DailySpaceFarm Price Holdings Berhad
0304 · Main Market主板（Main Market） · annual reports 2024 to 2025, 1081 entries read2024 至 2025 年报，共读出 1081 条
The company这家公司
Farm Price is a Johor-based wholesaler and distributor of fresh vegetables, food and beverage products and groceries, and operates a retail grocery store named Mamaku in Ulu Tiram, Johor.Farm Price 是一家位于柔佛的新鲜蔬菜、餐饮产品与杂货批发及分销商，并在柔佛地南（Ulu Tiram）经营一家名为 Mamaku 的零售杂货店。
Source: annual report 2024, pages 5, 28; annual report 2025, page 13.出处：2024 年年报第 5、28 页；2025 年年报第 13 页。
In 2025, wholesale distribution accounted for RM120,690,823 (93.8%) of external revenue, while retailing accounted for RM7,946,379 (6.2%).2025 年，批发分销占对外营业额的 RM120,690,823（93.8%），而零售占 RM7,946,379（6.2%）。
Source: annual report 2025, pages 31, 32, 158, 159.出处：2025 年年报第 31、32、158、159 页。
Group operations are centered at the Senai Centralised Distribution Centre in Johor, where an expansion enlarged the built-up area from 78,721 sq ft to 149,548 sq ft. The group also operates regional distribution centres in Cameron Highlands, Nilai and Kota Kinabalu, and a sales and marketing office in Singapore.集团营运以柔佛的士乃中央分销中心为核心，该中心通过扩建将建筑面积从 78,721 sq ft 增至 149,548 sq ft。集团还在金马仑高原、汝来和亚庇设有区域分销中心，并在新加坡设有销售与营销办事处。
Source: annual report 2024, page 27; annual report 2025, pages 8, 29.出处：2024 年年报第 27 页；2025 年年报第 8、29 页。
TLC Consolidation Sdn. Bhd. is the holding company and holds 270,000,000 shares (59.83% of issued shares). Managing Director Dr. Tiong Lee Chian and Executive Director Liew Tsuey Er are in a spousal relationship. Two holders are deemed interested through TLC Consolidation Sdn. Bhd. Pledged securities accounts for Tiong Lee Chian held 11,000,000 shares (2.44%) and 1,716,900 shares (0.38%), while a pledged securities account for Liew Tsuey Er held 8,988,400 shares (1.99%).TLC Consolidation Sdn. Bhd. 为控股公司，持有 270,000,000 股（占已发行股份的 59.83%）。董事经理 Dr. Tiong Lee Chian 与执行董事 Liew Tsuey Er 处于配偶关系。有两名持股人通过 TLC Consolidation Sdn. Bhd. 被视作拥有权益。为 Tiong Lee Chian 开立的抵押证券账户分别持有 11,000,000 股（2.44%）及 1,716,900 股（0.38%），而为 Liew Tsuey Er 开立的抵押证券账户持有 8,988,400 股（1.99%）。
Source: annual report 2025, pages 21, 101, 169, 170, 171.出处：2025 年年报第 21、101、169、170、171 页。
Save for Dr. Tiong Lee Chian and Liew Tsuey Er, none of the other directors or key senior management has any family relationship with any director or major shareholder. In 2025, the company reviewed the proposed appointment of a new Chief Financial Officer.除 Dr. Tiong Lee Chian 与 Liew Tsuey Er 外，其他董事及主要高级管理人员与任何董事或主要股东均无亲属关系。2025 年，公司审议了新任首席财务官的人选任命建议。
Source: annual report 2025, pages 21, 23, 65.出处：2025 年年报第 21、23、65 页。
Revenue by country, 20252025 年按国家划分营业额占比
Source: annual report 2025, page 32.出处：2025 年年报第 32 页。
Revenue by segment, 20252025 年各业务部门营业额占比
Source: annual report 2025, page 31.出处：2025 年年报第 31 页。
Major events大事记
Source: annual report 2024, page 3; annual report 2025, page 3.出处：2024 年年报第 3 页；2025 年年报第 3 页。
Source: annual report 2024, page 11; annual report 2025, page 14.出处：2024 年年报第 11 页；2025 年年报第 14 页。
Source: annual report 2024, pages 3, 29, 76.出处：2024 年年报第 3、29、76 页。
Source: annual report 2024, page 29; annual report 2025, page 8.出处：2024 年年报第 29 页；2025 年年报第 8 页。
Source: annual report 2025, pages 8, 98.出处：2025 年年报第 8、98 页。
Source: annual report 2025, pages 8, 126.出处：2025 年年报第 8、126 页。
Source: annual report 2025, pages 12, 100.出处：2025 年年报第 12、100 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Assets, equity and borrowings资产、权益与借款
20242024 年
The group raised RM24.48 million from its initial public offering on the ACE Market through the issuance of 102,000,000 new ordinary shares at RM0.24 each, receiving net proceeds of RM23,127,233 after share issue transaction costs of RM1,352,767. Net cash from operating activities was RM9,937,566. Net cash used in investing activities was RM3,062,256, including RM3,946,162 for purchases of property, plant and equipment, while net cash acquired from subsidiaries was RM893,231. Net cash generated from financing activities was RM19,209,655, including repayments of term loans of RM1,283,444 and bankers' acceptances of RM1,612,161. Cash and bank balances stood at RM16,157,390, alongside short-term deposits of RM13,471,147. No dividend was declared or paid.集团在创业板首次公开募股中，以每股 RM0.24 发行 102,000,000 股新普通股，筹集 RM24.48 million，扣除 RM1,352,767 的股份发行交易成本后，所得款项净额为 RM23,127,233。营运活动所得现金净额为 RM9,937,566。投资活动所用现金净额为 RM3,062,256，其中包括购买物业、厂房及设备的 RM3,946,162，而收购子公司获得的现金净额为 RM893,231。融资活动产生现金净额 RM19,209,655，其中包括偿还定期贷款 RM1,283,444 及银行承兑汇票 RM1,612,161。现金与银行结余为 RM16,157,390，此外还有短期存款 RM13,471,147。公司未宣派或支付股息。
Source: annual report 2024, pages 9, 80, 82, 90, 94, 115.出处：2024 年年报第 9、80、82、90、94、115 页。
20252025 年
Operating activities generated net cash of RM12,325,569. Net cash used in investing activities was RM9,849,261, including RM15,562,939 paid for purchases of property, plant and equipment and RM3,000,000 for the acquisition of business, offset by RM9,146,121 from changes in non-short term deposits. Financing activities generated net cash of RM10,463,884, including term loans drawdown of RM12,453,015 and proceeds of RM559,575 from issuing 1,243,500 new ordinary shares at RM0.45 each, while term loan repayments took RM465,847, hire purchase repayments took RM825,529, lease liabilities repayments took RM418,408, and interest paid took RM838,922. Total borrowings stood at RM23.66 million, and cash and bank balances reached RM23,961,924. No dividend was recommended or paid.营运活动产生现金净额 RM12,325,569。投资活动所用现金净额为 RM9,849,261，其中包括购买物业、厂房及设备的 RM15,562,939 以及收购业务的 RM3,000,000，非短期存款变动带来的 RM9,146,121 对此有所抵销。融资活动产生现金净额 RM10,463,884，包括提取定期贷款 RM12,453,015 以及按每股 RM0.45 发行 1,243,500 股新普通股筹得的 RM559,575，而偿还定期贷款支出 RM465,847、偿还租购应付款项支出 RM825,529、偿还租赁负债支出 RM418,408，且支付利息 RM838,922。总借款为 RM23.66 million，现金与银行结余达 RM23,961,924。公司未建议或支付股息。
Source: annual report 2025, pages 30, 31, 96, 108, 109.出处：2025 年年报第 30、31、96、108、109 页。
Across the two years两年合看
Total assets increased from RM48,459,928 at end 2023 to RM81,853,453 in 2024 and RM107,169,309 in 2025. Non-current loans and borrowings rose from RM9,456,833 in 2023 to RM20,688,105 in 2025. No dividend was declared or paid in either year.总资产由 2023 年底的 RM48,459,928 增至 2024 年的 RM81,853,453，并在 2025 年达到 RM107,169,309。非流动贷款与借款从 2023 年的 RM9,456,833 增至 2025 年的 RM20,688,105。这两年均未宣派或支付股息。
Source: annual report 2024, pages 9, 80; annual report 2025, page 96.出处：2024 年年报第 9、80 页；2025 年年报第 96 页。
Still to be spent尚未支出的承诺
The RM6.40 million allocated from IPO proceeds for the construction of new facilities on Lot 55359 was fully utilised. On 21 November 2025, the company announced an extension of timeframe to utilise IPO proceeds.首次公开募股所得款项中拨作在 Lot 55359 建设新设施的 RM6.40 million 已悉数动用。2025 年 11 月 21 日，公司宣布延长动用首次公开募股款项的期限。
Source: annual report 2024, page 9; annual report 2025, pages 86, 154.出处：2024 年年报第 9 页；2025 年年报第 86、154 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 | 2023 | 2024 | 2025 |
|---|---|---|---|
| RM令吉 | RM令吉 | RM令吉 | |
| Revenue营业额 | 114,199,373 | 122,969,752 | 128,637,202 |
| Profit before tax税前盈利 | 11,782,940 | 13,955,865 | 12,800,275 |
| Profit for the financial year财政年度盈利 | 8,701,626 | 10,327,367 | 9,118,621 |
| Net cash from operating activities营运活动所得现金净额 | 6,459,418 | 9,937,566 | 12,325,569 |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (2,460,925) | (3,946,162) | (15,562,939) |
| Total assets总资产 | 48,459,928 | 81,853,453 | 107,169,309 |
| Total equity总权益 | 24,698,571 | 58,831,743 | 68,291,620 |
| Non-current loans and borrowings非流动贷款与借款 | 9,456,833 | 9,815,444 | 20,688,105 |
| Current loans and borrowings流动贷款与借款 | 3,588,025 | 2,380,764 | 2,969,884 |
| Cash and bank balances现金与银行结余 | 3,404,560 | 16,157,390 | 23,961,924 |
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 |
|---|---|---|
| Expansion of the Senai Centralised Distribution Centre, increasing built-up area from 78,721 sq ft to 149,548 sq ft, expected to be completed by end of 2025士乃中央分销中心扩建，将建筑面积从 78,721 sq ft 增至 149,548 sq ft，预计于 2025 年底完工 | Expansion works completed in 2025, increasing the built-up area to 149,548 sq ft, with the expanded facility expected to be operational by mid-2026.扩建工程于 2025 年完工，建筑面积增至 149,548 sq ft，扩建设施预计于 2026 年中旬投入营运。 Source: annual report 2024, pages 9, 29; annual report 2025, pages 25, 29.出处：2024 年年报第 9、29 页；2025 年年报第 25、29 页。 | Construction completed工程完工 |
| To utilise RM6.40 million of IPO proceeds within 24 months to construct additional operational and related facilities on Lot 55359 at the Senai Centralised Distribution Centre在 24 个月内动用 RM6.40 million 首次公开募股款项，在士乃中央分销中心 Lot 55359 建设额外营运及相关设施 | The RM6.40 million allocated for construction of new facilities on Lot 55359 was fully utilised.拨作在 Lot 55359 建设新设施的 RM6.40 million 款项已悉数动用。 Source: annual report 2024, pages 9, 29; annual report 2025, page 86.出处：2024 年年报第 9、29 页；2025 年年报第 86 页。 | Fully utilised已悉数动用 |
| Since March 2023, an external contractor has been engaged to collect organic waste for composting at an organic farm自 2023 年 3 月起已聘请外部承包商收集有机废料并在有机农场进行堆肥 | In 2025, the group was not able to process waste into compost as the project was deferred to a subsequent year, while waste redirected to animal feed increased.2025 年，由于项目推迟至后续年份，集团未能将废料加工成堆肥，而转作动物饲料的废料有所增加。 Source: annual report 2024, pages 30, 42; annual report 2025, pages 44, 45.出处：2024 年年报第 30、42 页；2025 年年报第 44、45 页。 | Deferred已推迟 |
| To establish a dedicated Sustainability Committee to strengthen accountability and focus on sustainability设立专门的可持续发展委员会以强化问责并聚焦可持续发展 | In 2025, the group formalised sustainability oversight through the Risk & Sustainability Committee.2025 年，集团通过风险与可持续发展委员会正式确立了可持续发展监督机制。 Source: annual report 2024, page 36; annual report 2025, page 38.出处：2024 年年报第 36 页；2025 年年报第 38 页。 | Oversight given to Risk & Sustainability Committee由风险与可持续发展委员会监督 |
| Planning to formalise a materiality assessment; greenhouse gas emissions monitoring still in preliminary stages计划正式确立重大性评估；温室气体排放监测仍处于初步阶段 | In 2025, the group stated it was still formalising its materiality assessment and emissions reporting framework.2025 年，集团表示仍在正式确立其重大性评估与排放报告框架。 Source: annual report 2024, page 41; annual report 2025, pages 43, 52.出处：2024 年年报第 41 页；2025 年年报第 43、52 页。 | Still in progress仍进行中 |
What the reports leave open年报留下待看的事
- Whether the proposed transfer of the company's listing from the ACE Market to the Main Market of Bursa Malaysia Securities Berhad, submitted in February 2026, receives regulatory approval.2026 年 2 月递交的将公司上市地位由创业板转至马来西亚证券交易所主板的建议能否获得监管批准。
Source: annual report 2025, pages 35, 100.出处：2025 年年报第 35、100 页。
- Operational commencement of the enlarged Senai Centralised Distribution Centre by mid-2026, and whether pallet capacity reaches the estimated 40,000 pallets annually from approximately 29,669 pallets.扩建后的士乃中央分销中心于 2026 年中旬投入营运的进展，以及托盘容量能否由约 29,669 个托盘提升至预期的每年约 40,000 个托盘。
Source: annual report 2025, pages 25, 29.出处：2025 年年报第 25、29 页。
- Whether the acquired business of Hong Yun achieves its aggregate revenue target within the first 3 months, which determines whether part of the purchase consideration of RM900,000 is subject to proportionate reduction, against which contingent consideration receivable of RM410,364 was estimated.所收购的 Hong Yun 业务能否在首 3 个月内达成总营业额目标，从而决定 RM900,000 的部分收购对价是否须按比例扣减；对此已确认估计公允价值为 RM410,364 的应收或有对价。
Source: annual report 2025, page 126.出处：2025 年年报第 126 页。
- Whether any of the 224,999,998 warrants expiring 7 July 2030 are exercised at the exercise price of RM0.40 per warrant, which would raise up to RM90 million earmarked for working capital.2030 年 7 月 7 日到期的 224,999,998 份凭单会否按每份 RM0.40 的行权价行使；若全数行使，将筹集至多 RM90 million 用于营运资金。
Source: annual report 2025, pages 12, 172.出处：2025 年年报第 12、172 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-30.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 2026-10-30。