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

VETECE Holdings Berhad

0319 · ACE Market创业板(ACE Market) · annual reports 2024 to 2025, 570 entries read2024 至 2025 年报,共读出 570 条

Revenue, 20252025 年营业额RM46.3m4.63千万令吉up 138.1% from比 2024 年增加 138.1%,当年为 RM19.4m1.94千万令吉 in 2024
Profit for the financial year, 20252025 年本财政年度盈利RM4.22m422万令吉up 300.6% from比 2024 年增加 300.6%,当年为 RM1.05m105万令吉 in 2024
Net cash from operating activities, 20252025 年营运活动所得现金净额RM1.56m156万令吉down 73.5% from比 2024 年减少 73.5%,当年为 RM5.89m589万令吉 in 2024
Cash and cash equivalents, 20252025 年现金与现金等价物RM28.4m2.84千万令吉down 8.6% from比 2024 年减少 8.6%,当年为 RM31.0m3.10千万令吉 in 2024

The company这家公司

VETECE provides enterprise IT solutions through implementation services, maintenance, support and professional services, and the resale of hardware and software. The 2024 report lists clients in telecommunications, financial services, higher education and technology.VETECE 提供企业 IT 解决方案,业务包括实施服务、维护、支持与专业服务,以及硬件和软件转售。2024 年报列出的客户行业包括电信、金融服务、高等教育和科技。

Source: annual report 2024, pages 9, 10, 57; annual report 2025, page 119.出处:2024 年年报第 9、10、57 页;2025 年年报第 119 页。

In 2025, hardware and software resale brought in RM30.9 million, or 66.67% of revenue. Implementation services contributed RM8.0 million, or 17.26%, and maintenance, support and professional services RM7.4 million, or 16.07%.2025 年,硬件和软件转售带来 RM30.9 million,占营业额 66.67%。实施服务贡献 RM8.0 million,占 17.26%;维护、支持与专业服务贡献 RM7.4 million,占 16.07%。

Source: annual report 2025, pages 17, 115.出处:2025 年年报第 17、115 页。

Malaysia generated RM44.2 million of revenue in 2025, Singapore RM2.0 million and Hong Kong RM166,640. Two customers accounted for RM33.2 million of group revenue.2025 年,马来西亚带来 RM44.2 million 营业额,新加坡为 RM2.0 million,香港为 RM166,640。两名客户合共贡献集团营业额 RM33.2 million。

Source: annual report 2025, pages 116, 117.出处:2025 年年报第 116、117 页。

The shareholding lists show Tee Chee Chiang holding 240,380,624 shares, or 61.32%, in the 2024 report and 253,003,524 shares, or 64.542%, in the 2025 report. He is Non-Independent Executive Vice Chairman, while Chan Wai Hoong is Non-Independent Executive Director/CEO. The 2024 report dates both redesignations to January 2024.股权名单显示,Tee Chee Chiang 在 2024 年报持有 240,380,624 股,占 61.32%;在 2025 年报持有 253,003,524 股,占 64.542%。他担任非独立执行副主席,Chan Wai Hoong 担任非独立执行董事兼首席执行官。2024 年报记载,两人的职务调整均在 2024 年 1 月进行。

Source: annual report 2024, pages 26, 27, 120; annual report 2025, pages 65, 127.出处:2024 年年报第 26、27、120 页;2025 年年报第 65、127 页。

The 2025 holder list includes Apex Nominees (Tempatan) Sdn. Bhd., Pledged Securities Account for Seik Yee Kok, with 1,916,900 shares (0.489%); Maybank Nominees (Tempatan) Sdn Bhd, Pledged Securities Account for Chiam Kieng Sueng, with 986,300 shares (0.252%); RHB Nominees (Tempatan) Sdn Bhd, Pledged Securities Account for Tan Yat Teng, with 737,600 shares (0.188%); and CGS International Nominees Malaysia (Tempatan) Sdn. Bhd., Pledged Securities Account for Tay Moy Koh (SEGAMAT-CL), with 700,000 shares (0.179%).2025 年股东名单包括 Apex Nominees (Tempatan) Sdn. Bhd. 名下为 Seik Yee Kok 开设的抵押证券账户,持有 1,916,900 股(0.489%);Maybank Nominees (Tempatan) Sdn Bhd 名下为 Chiam Kieng Sueng 开设的抵押证券账户,持有 986,300 股(0.252%);RHB Nominees (Tempatan) Sdn Bhd 名下为 Tan Yat Teng 开设的抵押证券账户,持有 737,600 股(0.188%);以及 CGS International Nominees Malaysia (Tempatan) Sdn. Bhd. 名下为 Tay Moy Koh (SEGAMAT-CL) 开设的抵押证券账户,持有 700,000 股(0.179%)。

Source: annual report 2025, pages 127, 128.出处:2025 年年报第 127、128 页。

The 2025 report records delivery of the group's first agentic AI solution to a public sector client and its first Oracle HCM Cloud maintenance and support contract in Hong Kong. It also records entry into the utilities sector as principal contractor for Oracle ERP and Oracle Cloud Infrastructure solutions for two utilities companies in Malaysia.2025 年报记载,集团向一名公共部门客户交付了首个智能体 AI 解决方案,并取得首份香港 Oracle HCM Cloud 维护与支持合约。年报也记载,集团进入公用事业领域,担任两家马来西亚公用事业公司的 Oracle ERP 与 Oracle Cloud Infrastructure 解决方案总承包商。

Source: annual report 2025, page 12.出处:2025 年年报第 12 页。

Revenue by segment, 2025 (RM)2025 年各业务营业额(令吉)

Implementation services: 17.3%Maintenance, support and professional services: 16.1%Resale of hardware and software: 66.7%
Implementation services 17.3%实施服务 17.3%Maintenance, support and professional services 16.1%维护、支持与专业服务 16.1%Resale of hardware and software 66.7%硬件和软件转售 66.7%

Source: annual report 2025, page 115.出处:2025 年年报第 115 页。

Major events大事记

2023Incorporated as VETECE Holdings Sdn. Bhd. on 22 November; converted to VETECE Holdings Berhad on 8 December.11 月 22 日以 VETECE Holdings Sdn. Bhd. 注册成立;12 月 8 日转为 VETECE Holdings Berhad。

Source: annual report 2024, page 64.出处:2024 年年报第 64 页。

2024In January, Tee Chee Chiang was redesignated Non-Independent Executive Vice Chairman and Chan Wai Hoong Non-Independent Executive Director and CEO.1 月,Tee Chee Chiang 的职务调整为非独立执行副主席,Chan Wai Hoong 调整为非独立执行董事兼首席执行官。

Source: annual report 2024, pages 26, 27, 57.出处:2024 年年报第 26、27、57 页。

2024On 7 February, conditional share sale agreements were signed to acquire VTCM and VTCS.2 月 7 日,签署有条件股份买卖协议,拟收购 VTCM 与 VTCS。

Source: annual report 2024, page 86.出处:2024 年年报第 86 页。

2024On 21 June, the acquisitions were completed and VTCM and VTCS became wholly-owned subsidiaries.6 月 21 日,收购完成,VTCM 与 VTCS 成为全资子公司。

Source: annual report 2025, page 92.出处:2025 年年报第 92 页。

2024Listed on the ACE Market on 28 August; the IPO issued 98,000,000 new shares at RM0.25 each for RM24.5 million.8 月 28 日在创业板上市;首次公开募股以每股 RM0.25 发行 98,000,000 股新股,筹得 RM24.5 million。

Source: annual report 2024, pages 52, 66.出处:2024 年年报第 52、66 页。

2025Delivered the first agentic AI solution to a public sector client and obtained ISO 27001:2022 accreditation.向一名公共部门客户交付首个智能体 AI 解决方案,并取得 ISO 27001:2022 认证。

Source: annual report 2025, page 12.出处:2025 年年报第 12 页。

2025Repaid RM4.0 million of term loans; no term loans remained at year end.偿还 RM4.0 million 定期贷款;年末已无定期贷款余额。

Source: annual report 2025, pages 82, 114.出处:2025 年年报第 82、114 页。

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

Revenue营业额
2023
RM23.1m2.31千万令吉
2024
RM19.4m1.94千万令吉
2025
RM46.3m4.63千万令吉
Profit for the financial year本财政年度盈利
2023
RM6.56m656万令吉
2024
RM1.05m105万令吉
2025
RM4.22m422万令吉
Net cash from operating activities营运活动所得现金净额
2023
–RM12.9m–1.29千万令吉
2024
RM5.89m589万令吉
2025
RM1.56m156万令吉

Assets, cash, borrowings and equity资产、现金、借款与权益

Total assets总资产
2023
RM24.8m2.48千万令吉
2024
RM45.3m4.53千万令吉
2025
RM45.8m4.58千万令吉
Cash and cash equivalents现金与现金等价物
2023
RM4.03m403万令吉
2024
RM31.0m3.10千万令吉
2025
RM28.4m2.84千万令吉
Total borrowings借款总额
2023
RM4.12m412万令吉
2024
RM4.01m401万令吉
2025
RM00 令吉
Total equity权益总额
2023
RM16.4m1.64千万令吉
2024
RM39.9m3.99千万令吉
2025
RM44.0m4.40千万令吉

20242024 年

Operations brought in RM5.9 million, and purchases of property, plant and equipment used RM40,526. The IPO issued 98,000,000 shares at RM0.25 each and raised RM24.5 million. Shares were also issued to acquire Vision Technology Consulting Sdn. Bhd. and Vision Technology Consulting Pte. Ltd.; the acquisitions were completed on 21 June 2024. Term loan repayments were RM115,534 and interest paid was RM176,550. No dividend had been paid or declared since incorporation, and the directors recommended none for the financial year.营运活动带来 RM5.9 million,购置产业、厂房与设备支出为 RM40,526。首次公开募股以每股 RM0.25 发行 98,000,000 股,筹得 RM24.5 million。公司也发行股份收购 Vision Technology Consulting Sdn. Bhd. 和 Vision Technology Consulting Pte. Ltd.;收购于 2024 年 6 月 21 日完成。定期贷款偿还额为 RM115,534,已付利息为 RM176,550。自注册成立以来未支付或宣布股息,董事也未建议就本财政年度派息。

Source: annual report 2024, pages 64, 66, 73; annual report 2025, page 92.出处:2024 年年报第 64、66、73 页;2025 年年报第 92 页。

20252025 年

Operations brought in RM1.6 million. Purchases of property, plant and equipment used RM59,977. The group repaid RM4.0 million of term loans and paid RM143,037 in interest; term loans were nil at year end. Financing activities used a net RM4.2 million, and cash and cash equivalents ended at RM28.4 million. The directors recommended no dividend for the financial year. The chairman's statement separately says an interim dividend was declared for FYE 2026.营运活动带来 RM1.6 million。购置产业、厂房与设备支出为 RM59,977。集团偿还定期贷款 RM4.0 million,并支付利息 RM143,037;年末定期贷款为零。融资活动净支出为 RM4.2 million,年末现金与现金等价物为 RM28.4 million。董事未建议就本财政年度派息。主席报告另行表示,已宣布派发 2026 财政年度的中期股息。

Source: annual report 2025, pages 11, 72, 81, 82, 94, 114.出处:2025 年年报第 11、72、81、82、94、114 页。

Across the years历年合看

Cash and cash equivalents were RM4.0 million in 2023, RM31.0 million in 2024 and RM28.4 million in 2025. Total borrowings were RM4.1 million, RM4.0 million and nil respectively. The 2025 report says RM16.6 million of the RM24.5 million IPO proceeds had been used. The hardware and software licensing allocation and the loan repayment allocation were fully used within their stated timeframes.现金与现金等价物在 2023 年为 RM4.0 million,2024 年为 RM31.0 million,2025 年为 RM28.4 million。借款总额分别为 RM4.1 million、RM4.0 million 和零。2025 年报表示,RM24.5 million 首次公开募股所得款项中已使用 RM16.6 million。硬件和软件许可费用拨款及贷款偿还拨款,均已在列明的期限内全数使用。

Source: annual report 2025, page 13.出处:2025 年年报第 13 页。

Still to be spent尚待支出

The 2025 IPO proceeds table lists RM7.9 million remaining. This includes RM2.9 million for the Centre of Excellence, RM1.6 million for new core products and services, and RM3.0 million for Singapore operations. The stated timeframes are within 36 months for the Centre of Excellence and within 24 months for the other two uses. A note says approximately RM0.37 million of excess listing allocation was used for general working capital.2025 年首次公开募股所得款项表列出尚余 RM7.9 million,其中包括卓越中心的 RM2.9 million、新核心产品与服务的 RM1.6 million,以及新加坡业务的 RM3.0 million。列明的使用期限为卓越中心在 36 个月内,其余两项在 24 个月内。附注表示,上市费用拨款的剩余部分约 RM0.37 million 已用于一般营运资金。

Source: annual report 2025, page 13.出处:2025 年年报第 13 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23,132,89019,444,09346,301,932
Profit before tax税前盈利8,699,8512,235,9875,802,161
Profit for the financial year本财政年度盈利6,563,4361,053,6794,221,187
Net cash from operating activities营运活动所得现金净额(12,876,672)5,889,7781,560,636
Purchase of property, plant and equipment购置产业、厂房与设备(120,384)(40,526)(59,977)
Net cash from financing activities融资活动所得现金净额4,073,66021,256,188(4,152,393)
Total assets总资产24,844,17745,273,20845,751,680
Total borrowings借款总额4,124,8904,009,3560
Cash and cash equivalents现金与现金等价物4,025,70831,041,82428,360,647
Total equity权益总额16,417,88139,879,75043,988,026

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 allocated RM3.8 million to establish a Centre of Excellence for software solutions, to be used within 36 months.2024 年报拨出 RM3.8 million 设立软件解决方案卓越中心,使用期限为 36 个月内。The 2025 report records RM897,000 used and RM2.9 million remaining. It says the Centre of Excellence is being developed.2025 年报记录已使用 RM897,000,尚余 RM2.9 million,并表示卓越中心仍在建设中。

Source: annual report 2024, pages 12, 19; annual report 2025, pages 13, 16.出处:2024 年年报第 12、19 页;2025 年年报第 13、16 页。

Still in progress仍在进行
The 2024 report allocated RM2.2 million to roll out new core products and services within 24 months. It described plans for AI data handling and analytics solutions.2024 年报拨出 RM2.2 million,在 24 个月内推出新核心产品与服务,并说明了 AI 数据处理与分析解决方案的计划。The 2025 report records RM587,000 used and RM1.6 million remaining. It also reports delivery of the first agentic AI solution to a public sector client.2025 年报记录已使用 RM587,000,尚余 RM1.6 million,也报告已向一名公共部门客户交付首个智能体 AI 解决方案。

Source: annual report 2024, pages 12, 19; annual report 2025, pages 12, 13.出处:2024 年年报第 12、19 页;2025 年年报第 12、13 页。

Spending under way拨款使用中
The 2024 report allocated RM3.3 million to strengthen Singapore operations within 24 months, including recruiting key personnel and securing a coworking office.2024 年报拨出 RM3.3 million,在 24 个月内加强新加坡业务,包括招聘主要人员及安排共享办公空间。The 2025 report records RM268,000 used and RM3.0 million remaining. Singapore revenue rose from RM1.3 million to RM2.0 million.2025 年报记录已使用 RM268,000,尚余 RM3.0 million。新加坡营业额由 RM1.3 million 升至 RM2.0 million。

Source: annual report 2024, pages 12, 19; annual report 2025, pages 13, 18.出处:2024 年年报第 12、19 页;2025 年年报第 13、18 页。

Spending under way拨款使用中
The 2024 report allocated RM6.5 million for hardware and software licensing fees, to be used within 24 months.2024 年报拨出 RM6.5 million 支付硬件和软件许可费用,使用期限为 24 个月内。The 2025 report records the full RM6.5 million allocation used and says this was within the stipulated timeframe.2025 年报记录 RM6.5 million 拨款已全数使用,并表示是在规定期限内使用。

Source: annual report 2024, page 12; annual report 2025, page 13.出处:2024 年年报第 12 页;2025 年年报第 13 页。

Fully used within stated timeframe在列明期限内全数使用
The 2024 report allocated RM4.0 million for loan repayments within 6 months.2024 年报拨出 RM4.0 million,在 6 个月内偿还贷款。The 2025 report records the loan repayment allocation fully used within the stipulated timeframe. Term loans were nil at year end.2025 年报记录,贷款偿还拨款已在规定期限内全数使用。年末定期贷款为零。

Source: annual report 2024, page 12; annual report 2025, pages 13, 114.出处:2024 年年报第 12 页;2025 年年报第 13、114 页。

Repaid within stated timeframe在列明期限内偿还

What the reports leave open年报留下待看的事

  • The Centre of Excellence is still being developed. The IPO proceeds table retains unspent allocations for it, new core products and services, and Singapore operations.卓越中心仍在建设中。首次公开募股所得款项表中,卓越中心、新核心产品与服务及新加坡业务均仍有未使用拨款。

    Source: annual report 2025, pages 13, 16.出处:2025 年年报第 13、16 页。

  • At 31 August 2025, RM2.9 million of revenue remained to be recognised as services were performed. The report expected this work over the following year.截至 2025 年 8 月 31 日,尚有 RM2.9 million 营业额须随服务履行而确认。年报预计相关服务会在随后一年内履行。

    Source: annual report 2025, page 99.出处:2025 年年报第 99 页。

  • One major trade receivable represented about 46% of the group's total trade receivables at year end.年末一项主要贸易应收款约占集团贸易应收款总额的 46%。

    Source: annual report 2025, page 107.出处:2025 年年报第 107 页。

  • The report describes VETECE as a Managed Services Provider candidate under the CFA 2.0 programme, scheduled to commence in 2026. It also describes participation in MSP tender processes.年报将 VETECE 列为 CFA 2.0 计划下的托管服务供应商候选者,该计划预定于 2026 年开始。年报也说明集团参与了 MSP 招标程序。

    Source: annual report 2025, pages 10, 15.出处:2025 年年报第 10、15 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。