DailySpaceKTI Landmark Berhad
0308 · ACE Market创业板（ACE Market） · annual reports 2024 to 2025, 1146 entries read2024 至 2025 年报，共读出 1146 条
The company这家公司
KTI Landmark Berhad is a Sabah-based property developer primarily involved in design and build construction as well as property development services, utilising in-house Industrialised Building System (IBS) technology.KTI Landmark Berhad 是一家沙巴的房地产开发商，主要从事设计与施工建筑以及房地产开发服务，并采用自有的工业化建筑系统（IBS）技术。
Source: annual report 2024, page 27; annual report 2025, page 30.出处：2024 年年报第 27 页；2025 年年报第 30 页。
In 2025, by contract type in Note 4, property development brought RM206,212,024, construction RM98,591,887, project facilitation services RM5,270,143, sale of land held for property development RM1,600,000, and sale of completed properties RM1,002,000.2025 年，按附注 4 的合同类型划分，物业开发收入为 RM206,212,024，建筑为 RM98,591,887，项目协助服务为 RM5,270,143，待开发物业土地出售为 RM1,600,000，已竣工物业出售为 RM1,002,000。
Source: annual report 2025, pages 101, 131.出处：2025 年年报第 101、131 页。
Lembaga Pembangunan Perumahan dan Bandar (LPPB) Sabah is the group's major client, with KTI acting as financing contractor constructing on development lands belonging to LPPB. In both 2024 and 2025, 1 major customer from the construction segment contributed more than 10% of total revenue. In 2024, 1 customer represented 37% of gross trade receivables, while in 2025 2 customers represented 34%.沙巴房屋及城镇发展局（LPPB）是集团的主要客户，KTI 作为融资承包商在属于 LPPB 的开发用地上进行建设。在 2024 年和 2025 年，建筑部门均有 1 家主要客户贡献超过总营业额的 10%。2024 年，1 家客户占贸易应收账款总额的 37%，而 2025 年则有 2 家客户合计占 34%。
Source: annual report 2024, pages 36, 135, 139; annual report 2025, pages 130, 136.出处：2024 年年报第 36、135、139 页；2025 年年报第 130、136 页。
Datuk Dr Gordon Loke Theen Fatt and Datin Chin Mee Leen are husband and wife and together held 595,000,000 shares, representing 74.375% of issued shares. In the 2024 report, Chin Mee Leen held 485,640,500 shares (60.705%), while 109,359,500 shares (13.669%) were in a pledged securities account under Maybank Nominees for Loke Theen Fatt. In the 2025 report, Chin Mee Leen held 225,640,500 shares (28.205%), while Maybank Nominees held 369,359,500 shares (46.170%) pledged for Loke Theen Fatt. Stella Loke Pei Wen and Wilson Loke Choon Syn are their children.Datuk Dr Gordon Loke Theen Fatt 与 Datin Chin Mee Leen 为夫妻，合计持有 595,000,000 股，占已发行股份的 74.375%。在 2024 年年报中，Chin Mee Leen 持有 485,640,500 股（60.705%），而 Maybank Nominees 为 Loke Theen Fatt 抵押的证券账户持有 109,359,500 股（13.669%）。在 2025 年年报中，Chin Mee Leen 持有 225,640,500 股（28.205%），而 Maybank Nominees 为 Loke Theen Fatt 抵押的证券账户持有 369,359,500 股（46.170%）。Stella Loke Pei Wen 和 Wilson Loke Choon Syn 是他们的子女。
Source: annual report 2024, pages 21, 162, 163; annual report 2025, pages 23, 156, 157.出处：2024 年年报第 21、162、163 页；2025 年年报第 23、156、157 页。
On 22 November 2024, a director was redesignated as Group Managing Director and Group Chief Executive Officer. In July 2024, Harjeet joined the group as Chief Financial Officer. On 15 August 2025, an additional female director was appointed to the board.2024 年 11 月 22 日，一名董事调任为集团董事经理兼集团首席执行员。2024 年 7 月，Harjeet 加入集团担任首席财务员。2025 年 8 月 15 日，一名新增的女性董事获委任加入董事会。
Source: annual report 2024, pages 17, 23; annual report 2025, pages 17, 18, 24, 27.出处：2024 年年报第 17、23 页；2025 年年报第 17、18、24、27 页。
Revenue by type, 20252025 年按业务类型划分的营业额
Source: annual report 2025, page 101.出处：2025 年年报第 101 页。
Major events大事记
Source: annual report 2024, pages 8, 74.出处：2024 年年报第 8、74 页。
Source: annual report 2024, page 9; annual report 2025, page 3.出处：2024 年年报第 9 页；2025 年年报第 3 页。
Source: annual report 2024, page 17; annual report 2025, page 17.出处：2024 年年报第 17 页；2025 年年报第 17 页。
Source: annual report 2025, page 10.出处：2025 年年报第 10 页。
Source: annual report 2025, page 146.出处：2025 年年报第 146 页。
Source: annual report 2025, page 66.出处：2025 年年报第 66 页。
Revenue and profit before tax营业额与税前盈利
Assets, borrowings and equity资产、借款与权益
20242024 年
The company raised RM48 million in its initial public offering on the ACE Market, with net proceeds of RM46,040,564 after share issuance expenses. Net cash used in operating activities was RM123,824,418, while cash payments for the purchase of property, plant and equipment took RM61,000,544. Financing activities generated net cash of RM204,478,129, including drawdowns of RM120,151,564 in bridging loans, RM30,727,771 in term loans, RM31,344,000 in bankers' acceptances, RM12,564,557 under CMC-i, and RM10,000,000 under CMRC-i, while repayments of bankers' acceptances were RM27,851,000 and term loans were RM3,490,397. A dividend of RM15,000,000 was paid by KTID, and total borrowings reached RM353,396,525 at year end.公司在创业板首次公开募股中募集 RM48 million，扣除股份发行费用后净所得为 RM46,040,564。营运活动所用现金净额为 RM123,824,418，购买物业、厂房及设备的现金支付为 RM61,000,544。融资活动产生净现金 RM204,478,129，包括提取过渡贷款 RM120,151,564、定期贷款 RM30,727,771、银行承兑汇票 RM31,344,000、CMC-i 贷款 RM12,564,557 以及 CMRC-i 贷款 RM10,000,000；同时偿还银行承兑汇票 RM27,851,000 及定期贷款 RM3,490,397。KTID 派付了 RM15,000,000 的股息，年末总借款达到 RM353,396,525。
Source: annual report 2024, pages 5, 89, 90, 134, 151.出处：2024 年年报第 5、89、90、134、151 页。
20252025 年
Net cash used in operating activities was RM143,621,017, and cash payments for the purchase of property, plant and equipment were RM55,597,054. Financing activities generated net cash of RM182,823,741, including drawdowns of RM117,274,753 in term loans, RM106,342,926 in bridging loans, and RM27,750,381 under CMCL-i, while repayments included RM36,614,632 of term loans, RM31,413,699 of bridging loans, and RM2,680,192 under CMCL-i. A dividend of RM2,400,000 was paid on 27 March 2025. Total borrowings rose to RM544,703,231, while lease liabilities increased to RM16,571,462.营运活动所用现金净额为 RM143,621,017，购买物业、厂房及设备的现金支付为 RM55,597,054。融资活动产生净现金 RM182,823,741，包括提取定期贷款 RM117,274,753、过渡贷款 RM106,342,926 以及 CMCL-i 贷款 RM27,750,381；同时偿还定期贷款 RM36,614,632、过渡贷款 RM31,413,699 及 CMCL-i 贷款 RM2,680,192。公司于 2025 年 3 月 27 日派付了 RM2,400,000 的股息。年末总借款升至 RM544,703,231，租赁负债增至 RM16,571,462。
Source: annual report 2025, pages 27, 83, 84, 140, 148.出处：2025 年年报第 27、83、84、140、148 页。
Across the two years两年合看
The group recorded negative operating cash flow in both years, using RM123,824,418 in 2024 and RM143,621,017 in 2025. Total borrowings rose from RM166,062,251 at end-2023 to RM353,396,525 in 2024 and RM544,703,231 in 2025, and the debt-to-equity ratio rose from 127% in 2023 to 207% in 2024 and 292% in 2025. Properties under development charged to licensed banks increased from RM328,339,025 in 2024 to RM415,615,766 in 2025.集团在这两年均录得负营运现金流，在 2024 年使用 RM123,824,418，在 2025 年使用 RM143,621,017。总借款由 2023 年底的 RM166,062,251 增至 2024 年的 RM353,396,525 和 2025 年的 RM544,703,231，负债权益比从 2023 年的 127% 升至 2024 年的 207% 及 2025 年的 292%。抵押给持牌银行的开发中物业从 2024 年的 RM328,339,025 增至 2025 年的 RM415,615,766。
Source: annual report 2024, pages 39, 89, 111, 120, 151; annual report 2025, pages 83, 106, 116, 140, 148.出处：2024 年年报第 39、89、111、120、151 页；2025 年年报第 83、106、116、140、148 页。
Still to be spent尚未支出的承诺
At the end of 2024, RM18 million of IPO proceeds allocated for land acquisition remained unutilised, but by the end of 2025 the full RM48.0 million of IPO proceeds had been utilised. Capital commitments approved and contracted for project development land stood at RM22,547,879 in both 2024 and 2025. In addition, the present value of a remaining balance payable was RM17,106,597 at end-2025, with RM10,079,276 due within 1 year.2024 年底，用于土地收购的 RM18 million 首次公开募股所得尚未动用，但到 2025 年底，全部 RM48.0 million 募资已全额使用完毕。已批准并签约的项目开发土地资本承诺在 2024 年和 2025 年均为 RM22,547,879。此外，一笔剩余应付款项在 2025 年底的现值为 RM17,106,597，其中 RM10,079,276 须在 1 年内支付。
Source: annual report 2024, pages 9, 74, 138; annual report 2025, pages 27, 32, 62, 123, 134.出处：2024 年年报第 9、74、138 页；2025 年年报第 27、32、62、123、134 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 | 120,166,504 | 175,356,530 | 312,676,054 |
| Profit before tax税前盈利 | 17,301,341 | 8,458,332 | 24,186,337 |
| Profit after tax attributable to owners归属于母公司所有者的税后盈利 | 13,822,127 | 8,518,674 | 18,728,856 |
| Net cash used in operating activities营运活动所用现金净额 | (20,016,330) | (123,824,418) | (143,621,017) |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (27,148,576) | (61,000,544) | (55,597,054) |
| Dividend paid已付股息 | (15,000,000) | (15,000,000) | (2,400,000) |
| Total assets总资产 | 376,828,722 | 677,621,244 | 931,458,499 |
| Borrowings借款 | 166,062,251 | 353,396,525 | 544,703,231 |
| Cash and bank balances现金及银行结余 | 19,597,951 | 31,659,492 | 37,444,153 |
| Total equity总权益 | 136,606,787 | 176,166,025 | 192,494,881 |
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 |
|---|---|---|
| RM18 million of IPO proceeds allocated to partly fund the acquisition of land for development within 12 months首次公开募股所得中的 RM18 million 拨用于 12 个月内部分资助收购开发用地 | The 2025 report states the RM48.0 million raised has been fully utilised, with all proceeds for land acquisition utilised.2025 年年报说明所募集的 RM48.0 million 已全额使用，其中土地收购款项已全部使用完毕。 Source: annual report 2024, pages 9, 74; annual report 2025, pages 27, 32.出处：2024 年年报第 9、74 页；2025 年年报第 27、32 页。 | Carried out已执行 |
| IPO proceeds allocated for upgrading existing or expanding the casting yard and IBS facility within 24 months首次公开募股所得拨用于 24 个月内升级现有或扩建预制构件制造厂及 IBS 设施 | The 2025 report states the RM48.0 million raised has been fully utilised, including for the expansion of IBS facilities and casting yard.2025 年年报说明所募集的 RM48.0 million 已全额使用完毕，包括用于扩建 IBS 设施和预制构件制造厂。 Source: annual report 2024, page 74; annual report 2025, pages 27, 32.出处：2024 年年报第 74 页；2025 年年报第 27、32 页。 | Carried out已执行 |
| Commenced construction of another 4 blocks of 5-storey apartments and 42 shop lots at Residensi Seri Akasia after completing Blocks A and B在完成 A 座和 B 座后，开始建设 Residensi Seri Akasia 的另外 4 座 5 层公寓及 42 间店铺 | The 2025 report recorded the full completion of Residensi Seri Akasia.2025 年年报记录了 Residensi Seri Akasia 的全面竣工。 Source: annual report 2024, page 37; annual report 2025, pages 28, 33.出处：2024 年年报第 37 页；2025 年年报第 28、33 页。 | Carried out已执行 |
| The Logg, with a total GDV of RM1.25 billion, was expected to be completed in 2025总发展总值 RM1.25 billion 的 The Logg 预计于 2025 年竣工 | The 2025 report states The Logg is progressing toward anticipated completion in the second half of 2026.2025 年年报指出 The Logg 预计将在 2026 年下半年竣工。 Source: annual report 2024, page 36; annual report 2025, pages 28, 33.出处：2024 年年报第 36 页；2025 年年报第 28、33 页。 | Still in progress仍在进行中 |
| Accepted a Letter of Intent for a joint development of Sabah Cultural Complex through a Public-Private Partnership, with construction works to be outlined within six months接纳沙巴文化综合体公私合营联合开发意向书，须在六个月内列明建筑工程 | The 2025 report states subsidiary K.T.I. Sdn Bhd was appointed by the Sabah state government to develop a cultural complex in Kinarut on a public-private partnership basis.2025 年年报指出子公司 K.T.I. Sdn Bhd 获沙巴州政府委任，以公私合营模式在京那律开发文化综合体。 Source: annual report 2024, page 9; annual report 2025, page 9.出处：2024 年年报第 9 页；2025 年年报第 9 页。 | Appointed to develop已获委任开发 |
What the reports leave open年报留下待看的事
- Total borrowings stood at RM544,703,231 against total equity of RM192,494,881, with a debt-to-equity ratio of 292% and current borrowings of RM382,772,646.总借款达 RM544,703,231，而总权益为 RM192,494,881，负债权益比为 292%，其中流动借款为 RM382,772,646。
Source: annual report 2025, pages 80, 140, 148.出处：2025 年年报第 80、140、148 页。
- The tax dispute involving subsidiary LPSB for assessments of RM14,670,037.27 has reverted to the Special Commissioners of Income Tax, with a mention date fixed on 28 April 2026.涉及子公司 LPSB 达 RM14,670,037.27 征税额的税务纠纷已发回所得税特别委员会审理，过堂日期定于 2026 年 4 月 28 日。
Source: annual report 2025, pages 144, 145.出处：2025 年年报第 144、145 页。
- On 10 March 2026, subsidiary KTISB received a statutory notice demanding RM19,194,000 in relation to a High Court civil suit, and on 21 April 2026 obtained an ad interim Fortuna injunction restraining the presentation of a winding-up petition against it.2026 年 3 月 10 日，子公司 KTISB 收到一份就一宗高庭民事诉讼索偿 RM19,194,000 的法定要求偿债书，其后于 2026 年 4 月 21 日取得临时福图纳禁制令，禁止对方提呈针对它的清盘呈请。
Source: annual report 2025, page 147.出处：2025 年年报第 147 页。
- Completion of flagship project The Logg and its hotel, with 370 rooms, is scheduled for the second half of 2026 to establish recurring income.拥有 370 间客房的旗舰项目 The Logg 及其酒店计划于 2026 年下半年完工，以建立经常性收入。
Source: annual report 2024, page 36; annual report 2025, pages 28, 29, 33.出处：2024 年年报第 36 页；2025 年年报第 28、29、33 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。