DailySpaceBursa Malaysia companies, read from their annual reports从年报读懂大马上市公司

Ocean Fresh Berhad

0312 · ACE Market创业板(ACE Market) · annual reports 2024 to 2025, 941 entries read2024 至 2025 年报,共读出 941 条

Revenue, 20252025 年营业额RM157.1m1.57亿令吉down 4.1% from比 2024 年减少 4.1%,当年为 RM163.7m1.64亿令吉 in 2024
Profit after taxation, 20252025 年税后盈利RM0.94m94万令吉down 51.2% from比 2024 年减少 51.2%,当年为 RM1.92m192万令吉 in 2024
Net cash from operating activities, 20252025 年营运活动所得现金净额RM1.99m199万令吉down 46.9% from比 2024 年减少 46.9%,当年为 RM3.74m374万令吉 in 2024
Short-term investments, 20252025 年短期投资RM9.04m904万令吉down 17.8% from比 2024 年减少 17.8%,当年为 RM11.0m1.10千万令吉 in 2024

The company这家公司

Ocean Fresh processes and trades frozen seafood and provides seafood processing services. Its subsidiary Ocean Fresh Seafood Products Sdn. Bhd. is a wholesaler, retailer, processor and exporter. The company listed on the ACE Market on 4 July 2024.Ocean Fresh 加工和买卖冷冻海产,并提供海产加工服务。旗下 Ocean Fresh Seafood Products Sdn. Bhd. 从事批发、零售、加工和出口。公司于 2024 年 7 月 4 日在创业板上市。

Source: annual report 2024, pages 66, 126; annual report 2025, pages 140, 149.出处:2024 年年报第 66、126 页;2025 年年报第 140、149 页。

In 2025, frozen seafood sales brought RM154.6 million and processing services RM2.5 million. Molluscs accounted for 70.48% of group revenue.2025 年,冷冻海产销售收入为 RM154.6 million,加工服务收入为 RM2.5 million。软体类海产占集团营业额的 70.48%。

Source: annual report 2025, pages 21, 140, 141.出处:2025 年年报第 21、140、141 页。

The 2025 shareholding tables list Treasure Gain Sdn Bhd with 51,840,300 shares (24.67%), Untung Besar Sdn Bhd with 34,649,000 (16.49%) and Sierra Mode Sdn Bhd with 13,884,000 (6.61%). Chia Hooi Huak held 13,692,000 shares (6.52%) and Siang Hai Yong 12,294,000 (5.85%).2025 年股权表列明,Treasure Gain Sdn Bhd 持有 51,840,300 股(24.67%),Untung Besar Sdn Bhd 持有 34,649,000 股(16.49%),Sierra Mode Sdn Bhd 持有 13,884,000 股(6.61%)。Chia Hooi Huak 持有 13,692,000 股(6.52%),Siang Hai Yong 持有 12,294,000 股(5.85%)。

Source: annual report 2025, pages 169, 170.出处:2025 年年报第 169、170 页。

The 2025 largest-holder list includes Affin Hwang Nominees (Tempatan) Sdn. Bhd. pledged securities accounts for Er Ka Yong, 1,300,000 shares (0.62%); Leong Kim Fong, 988,200 (0.47%); and Toh Eng Keat (M04), 619,100 (0.29%). Maybank Nominees (Tempatan) Sdn Bhd pledged accounts held 913,000 shares (0.43%) for Teh Boon Chiew and 677,200 (0.32%) for Syed Mudzaffar Bin Syed Zainul Abidin. HLB Nominees (Tempatan) Sdn Bhd held 936,500 shares (0.45%) in a pledged account for Heng Chang Hooi. CGS International Nominees Malaysia (Tempatan) Sdn. Bhd. held 630,000 shares (0.30%) in a pledged account for Yan Hock Chuan (Empire Gallery-CL).2025 年大股东名单包括 Affin Hwang Nominees (Tempatan) Sdn. Bhd. 名下的抵押证券账户:Er Ka Yong 为 1,300,000 股(0.62%),Leong Kim Fong 为 988,200 股(0.47%),Toh Eng Keat (M04) 为 619,100 股(0.29%)。Maybank Nominees (Tempatan) Sdn Bhd 名下的抵押账户为 Teh Boon Chiew 持有 913,000 股(0.43%),为 Syed Mudzaffar Bin Syed Zainul Abidin 持有 677,200 股(0.32%)。HLB Nominees (Tempatan) Sdn Bhd 为 Heng Chang Hooi 的抵押账户持有 936,500 股(0.45%)。CGS International Nominees Malaysia (Tempatan) Sdn. Bhd. 为 Yan Hock Chuan (Empire Gallery-CL) 的抵押账户持有 630,000 股(0.30%)。

Source: annual report 2025, pages 170, 171.出处:2025 年年报第 170、171 页。

Teo Chee Han is the son of Darmanto, a substantial shareholder through Treasure Gain Sdn Bhd. Dato’ Sri Chia Hooi Huak is Teo Chee Han's father-in-law. Teo became a Non-Independent Non-Executive Director on 1 March 2025. The 2025 report names Siang Hai Yong and Kee Wan Chum as the two Executive Directors leading the group.Teo Chee Han 是 Darmanto 的儿子;Darmanto 通过 Treasure Gain Sdn Bhd 为公司主要股东。Dato’ Sri Chia Hooi Huak 是 Teo Chee Han 的岳父。Teo 于 2025 年 3 月 1 日转任非独立非执行董事。2025 年报列明,领导集团的两名执行董事为 Siang Hai Yong 和 Kee Wan Chum。

Source: annual report 2024, page 68; annual report 2025, pages 9, 11, 46.出处:2024 年年报第 68 页;2025 年年报第 9、11、46 页。

Ng Lai Hock became Independent Non-Executive Chairman on 12 June 2025, when Law Chee Kheong retired. Go Sin Sin resigned as an Independent Non-Executive Director on 28 February 2026. Crowe submitted its auditor resignation notice on 2 September 2025; UHY Malaysia PLT signed the 2025 audit report on 29 April 2026.Ng Lai Hock 于 2025 年 6 月 12 日出任独立非执行主席,同日 Law Chee Kheong 退休。Go Sin Sin 于 2026 年 2 月 28 日辞任独立非执行董事。Crowe 于 2025 年 9 月 2 日提交辞任审计师的通知;UHY Malaysia PLT 于 2026 年 4 月 29 日签署 2025 年审计报告。

Source: annual report 2025, pages 19, 48, 54, 85.出处:2025 年年报第 19、48、54、85 页。

Revenue by activity, 20252025 年各项业务营业额

Sales of frozen seafood products: 98.4%Processing services: 1.6%
Sales of frozen seafood products 98.4%冷冻海产销售 98.4%Processing services 1.6%加工服务 1.6%

Source: annual report 2025, page 140.出处:2025 年年报第 140 页。

Major events大事记

2024On 3 May, the restructuring included the acquisition of Ocean Fresh Seafood Products Sdn. Bhd. for RM38.4 million, paid through new shares.5 月 3 日,重组包括以 RM38.4 million 收购 Ocean Fresh Seafood Products Sdn. Bhd.,通过发行新股支付。

Source: annual report 2024, page 99.出处:2024 年年报第 99 页。

2024On 4 July, Ocean Fresh listed on the ACE Market with a public issue of 50,050,000 shares at RM0.28 each.7 月 4 日,Ocean Fresh 在创业板上市,公开发行 50,050,000 股,每股 RM0.28。

Source: annual report 2024, page 99.出处:2024 年年报第 99 页。

2025On 1 March, Teo Chee Han changed from Executive Director to Non-Independent Non-Executive Director.3 月 1 日,Teo Chee Han 由执行董事转任非独立非执行董事。

Source: annual report 2024, page 68; annual report 2025, page 46.出处:2024 年年报第 68 页;2025 年年报第 46 页。

2025On 8 April, an interim dividend of RM0.005 per share was paid, totalling RM1.1 million.4 月 8 日,派付每股 RM0.005 的中期股息,总额为 RM1.1 million。

Source: annual report 2025, page 145.出处:2025 年年报第 145 页。

2025On 12 June, Ng Lai Hock became Independent Non-Executive Chairman and Law Chee Kheong retired.6 月 12 日,Ng Lai Hock 出任独立非执行主席,Law Chee Kheong 退休。

Source: annual report 2025, page 48.出处:2025 年年报第 48 页。

2025On 2 September, the company received Crowe's written notice of resignation as auditor.9 月 2 日,公司收到 Crowe 辞任审计师的书面通知。

Source: annual report 2025, page 54.出处:2025 年年报第 54 页。

2025In October, Kuantan City Council gave conditional approval for the cold storage building plan.10 月,Kuantan City Council 有条件批准冷库建筑图则。

Source: annual report 2025, page 24.出处:2025 年年报第 24 页。

2025On 5 November, Lianli Huat Seafood Products Sdn. Bhd. incorporated Ocean Food Sdn. Bhd. for manufacturing and distributing retort seafood pouches.11 月 5 日,Lianli Huat Seafood Products Sdn. Bhd. 注册成立 Ocean Food Sdn. Bhd.,从事高温杀菌海产软袋食品的制造与分销。

Source: annual report 2025, page 24.出处:2025 年年报第 24 页。

2026On 28 February, Go Sin Sin resigned as an Independent Non-Executive Director.2 月 28 日,Go Sin Sin 辞任独立非执行董事。

Source: annual report 2025, page 19.出处:2025 年年报第 19 页。

2026On 13 April, Ocean Fresh Seafood Products Sdn. Bhd. received additional tax assessment notices for assessment years 2021 to 2024.4 月 13 日,Ocean Fresh Seafood Products Sdn. Bhd. 收到涉及 2021 至 2024 课税年度的追加税务评估通知。

Source: annual report 2025, page 25.出处:2025 年年报第 25 页。

Revenue, profit and operating cash营业额、盈利与营运现金

Revenue营业额
2023
RM159.5m1.59亿令吉
2024
RM163.7m1.64亿令吉
2025
RM157.1m1.57亿令吉
Profit after taxation税后盈利
2023
RM6.95m695万令吉
2024
RM1.92m192万令吉
2025
RM0.94m94万令吉
Net cash from operating activities营运活动所得现金净额
2023
–
2024
RM3.74m374万令吉
2025
RM1.99m199万令吉

Assets and equity资产与权益

Total assets总资产
2023
RM63.1m6.31千万令吉
2024
RM80.2m8.02千万令吉
2025
RM70.9m7.09千万令吉
Total equity总权益
2023
RM45.4m4.54千万令吉
2024
RM60.2m6.02千万令吉
2025
RM60.1m6.01千万令吉

20242024 年

Operations brought in RM3.7 million. Property, plant and equipment purchases used RM981,893. The public share issue raised RM14.0 million before share issuance expenses, with net proceeds of RM12.9 million. Borrowing drawdowns were RM8.0 million and principal repayments were RM9.2 million. Hire purchase principal repayments were RM332,786 and lease principal repayments RM100,210.营运活动带来 RM3.7 million。购置物业、厂房与设备支出 RM981,893。公开发行股份在扣除股份发行费用前筹得 RM14.0 million,净筹款为 RM12.9 million。提取借款 RM8.0 million,偿还本金 RM9.2 million。租购本金还款为 RM332,786,租赁本金还款为 RM100,210。

Source: annual report 2024, pages 112, 116, 148; annual report 2025, page 93.出处:2024 年年报第 112、116、148 页;2025 年年报第 93 页。

20252025 年

Operations brought in RM2.0 million. Purchases of property, plant and equipment used RM669,654 and purchases of right-of-use assets used RM412,900. Dividends paid were RM1.1 million. Net repayment of bankers' acceptances was RM141,590 and lease principal payments were RM662,500. Financing activities used a net RM1.9 million.营运活动带来 RM2.0 million。购置物业、厂房与设备支出 RM669,654,购置使用权资产支出 RM412,900。已付股息为 RM1.1 million。银行承兑汇票净还款为 RM141,590,租赁本金付款为 RM662,500。融资活动净支出 RM1.9 million。

Source: annual report 2025, pages 93, 94.出处:2025 年年报第 93、94 页。

Across the years跨年合看

Revenue was RM159.5 million in 2023, RM163.7 million in 2024 and RM157.1 million in 2025. Profit after taxation fell from RM6.9 million to RM1.9 million and then RM937,424. The listing restructuring included the acquisition of Ocean Fresh Seafood Products Sdn. Bhd. for RM38.4 million, paid through 160,095,999 new shares at RM0.24 each. Money market funds stood at RM11.0 million in 2024 and RM9.0 million in 2025.营业额在 2023 年为 RM159.5 million,2024 年为 RM163.7 million,2025 年为 RM157.1 million。税后盈利由 RM6.9 million 降至 RM1.9 million,再降至 RM937,424。上市重组包括以 RM38.4 million 收购 Ocean Fresh Seafood Products Sdn. Bhd.,通过发行 160,095,999 股每股 RM0.24 的新股支付。货币市场基金在 2024 年为 RM11.0 million,2025 年为 RM9.0 million。

Source: annual report 2024, page 127; annual report 2025, page 131.出处:2024 年年报第 127 页;2025 年年报第 131 页。

Still to be spent尚待支出

The 2025 IPO utilisation table lists RM8.0 million allocated to the cold storage facility, RM252,000 used and RM7.7 million unused, with a timeframe of 24 months. Working capital and listing expense allocations were fully used. Approved and contracted capital commitments included RM1.7 million for construction, RM130,000 for plant and machinery and RM269,500 for a building. The report expected earthwork for the cold storage facility to start in May 2026.2025 年首次公开募股款项使用表列明,冷库设施获分配 RM8.0 million,已使用 RM252,000,尚未使用 RM7.7 million,使用期限为 24 个月。营运资金与上市费用的拨款已全部使用。已批准并签约的资本承诺包括建筑工程 RM1.7 million、厂房与机械 RM130,000,以及一栋建筑物 RM269,500。年报预计冷库设施的土方工程于 2026 年 5 月开始。

Source: annual report 2025, pages 27, 65, 150.出处:2025 年年报第 27、65、150 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202320242025
RM令吉RM令吉RM令吉
Revenue营业额159,454,291163,714,957157,076,076
Profit before taxation税前盈利–2,297,7751,898,146
Profit after taxation税后盈利6,948,9191,919,497937,424
Net cash from operating activities营运活动所得现金净额–3,742,6651,986,095
Purchase of property, plant and equipment购置物业、厂房与设备(966,653)(981,893)(669,654)
Dividend paid to owners已付股东股息–0(1,050,730)
Total assets总资产63,056,09780,240,58070,888,981
Bankers' acceptances银行承兑汇票3,121,3291,906,6091,765,019
Cash and bank balances现金与银行结余6,673,2958,378,9089,399,639
Short-term investments短期投资011,000,0009,039,771
Total equity总权益45,363,82460,172,30960,059,003

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 2024 report planned a cold storage facility in Kuantan with six cold rooms and capacity of 3,000 tonnes.2024 年报计划在 Kuantan 建设冷库设施,设六间冷房,容量为 3,000 吨。The 2025 report records conditional building plan approval in October 2025 and an appointed earthwork contractor. It says earthwork will start in May 2026.2025 年报记录,建筑图则于 2025 年 10 月获有条件批准,土方工程承包商已获委任。年报表示土方工程将于 2026 年 5 月开始。

Source: annual report 2024, page 41; annual report 2025, page 24.出处:2024 年年报第 41 页;2025 年年报第 24 页。

Awaiting earthwork等待土方工程开始
The 2024 report planned commercial dried seafood operations by the first quarter of 2025, pending regulatory approvals and certifications.2024 年报计划在取得监管批准与认证后,于 2025 年第一季度开展干海产商业营运。The 2025 report says dried seafood operations were deferred after the group assessed market uncertainty and instability.2025 年报表示,集团评估市场的不确定性与不稳定情况后,推迟开展干海产业务。

Source: annual report 2024, page 45; annual report 2025, page 25.出处:2024 年年报第 45 页;2025 年年报第 25 页。

Deferred beyond the stated quarter已推迟,未在原定季度开展
The 2024 report said the group was working with importers and distributors to expand its China seafood business using its GACC certification.2024 年报表示,集团正借助 GACC 认证,与进口商和分销商合作扩大中国海产业务。The 2025 report says appointment of a dedicated China wholesaler was deferred because of volatility and instability in China's frozen seafood market.2025 年报表示,由于中国冷冻海产市场波动和不稳定,委任专门的中国批发商一事已推迟。

Source: annual report 2024, page 44; annual report 2025, page 24.出处:2024 年年报第 44 页;2025 年年报第 24 页。

Wholesaler appointment deferred批发商委任已推迟
The 2024 report recorded an interim dividend declared on 5 March 2025 at 0.50 sen per share, payable on 8 April 2025.2024 年报记录,公司于 2025 年 3 月 5 日宣布每股 0.50 仙的中期股息,定于 2025 年 4 月 8 日支付。The 2025 report records payment on 8 April 2025 at RM0.005 per share, totalling RM1.1 million.2025 年报记录,股息已于 2025 年 4 月 8 日支付,每股 RM0.005,总额为 RM1.1 million。

Source: annual report 2024, page 93; annual report 2025, page 145.出处:2024 年年报第 93 页;2025 年年报第 145 页。

Paid on the stated date已于所述日期支付
The 2024 report said the group was developing structured employee training and a corruption risk assessment framework.2024 年报表示,集团正在制定有系统的员工培训与贪污风险评估框架。The 2025 report still identifies gaps and commits to an anti-corruption awareness programme for all employee categories and a formal corruption risk assessment in future reporting cycles.2025 年报仍指出存在缺口,并承诺在未来报告周期为各类员工实施反贪意识计划及正式的贪污风险评估。

Source: annual report 2024, page 54; annual report 2025, page 37.出处:2024 年年报第 54 页;2025 年年报第 37 页。

Still to be implemented仍待实施
The 2024 report said a new Chairman was being sought and the incumbent's tenure would end at the annual general meeting on 12 June 2025.2024 年报表示,正在物色新主席,现任主席的任期将于 2025 年 6 月 12 日股东周年大会结束时届满。Ng Lai Hock became Independent Non-Executive Chairman on 12 June 2025, succeeding Law Chee Kheong, who retired.Ng Lai Hock 于 2025 年 6 月 12 日出任独立非执行主席,接替退休的 Law Chee Kheong。

Source: annual report 2024, page 42; annual report 2025, pages 18, 48.出处:2024 年年报第 42 页;2025 年年报第 18、48 页。

Successor appointed已委任接任者

What the reports leave open年报留下待看的事

  • The additional tax assessments received on 13 April 2026 were RM742,546.91, RM567,128.11, RM2,073,042.90 and RM793,421.34 for assessment years 2021 to 2024 respectively. The group appointed a legal advisor. UHY qualified its 2025 audit opinion over the non-recognition of additional tax liabilities and said a liability should be recognised.2026 年 4 月 13 日收到的追加税务评估,分别涉及 2021 至 2024 课税年度,金额依次为 RM742,546.91、RM567,128.11、RM2,073,042.90 和 RM793,421.34。集团已委任法律顾问。UHY 就未确认追加税务负债对 2025 年财务报表发表保留意见,并表示应确认相关负债。

    Source: annual report 2025, pages 25, 79, 80, 85.出处:2025 年年报第 25、79、80、85 页。

  • The cold storage facility remains unfinished in the 2025 report. Earthwork was scheduled for May 2026, and the IPO utilisation table lists RM7.7 million still unused for the facility.2025 年报显示冷库设施尚未完成。土方工程定于 2026 年 5 月开始,首次公开募股款项使用表列明,该设施仍有 RM7.7 million 未使用。

    Source: annual report 2025, pages 19, 27, 65.出处:2025 年年报第 19、27、65 页。

  • Ocean Food's retort seafood pouch operations were expected to begin progressively in 2026. Dried seafood operations remained deferred, with the group to reassess the timing of entry.Ocean Food 的高温杀菌海产软袋食品业务预计于 2026 年逐步开展。干海产业务仍然推迟,集团将重新评估进入市场的时间。

    Source: annual report 2025, pages 24, 25, 27.出处:2025 年年报第 24、25、27 页。

  • At the end of 2025, gross trade receivables of RM7.1 million were past due but not individually impaired. Trade receivable recovery remained a matter examined in the group audit.2025 年底,逾期但未作个别减值的贸易应收款总额为 RM7.1 million。贸易应收款的收回情况仍是集团审计所检查的事项。

    Source: annual report 2025, pages 81, 129.出处:2025 年年报第 81、129 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。