DailySpaceL&P Global Berhad
0268 · Main Market主板（Main Market） · annual reports 2023 to 2025, 1434 entries read2023 至 2025 年报，共读出 1434 条
The company这家公司
L&P Global provides industrial packaging, including boxes, crates and pallets, and pallet recycling and repair services. It also offers renewable paper fibre packaging and foldable wall panel boxes, introduced in 2024. In 2024, boxes and crates contributed 73.8% of revenue, pallets 20.9%, circular supply services 2.7% and trading 2.6%.L&P Global 提供工业包装，包括箱、板条箱和托盘，以及托盘回收与维修服务。集团也提供于 2024 年推出的可再生纸纤维包装和可折叠围板箱。2024 年，箱与板条箱占营业额 73.8%，托盘占 20.9%，循环供应服务占 2.7%，贸易占 2.6%。
Source: annual report 2024, pages 5, 22; annual report 2025, page 18.出处：2024 年年报第 5、22 页；2025 年年报第 18 页。
In 2025, revenue from Malaysia was RM63.3 million and Vietnam RM11.4 million. Two customers, each accounting for at least 10% of group revenue, contributed RM31.1 million together. The report links lower demand for boxes and crates from renewable energy customers to US tariffs on solar panel exports from Southeast Asia. The group secured 71 new customers during the year.2025 年，来自马来西亚的营业额为 RM63.3 million，越南为 RM11.4 million。两名各占集团营业额至少 10% 的客户，合共贡献 RM31.1 million。年报把可再生能源客户对箱与板条箱的需求下降，与美国对东南亚太阳能板出口征收关税联系起来。集团年内取得 71 名新客户。
Source: annual report 2025, pages 19, 125, 155.出处：2025 年年报第 19、125、155 页。
The 2025 holder list shows B PACK HOLDINGS SDN. BHD. with 368,500,000 shares, or 65.847%. Ooi Lay Pheng's directors' interests table shows 20,938,300 shares directly and 368,500,000 indirectly through B Pack Holdings Sdn. Bhd. Lee Soon Swee is her spouse.2025 年股东名单显示，B PACK HOLDINGS SDN. BHD. 持有 368,500,000 股，占 65.847%。董事权益表显示，Ooi Lay Pheng 直接持有 20,938,300 股，并通过 B Pack Holdings Sdn. Bhd. 间接持有 368,500,000 股。Lee Soon Swee 是她的配偶。
Source: annual report 2025, pages 15, 101, 177, 178.出处：2025 年年报第 15、101、177、178 页。
Ooi Lay Pheng is Executive Director / CEO and Ong Kah Hong is Executive Director / Chief Operating Officer. Dato’ Seri Lee Kah Choon became Independent Non-Executive Chairman on 1 December 2024, succeeding Dato’ Ooi Hooi Kiang. Lee Soon Swee joined as Executive Director on 13 November 2024, and Hew Hein Hwei as Independent Non-Executive Director on 1 December 2024.Ooi Lay Pheng 担任执行董事兼首席执行官，Ong Kah Hong 担任执行董事兼首席营运官。Dato’ Seri Lee Kah Choon 于 2024 年 12 月 1 日接替 Dato’ Ooi Hooi Kiang，出任独立非执行主席。Lee Soon Swee 于 2024 年 11 月 13 日加入董事会担任执行董事，Hew Hein Hwei 于 2024 年 12 月 1 日加入担任独立非执行董事。
Source: annual report 2024, pages 12, 18, 181; annual report 2025, pages 12, 13.出处：2024 年年报第 12、18、181 页；2025 年年报第 12、13 页。
The 2025 list includes pledged securities accounts at MAYBANK NOMINEES (TEMPATAN) SDN BHD for SIA BOON HUAT with 3,372,900 shares (0.603%) and BABA HADIL BIN BABA ZAIN with 2,400,000 shares (0.429%). It also lists M & A NOMINEE (TEMPATAN) SDN BHD for SOH CHOH PIAU (M&A), 2,369,100 shares (0.423%); PUBLIC NOMINEES (TEMPATAN) SDN BHD for TAN YONG SZE (E-KLG), 1,804,000 shares (0.322%); HLIB NOMINEES (TEMPATAN) SDN BHD for CHONG JIEW CHOI, 1,325,000 shares (0.237%); and MOOMOO NOMINEES (TEMPATAN) SDN. BHD. for PARAMJIT SINGH GILL A/L GURDEV SINGH, 1,171,300 shares (0.209%).2025 年名单中的质押证券账户包括 MAYBANK NOMINEES (TEMPATAN) SDN BHD 代 SIA BOON HUAT 持有的 3,372,900 股（0.603%），以及代 BABA HADIL BIN BABA ZAIN 持有的 2,400,000 股（0.429%）。名单也列出 M & A NOMINEE (TEMPATAN) SDN BHD 代 SOH CHOH PIAU (M&A) 持有 2,369,100 股（0.423%）；PUBLIC NOMINEES (TEMPATAN) SDN BHD 代 TAN YONG SZE (E-KLG) 持有 1,804,000 股（0.322%）；HLIB NOMINEES (TEMPATAN) SDN BHD 代 CHONG JIEW CHOI 持有 1,325,000 股（0.237%）；以及 MOOMOO NOMINEES (TEMPATAN) SDN. BHD. 代 PARAMJIT SINGH GILL A/L GURDEV SINGH 持有 1,171,300 股（0.209%）。
Source: annual report 2025, page 178.出处：2025 年年报第 178 页。
Other pledged securities accounts in the 2025 list are MOOMOO NOMINEES (ASING) SDN. BHD. for YANLING TONG, 1,144,900 shares (0.205%); MAYBANK NOMINEES (TEMPATAN) SDN BHD for TAN HAI LIANG, 1,100,000 shares (0.197%); RHB NOMINEES (TEMPATAN) SDN BHD for NG HONG BOON, 1,100,000 shares (0.197%); MERCSEC NOMINEES (TEMPATAN) SDN BHD for HO LIH MENG, 1,050,000 shares (0.188%); and AMSEC NOMINEES (TEMPATAN) SDN BHD, PLEDGED SECURITIES ACCOUNT - AMBANK (M) BERHAD FOR TAN HAI LIANG (SMART), 1,000,000 shares (0.179%).2025 年名单中的其他质押证券账户为 MOOMOO NOMINEES (ASING) SDN. BHD. 代 YANLING TONG 持有 1,144,900 股（0.205%）；MAYBANK NOMINEES (TEMPATAN) SDN BHD 代 TAN HAI LIANG 持有 1,100,000 股（0.197%）；RHB NOMINEES (TEMPATAN) SDN BHD 代 NG HONG BOON 持有 1,100,000 股（0.197%）；MERCSEC NOMINEES (TEMPATAN) SDN BHD 代 HO LIH MENG 持有 1,050,000 股（0.188%）；以及 AMSEC NOMINEES (TEMPATAN) SDN BHD 名下的 PLEDGED SECURITIES ACCOUNT - AMBANK (M) BERHAD FOR TAN HAI LIANG (SMART)，持有 1,000,000 股（0.179%）。
Source: annual report 2025, page 179.出处：2025 年年报第 179 页。
Revenue by business activity, 20242024 年各业务营业额占比
Source: annual report 2024, page 22.出处：2024 年年报第 22 页。
Revenue by geographical market, 20252025 年各地区营业额
Source: annual report 2025, page 155.出处：2025 年年报第 155 页。
Major events大事记
Source: annual report 2023, page 10.出处：2023 年年报第 10 页。
Source: annual report 2023, pages 23, 97.出处：2023 年年报第 23、97 页。
Source: annual report 2023, pages 7, 28.出处：2023 年年报第 7、28 页。
Source: annual report 2023, page 35.出处：2023 年年报第 35 页。
Source: annual report 2024, page 3.出处：2024 年年报第 3 页。
Source: annual report 2024, pages 19, 20.出处：2024 年年报第 19、20 页。
Source: annual report 2024, pages 18, 21.出处：2024 年年报第 18、21 页。
Source: annual report 2025, page 144.出处：2025 年年报第 144 页。
Source: annual report 2025, pages 46, 92.出处：2025 年年报第 46、92 页。
Source: annual report 2025, page 20.出处：2025 年年报第 20 页。
Source: annual report 2025, pages 22, 144.出处：2025 年年报第 22、144 页。
Revenue, profit or loss and operating cash营业额、盈利或亏损与营运现金
Assets, borrowings and equity资产、借款与权益
20232023 年
Operations brought in RM29.0 million. The group received RM33.0 million in cash proceeds from issuing shares, spent RM9.2 million on property, plant and equipment, and placed a net RM15.1 million in fixed deposits with maturities exceeding three months. It repaid RM6.0 million of bankers' acceptances, RM4.0 million of revolving credit, RM3.1 million of term loans and RM1.8 million of lease liabilities. Dividends paid were RM2.8 million.营运活动带来 RM29.0 million。集团收到发行股份的现金款项 RM33.0 million，购买产业、厂房与设备支出 RM9.2 million，并净存入 RM15.1 million 于期限超过三个月的定期存款。集团偿还银行承兑汇票 RM6.0 million、循环信贷 RM4.0 million、定期贷款 RM3.1 million，以及租赁负债 RM1.8 million。已付股息为 RM2.8 million。
Source: annual report 2023, pages 126, 127.出处：2023 年年报第 126、127 页。
20242024 年
Operations brought in RM24.8 million. Spending on property, plant and equipment was RM2.2 million, and net placements in fixed deposits with maturities exceeding three months were RM22.3 million. The group repaid RM1.9 million of term loans and RM1.5 million of lease liabilities, paid RM1.4 million of interest and RM7.3 million of dividends. Employees' share option exercises brought in RM239,400.营运活动带来 RM24.8 million。购买产业、厂房与设备支出为 RM2.2 million，期限超过三个月的定期存款净存入额为 RM22.3 million。集团偿还定期贷款 RM1.9 million、租赁负债 RM1.5 million，支付利息 RM1.4 million，以及股息 RM7.3 million。员工行使购股权带来 RM239,400。
Source: annual report 2024, pages 118, 119.出处：2024 年年报第 118、119 页。
20252025 年
Operations brought in RM15.3 million. The group withdrew a net RM29.1 million from fixed deposits with maturities exceeding three months and made net purchases of other investments of RM26.3 million. It spent RM1.3 million on property, plant and equipment, repaid RM2.0 million of term loans and RM1.5 million of lease liabilities, and paid RM1.3 million of interest. It paid RM109,321 to repurchase 1,170,500 shares. No dividend was paid and no new shares were issued.营运活动带来 RM15.3 million。集团从期限超过三个月的定期存款净提取 RM29.1 million，并净购买其他投资 RM26.3 million。购买产业、厂房与设备支出为 RM1.3 million，偿还定期贷款 RM2.0 million、租赁负债 RM1.5 million，以及支付利息 RM1.3 million。集团支付 RM109,321 回购 1,170,500 股。年内没有支付股息，也没有发行新股。
Source: annual report 2025, pages 99, 121, 122, 146.出处：2025 年年报第 99、121、122、146 页。
Across the years历年合看
Operating cash remained positive in all three report years, declining from RM29.0 million in 2023 to RM24.8 million in 2024 and RM15.3 million in 2025. Borrowings fell from RM29.1 million to RM27.1 million and then RM25.1 million. Cash and bank balances rose from RM40.2 million to RM50.6 million before falling to RM32.0 million. The group recorded a profit of RM20.7 million in 2023 and RM11.1 million in 2024, followed by a loss of RM1.3 million in 2025.三个报告年度的营运现金均为正数，由 2023 年的 RM29.0 million 降至 2024 年的 RM24.8 million，再降至 2025 年的 RM15.3 million。借款由 RM29.1 million 降至 RM27.1 million，再降至 RM25.1 million。现金与银行结余由 RM40.2 million 升至 RM50.6 million，随后降至 RM32.0 million。集团于 2023 年录得盈利 RM20.7 million，2024 年盈利 RM11.1 million，2025 年则亏损 RM1.3 million。
Source: annual report 2023, page 126; annual report 2024, page 118; annual report 2025, page 121.出处：2023 年年报第 126 页；2024 年年报第 118 页；2025 年年报第 121 页。
Still to be spent尚待支出
At the end of 2025, contracted capital expenditure for property, plant and equipment not yet provided for was RM205,760. The 2025 report's IPO proceeds table shows RM788,000 unused for business expansion and RM236,000 unused under the capex variation. On 24 December 2025, the board extended the utilisation timeframe for both categories to within 72 months.2025 年底，购买产业、厂房与设备的已签约但尚未入账资本支出为 RM205,760。2025 年报的首次公开售股款项用途表显示，业务扩展尚有 RM788,000 未使用，资本支出用途调整项下尚有 RM236,000 未使用。董事会于 2025 年 12 月 24 日把这两类款项的使用期限延长至 72 个月内。
Source: annual report 2025, pages 92, 161.出处：2025 年年报第 92、161 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 | 150,540,585 | 167,037,922 | 133,569,988 | 74,694,164 |
| Profit/(Loss) before tax税前盈利／亏损 | 19,288,445 | 25,023,839 | 14,441,962 | (525,390) |
| Profit/(Loss) for the financial year年度盈利／亏损 | 14,735,722 | 20,684,227 | 11,099,171 | (1,333,024) |
| Net cash from operating activities营运活动所得现金净额 | 19,836,934 | 29,032,583 | 24,764,531 | 15,256,330 |
| Purchase of property, plant and equipment购买产业、厂房与设备 | (2,767,301) | (9,245,184) | (2,212,628) | (1,282,825) |
| Dividends paid已付股息 | (5,600,000) | (2,800,000) | (7,283,990) | 0 |
| Total assets总资产 | 137,389,079 | 143,626,823 | 143,394,315 | 136,515,133 |
| Total borrowings借款总额 | 42,169,603 | 29,068,299 | 27,130,856 | 25,105,971 |
| Cash and bank balances现金与银行结余 | 6,664,966 | 40,211,850 | 50,644,468 | 32,045,786 |
| Total equity总权益 | 81,997,799 | 100,578,428 | 104,233,413 | 102,040,927 |
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 |
|---|---|---|
| The 2023 report planned a Klang Valley factory with annual capacity of 3,600 pieces, allocating RM0.61 million of IPO proceeds for 24 months of rental.2023 年报计划设立年产能 3,600 件的 Klang Valley 工厂，并拨出首次公开售股款项 RM0.61 million 支付 24 个月租金。 | The 2024 report says the Bangi facility began operations in September for office, storage and assembly of boxes and crates. It identifies the Bangi premises as the KV Branch but does not restate the planned capacity.2024 年报表示，Bangi 设施于 9 月开始营运，用作办公室、仓储及箱与板条箱装配。年报把 Bangi 场所称为 KV Branch，但没有重述原计划的产能。 Source: annual report 2023, page 29; annual report 2024, pages 7, 20.出处：2023 年年报第 29 页；2024 年年报第 7、20 页。 | Operations started; capacity not restated已开始营运；未重述产能 |
| The 2023 report intended Kulai assembly to commence in the fourth quarter of 2024 and planned assembly lines with annual capacity of 3,600 pieces.2023 年报计划 Kulai 装配业务于 2024 年第四季度开始，并拟安装年产能 3,600 件的装配线。 | The property lists in the 2024 and 2025 reports still describe the Kulai property as intended for office, storage and assembling. Neither report says when assembly started.2024 和 2025 年报的产业清单仍把 Kulai 产业描述为拟用作办公室、仓储及装配。两份年报都没有说装配业务何时开始。 Source: annual report 2023, pages 3, 29; annual report 2024, page 172; annual report 2025, page 176.出处：2023 年年报第 3、29 页；2024 年年报第 172 页；2025 年年报第 176 页。 | Start not confirmed in later reports后续年报未确认开始时间 |
| The 2024 report said the group was exploring acquisitions that would complement its capabilities and improve vertical integration.2024 年报表示，集团正在探索可补充现有能力及加强垂直整合的收购机会。 | The 2025 report says potential acquisitions were evaluated during the year, but the transaction did not materialise. Assessment of further opportunities continued.2025 年报表示，年内评估了潜在收购，但交易没有落实。集团继续评估其他机会。 Source: annual report 2024, page 28; annual report 2025, page 18.出处：2024 年年报第 28 页；2025 年年报第 18 页。 | No transaction materialised交易未落实 |
| The 2024 IPO proceeds table gave a utilisation timeframe of within 36 months for business expansion and capex variation.2024 年首次公开售股款项用途表列明，业务扩展及资本支出用途调整款项的使用期限为 36 个月内。 | The board extended both timeframes to within 72 months on 24 December 2025. The 2025 table still shows RM788,000 unused for business expansion and RM236,000 for capex variation.董事会于 2025 年 12 月 24 日把两项期限均延长至 72 个月内。2025 年的表格仍显示，业务扩展尚有 RM788,000 未使用，资本支出用途调整尚有 RM236,000 未使用。 Source: annual report 2024, page 90; annual report 2025, page 92.出处：2024 年年报第 90 页；2025 年年报第 92 页。 | Timeframe extended to 72 months期限延长至 72 个月 |
| The 2023 report set a target for women to represent at least 30% of the board.2023 年报设定女性至少占董事会 30% 的目标。 | The 2024 and 2025 reports both show women representing 29% of the board.2024 和 2025 年报均显示，女性占董事会 29%。 Source: annual report 2023, page 45; annual report 2024, page 38; annual report 2025, page 38.出处：2023 年年报第 45 页；2024 年年报第 38 页；2025 年年报第 38 页。 | Below the stated target低于所列目标 |
| The 2023 report said a full materiality assessment would be performed for the 2024 financial year.2023 年报表示，将为 2024 财政年度进行全面重要性评估。 | The 2024 report says a full materiality assessment was undertaken to evaluate sustainability risks and opportunities.2024 年报表示，已进行全面重要性评估，以评估可持续发展风险与机会。 Source: annual report 2023, page 43; annual report 2024, page 36.出处：2023 年年报第 43 页；2024 年年报第 36 页。 | Carried out已执行 |
What the reports leave open年报留下待看的事
- The latest report leaves RM788,000 of business expansion proceeds and RM236,000 of capex variation proceeds unused under the extended timeframe. Their eventual use remains open.最新年报显示，在延长期限下，业务扩展款项尚有 RM788,000 未使用，资本支出用途调整款项尚有 RM236,000 未使用。这些款项最终如何使用仍待后续披露。
Source: annual report 2025, page 92.出处：2025 年年报第 92 页。
- Berjayapak Sdn. Bhd. faces two civil suits from former employees concerning alleged industrial accidents, and an industrial court claim concerning alleged wrongful termination and wages. The report says the second civil suit remained uncertain and was scheduled for trial on 23 and 24 September 2026. No provision was recognised for the disclosed contingent liabilities.Berjayapak Sdn. Bhd. 面对前员工就涉嫌工伤事故提出的两宗民事诉讼，以及一宗涉及涉嫌不当解雇和工资的工业法庭申索。年报表示，第二宗民事诉讼的结果仍不确定，审讯定于 2026 年 9 月 23 日及 24 日进行。所披露的或有负债没有计提拨备。
Source: annual report 2025, pages 171, 172.出处：2025 年年报第 171、172 页。
- The group continued assessing acquisitions after no transaction materialised in 2025. The latest report does not identify a completed acquisition from that search.2025 年没有收购交易落实后，集团继续评估收购机会。最新年报没有列出由这项搜寻促成的已完成收购。
Source: annual report 2025, pages 18, 29.出处：2025 年年报第 18、29 页。
- The 2025 report says order volumes from new customers remained measured. Two major customers contributed RM31.1 million of revenue, and the group continued seeking customers across more industries.2025 年报表示，新客户的订单量仍有限。两名主要客户贡献营业额 RM31.1 million，集团继续在更多行业寻找客户。
Source: annual report 2025, pages 19, 25, 125.出处：2025 年年报第 19、25、125 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-28.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 2026-10-28。