118,677,436 | 153,235,329 |
| Total liabilities总负债 | 7,488,649 | 13,266,737 | 15,270,767 | 49,665,299 |
| Loans and borrowings贷款与借款 | – | 894,782 | 4,285,351 | 33,903,857 |
| Total equity总权益 | 79,442,699 | 85,656,039 | 103,406,669 | 103,570,030 |
| Cash and bank balances现金与银行结余 | 9,439,149 | 14,324,018 | 22,914,721 | 15,414,225 |
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 |
|---|---|---|
| Construction of the second factory in Thailand expected to be completed in mid-2025泰国第二工厂的兴建工程预计于 2025 年年中完工 | Commissioned the second manufacturing plant with built-up area of 134,869 sq ft in Rayong, Thailand in FYE 2025.建筑面积 134,869 平方尺的泰国罗勇第二制造厂在 2025 财年投入运作。Sources (2)出处（2）Currently, the construction of our Group’s second factory in Thailand and the renovation work for our second factory in Penang are in progress and are expected to be completed in mid-2025 and the first quarter of 2025 respectively. • Commissioned of VTT’s second manufacturing plant (built-up area: 134,869 sq ft) in Rayong, Thailand | Commissioned in FYE 20252025 财年投入运作 |
| Renovation work for the second factory in Penang expected to be completed in the first quarter of 2025槟城第二工厂的翻新工程预计于 2025 年第一季度完工 | In 2025, renovation work was still in progress and completion was deferred to the first quarter of 2026.2025 年翻新工程仍在进行中，完工期顺延至 2026 年第一季度。Sources (2)出处（2）Currently, the construction of our Group’s second factory in Thailand and the renovation work for our second factory in Penang are in progress and are expected to be completed in mid-2025 and the first quarter of 2025 respectively. On the other hand, renovation work for our second factory in Penang is currently in progress and is expected to be completed in the first quarter of 2026. | Delayed to first quarter of 2026延期至 2026 年首季 |
| Proposed private placement of up to 49,500,000 new shares to fund factory construction in Thailand and plant acquisition in Malaysia建议私人配售最多 49,500,000 股新股，用于资助泰国建厂和购置马来西亚厂房 | The exercise raised RM15.133 million, with no further shares placed before the private placement was deemed completed on 5 July 2024.该方案共筹得 RM15.133 million，在此后未再进一步配售新股，私人配售于 2024 年 7 月 5 日被视作完成。Sources (4)出处（4）On 15 March 2023, we announced a private placement exercise to raise funds for our Group, for amongst others, the construction of our second factory in Thailand, as well as the acquisition of our second plant in Malaysia. The Company had on 15 March 2023, announced a proposed private placement of up to 49,500,000 new ordinary shares in the Company (“Shares”), representing up to 30% of Shares in issue (excluding treasury shares, if any) (“30% Private Placement”). During the current financial year, we undertook a private placement of up to 49,500,000 new Shares, representing up to 30% of Shares in issue (excluding treasury shares, if any) (“Private Placement”), and we managed to raise a total sum of RM15.133 million There was no further placement of new Shares thereafter, and the Private Placement was deemed completed on 5 July 2024. | Completed below maximum size以低于上限规模完成 |
| Acquisition of leasehold industrial land and factory in Seberang Perai Tengah, Penang收购位于槟城威中县的租赁工业用地及厂房 | Completed the acquisition on 28 November 2023.于 2023 年 11 月 28 日完成收购。Sources (3)出处（3）Additionally, VNP has on 25 May 2023, entered into a sale and purchase agreement to acquire a piece of leasehold industrial land (for 60-year term expiring on 6 October 2054, measuring approximately 4,054 square metres) with a vacant one-storey factory and a two-storey office erected thereon in The condition precedent of the agreement had been fulfilled on 10 August 2023. The transaction was completed on 28 November 2023, in accordance with the terms of the Agreement. | Completed已完成 |
| Distribute a minimum of 30% of annual audited net profit as dividends将至少 30% 的经审计年度净利润作为股息派发 | Declared interim and final dividends across the years, with FYE 2025 dividends totalling 0.52 sen per share representing approximately 69.81% of net profit.各年均宣派中期与终期股息，其中 2025 财年股息合计每股 0.52 仙，占净利润约 69.81%。Sources (4)出处（4）Following our dividend policy, which aims to distribute a minimum of 30% of our annual audited net profit to our shareholders, we had declared a single-tier interim dividend of 1.30 sen per ordinary share on 15 February 2023. In accordance with our dividend policy, which aims to distribute a minimum of 30% of our annual audited net profit to our shareholders, we declared a single-tier interim dividend of 0.50 sen per Share, totalling RM0.91 million, which was paid on 20 March 2024. In accordance with our dividend policy, which aims to distribute a minimum of 30% of our annual audited net profit to our shareholders, we declared a single-tier interim dividend of 0.32 sen per Share, totalling RM0.58 million, which was paid on 21 March 2025. Consequently, the total dividend for FYE 2025 amounted to 0.52 sen per Share, representing approximately 69.81% of the Group’s net profit. | FYE 2025 payout about 69.81% of net profit2025 财年派息约占净利润 69.81% |
What the reports leave open年报留下待看的事
- Completion of renovation work on the second factory in Penang, which was expected in the first quarter of 2026.槟城第二工厂翻新工程的完工进展，该工程预期于 2026 年第一季度完工。
Sources (1)出处（1）
On the other hand, renovation work for our second factory in Penang is currently in progress and is expected to be completed in the first quarter of 2026.
- Repayment schedule of bank borrowings after loans and borrowings rose to RM33,903,857, of which Term loan 2 stands at RM24,606,240 repayable by monthly instalments of RM239,280 over eight years commencing thirteen months after first drawdown.银行借款的还款进度，贷款与借款总额已升至 RM33,903,857，其中定期贷款 2 占 RM24,606,240，在首次提取 13 个月后分 8 年按月分期偿还 RM239,280。
Sources (2)出处（2）
33,903,857 4,285,351
Term loan 2 of a subsidiary of RM24,606,240 (2024: Nil) is repayable by monthly instalment of RM239,280 over eight years commencing from the thirteenth month after the first drawdown and is secured and supported as follows:
- Customer concentration in the absence of long-term contracts, with the top five customers contributing 48.47% of revenue in 2025 and Customer A accounting for RM22,094,630.未签订长期合约下的客户集中度，2025 年前五大客户贡献 48.47% 的营业额，其中客户 A 占 RM22,094,630。
Sources (3)出处（3）
For FYE 2025, our Group’s top five (5) customers collectively contribute approximately 48.47% of our Group’s revenue.
Despite the absence of long-term contracts, which is common in the industry, the potential loss of any of these major customers or the failure to secure new purchase orders from new customers could have an adverse impact on our Group’s operating results.
Customer A 22,094,630 27,979,084
- Margin recovery and foreign exchange volatility, after profit after tax dropped to RM1.35 million in 2025 from RM5.23 million in 2024 with an unrealised foreign exchange loss of approximately RM2.13 million (recorded as RM2,128,340 in Note 22).利润率恢复与外汇波动风险，2025 年税后盈利由 2024 年的 RM5.23 million 降至 RM1.35 million，并录得约 RM2.13 million 的未实现外汇亏损（附注 22 记为 RM2,128,340）。
Sources (2)出处（2）
Our profit after tax stood at RM1.35 million for FYE 2025, compared to RM5.23 million in FYE 2024 mainly attributed to a higher sales mix towards low-margin products, coupled with unrealised loss on foreign currency exchange of approximately RM2.13 million
Unrealised loss on foreign exchange 2,128,340 1,113,470 - -
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。