DailySpaceCarlo Rino Group Berhad
0335 · ACE Market创业板（ACE Market） · annual reports 2025 to 2025, 232 entries read2025 至 2025 年报，共读出 232 条
The company这家公司
Carlo Rino Group Berhad is involved in fashion retail operations under the CARLO RINO brand, as well as property development, property investment, investment holdings of securities, and provision of management services. At the end of the financial year, the group operated 41 standalone boutiques and 83 departmental store counters across the nation.Carlo Rino Group Berhad 以 CARLO RINO 品牌经营时尚零售核心业务，同时涉足房地产开发、房地产投资、证券投资控股以及提供管理服务。截至财政年末，该集团在全国经营 41 间独立精品专卖店及 83 个百货专柜。
Sources (3)出处（3）
In financial year 2025 (“FY2025”), as part of our ongoing brand initiatives, CARLO RINO collaborated with Warner Bros. to incorporate some of its iconic characters into our product offerings, bringing pop culture to life through fashion.
In addition to our core fashion retail operations, the Group also involved in property development and property investment, investment holdings of securities, and provision of management services.
As of the end of the financial year under review, the Group operated a total of 41 standalone boutiques, including mall and premium outlet boutiques and 83 departmental store counters across the nation.
In financial year 2025, boutiques accounted for 51.0% of total revenue, departmental store counters contributed 30.9%, and e-commerce contributed 18.1%. Group business activities are predominantly located in Malaysia, and no customer contributed more than 10% of total revenue.在 2025 财政年，精品专卖店占总营业额的 51.0%，百货专柜占 30.9%，电子商务占 18.1%。集团业务主要位于马来西亚，且没有单一客户贡献超过总营业额的 10%。
Sources (5)出处（5）
Boutiques remain the largest contributor, accounting for 51.0% of total revenue in FY2025, slightly down from 53.4% in FY2024.
Departmental store counters recorded a slight decline in contribution, from 33.6% in FY2024 to 30.9% in FY2025.
Conversely, e-commerce demonstrated positive momentum, increasing its revenue contribution from 12.9% in FY2024 to 18.1% in FY2025.
The business activities of the Group are predominantly located in Malaysia and as such no additional disclosure is made on segment reporting by geographical location.
There were no major customers who contributed more than ten percent (10%) of the total revenue of the Group.
The company transferred its listing from the LEAP Market to the ACE Market of Bursa Securities on 18 December 2024. In conjunction with the listing transfer and initial public offering, the company issued 171,865,700 new ordinary shares at an issue price of RM0.27 per ordinary share, raising gross proceeds of RM46.4 million.公司于 2024 年 12 月 18 日将其上市地位由 LEAP 市场转至大马交易所创业板。配合转板上市及首次公开募股，公司以每股 RM0.27 的发行价发行了 171,865,700 股新普通股，募集总额 RM46.4 million 的资金。
Sources (4)出处（4）
This financial year was distinguished by our successful listing transfer from the LEAP Market to the ACE Market of Bursa Malaysia Securities Berhad on 18 December 2024.
In conjunction with the IPO on 18 December 2024, the Group raised gross proceeds of RM46.4 million.
On 18 December 2024, the Company undertook a public issue of 171,865,700 new ordinary shares in conjunction with the Initial Public Offering (“IPO”) of the Company at an issue price of RM0.27 per ordinary share.
The listing and quotation for the entire issued share capital of the Company of 977,517,100 shares was transferred from the LEAP Market of Bursa Securities to the ACE Market of Bursa Securities on 18 December 2024.
Four shareholders hold 5% or more of issued shares, totaling 65.22%. Dato' Sri Chiang Fong Yee holds 271,571,848 shares (27.78%), Bonia Holdings Sdn. Bhd. holds 202,875,868 shares (20.75%), Freeway Team Sdn. Bhd. holds 111,041,200 shares (11.36%), and Chiang Sang Sem holds 54,029,700 shares (5.53%) directly with a deemed interest of 358,361,904 shares (36.66%) through Bonia Holdings Sdn. Bhd., Freeway Team Sdn. Bhd., Kontrak Kosmomaz Sdn. Bhd., and Able Wealth Assets Ltd.四名股东持有 5% 或以上股份，合计占 65.22%。Dato' Sri Chiang Fong Yee 持有 271,571,848 股（27.78%），Bonia Holdings Sdn. Bhd. 持有 202,875,868 股（20.75%），Freeway Team Sdn. Bhd. 持有 111,041,200 股（11.36%），Chiang Sang Sem 直接持有 54,029,700 股（5.53%），并通过 Bonia Holdings Sdn. Bhd.、Freeway Team Sdn. Bhd.、Kontrak Kosmomaz Sdn. Bhd. 及 Able Wealth Assets Ltd 视同持有 358,361,904 股（36.66%）。
Sources (6)出处（6）
5% and above of issued shares 4 0 637,517,816 0 65.22 0.00
Dato’ Sri Chiang Fong Yee 271,571,848 27.78 ~ ~
Bonia Holdings Sdn. Bhd. 202,875,868 20.75 ~ ~
Freeway Team Sdn. Bhd. 111,041,200 11.36 ~ ~
Chiang Sang Sem 54,029,700 5.53 358,361,904 (1) 36.66
(1) Deemed interest by virtue of his interests in Bonia Holdings Sdn. Bhd., Freeway Team Sdn. Bhd., Kontrak Kosmomaz Sdn. Bhd., and Able Wealth Assets Ltd pursuant to Section 8 of the Companies Act 2016
Dato' Sri Chiang Fong Yee is the eldest son of substantial shareholder Chiang Sang Sem. On 1 January 2025, an Executive Director was appointed and a director resigned. The group paid fees of RM165,560 under a licensing agreement for trademark rights to Bonia International Holdings Pte. Ltd., a company in which a substantial shareholder has substantial financial interests.Dato' Sri Chiang Fong Yee 是主要股东 Chiang Sang Sem 的长子。2025 年 1 月 1 日，一名执行董事获委任，且一名董事辞职。集团根据商标权许可协议向 Bonia International Holdings Pte. Ltd. 支付了 RM165,560 的费用，该关联公司由公司主要股东拥有重大财务利益。
Sources (5)出处（5）
1. Dato’ Sri Chiang Fong Yee is the eldest son of Chiang Sang Sem (a Substantial Shareholder of the Company).
(1) Appointed as an Executive Director with effect from 01 January 2025
(2) Resigned on 1 January 2025
Bonia International Holdings A company in which a substantial shareholder of the Company, has Pte. Ltd. substantial financial interests.
- Bonia International Holdings Pte. Ltd. 165,560 174,658 - -
Revenue by distribution channel, 20252025 年各销售渠道营业额占比
Sources (3)出处（3）
Boutiques remain the largest contributor, accounting for 51.0% of total revenue in FY2025, slightly down from 53.4% in FY2024.
Departmental store counters recorded a slight decline in contribution, from 33.6% in FY2024 to 30.9% in FY2025.
Conversely, e-commerce demonstrated positive momentum, increasing its revenue contribution from 12.9% in FY2024 to 18.1% in FY2025.
Major events大事记
Sources (1)出处（1）
(i) On 14 August 2023, the relevant Vietnamese regulatory authority confirmed that the voluntary dissolution of CRR Vietnam Co., Ltd. (“CRR”) had been completed.
Sources (1)出处（1）
(ii) On 10 January 2024, PT CRI Mitra Sejati (“PTCMS”) received final approval letter from Ministry of Law and Human Rights, confirmed the process of its member’s voluntary winding-up had been completed.
Sources (2)出处（2）
On 18 December 2024, the Company undertook a public issue of 171,865,700 new ordinary shares in conjunction with the Initial Public Offering (“IPO”) of the Company at an issue price of RM0.27 per ordinary share.
The listing and quotation for the entire issued share capital of the Company of 977,517,100 shares was transferred from the LEAP Market of Bursa Securities to the ACE Market of Bursa Securities on 18 December 2024.
Sources (2)出处（2）
(1) Appointed as an Executive Director with effect from 01 January 2025
(2) Resigned on 1 January 2025
Sources (1)出处（1）
(k) On 31 March 2025, the Company subscribed for an additional 15,000,000 ordinary shares in the share capital of Imbi Strada Sdn.Bhd. (“ISSB”) at an issue price of RM1.00 per share by way of cash subscription.
Sources (1)出处（1）
On 25 August 2025, the Board of Directors declared a single tier interim dividend of 0.50 sen per ordinary share amounted to approximately RM4,887,586 in respect of the financial year ending 30 June 2026, that was paid on 25 September 2025
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
Cash and short term funds现金与短期基金
20252025 年
In financial year 2025, operating activities generated net cash of RM17,509,869. The company raised RM46,403,739 from the issuance of ordinary shares in its initial public offering, while share issuance expenses used RM962,207. Net placement of short-term funds took RM27,490,441. RM4,222,856 was paid for property, plant and equipment, and the report says a property acquisition in Melaka amounting to RM2.6 million was completed. Financing cash flows included RM8,428,871 paid for lease liabilities, RM2,074,116 of term loan repayments against RM890,369 drawn down, and dividends paid of RM8,915,843. A fair value loss of RM4,766,580 was recognized in other comprehensive income on other investment in Carzo Holding Berhad, which ceased principal activities.2025 财政年，营运活动产生现金净额 RM17,509,869。公司通过首次公开募股发行普通股募集 RM46,403,739，股票发行费用支出 RM962,207。短期基金净存放支出 RM27,490,441。购买物业、厂房及设备支付 RM4,222,856，年报称已完成收购位于马六甲、金额 RM2.6 million 的一处房产。融资现金流包括偿还租赁负债 RM8,428,871、偿还定期贷款 RM2,074,116 与提取定期贷款 RM890,369，以及支付股息 RM8,915,843。此外，集团在其他全面收益中对 Carzo Holding Berhad 的其他投资确认了 RM4,766,580 的公允价值亏损，该公司已停止主要业务活动。
Sources (12)出处（12）
In addition to the increase in liquid assets, the Group also recorded an increase in property, plant and equipment, following the completion of property acquisition located in Melaka amounting to RM2.6 million.
Fair value adjustment on other investment 26 (4,766,580) - - -
Placements of short term funds (27,490,441) (6,108,391) (15,538,883) -
Purchase of property, plant and equipment 5(c) (4,222,856) (3,640,978) (67,450) (3,600)
Dividends paid 28 (8,915,843) (8,056,514) (8,915,843) (8,056,514)
Payments of lease liabilities 6(g) (8,428,871) (7,377,015) - -
Proceeds from issuance of ordinary shares 16 46,403,739 - 46,403,739 -
Shares issuance expenses 16 (962,207) - (962,207)
Drawdown of term loans 18(d) 890,369 76,395,266 - -
Repayments of term loans 18(d) (2,074,116) (64,166,428) (1,182,372) (1,182,172)
• Carzo’s inability to generate future cash flows following its announcement to cease principal activities in November 2024;
A total fair value loss of RM4,766,580 was recognised in other comprehensive income.
At year end年末状况
At 30 June 2025, cash and bank balances stood at RM61,633,027 and short term funds stood at RM36,608,696. Total borrowings were RM6,315,715, and total lease liabilities were RM21,894,952. Gearing was 0.04 times. The group maintains a dividend policy to distribute not less than 30% of consolidated profit after taxation attributable to shareholders. On 25 August 2025, the company declared a first interim dividend of RM0.005 per share amounting to approximately RM4.89 million for financial year 2026, paid on 25 September 2025.截至 2025 年 6 月 30 日，现金及银行结余为 RM61,633,027，短期基金为 RM36,608,696。借款总额为 RM6,315,715；租赁负债合计 RM21,894,952。负债比率为 0.04 倍。集团维持分派不少于归属于股东综合税后利润 30% 的股息政策。2025 年 8 月 25 日，公司为 2026 财政年宣布派发每股 RM0.005 的第一次中期股息，总额约为 RM4.89 million，已于 2025 年 9 月 25 日支付。
Sources (8)出处（8）
In our commitment to delivering sustainable shareholder value, CRG has adopted a dividend policy to distribute not less than 30% of our consolidated profit after taxation attributable to shareholders for each financial year.
On 25 August 2025, CRG also declared the first interim single tier dividend of RM0.005 per ordinary share amounted to approximately RM4.89 million for the FY2026, which was paid on 25 September 2025.
- Lease liabilities owing to non-financial institutions 7,212,993 5,905,339 21,894,952 21,825,317
Deposits with a licensed bank 43,096,916 8,035,000 15,718,916 1,800,000 61,633,027 46,963,262 24,555,953 10,323,439
Short term funds 36,608,696 9,090,851 15,536,644 -
Total borrowings 19 6,315,715 7,495,554 6,238,220 7,420,592
On 25 August 2025, the Board of Directors declared a single tier interim dividend of 0.50 sen per ordinary share amounted to approximately RM4,887,586 in respect of the financial year ending 30 June 2026, that was paid on 25 September 2025
Gearing (times) (1) 0.04 0.07 0.04 0.08
Still to be spent尚未支出的承诺
Out of RM46.4 million raised from the initial public offering, RM27.8 million remained unutilised, including RM14.9 million for the construction and fitting out of a flagship boutique and facilities, RM3.1 million for refurbishment of boutiques and counters, and RM9.5 million for working capital, while excess listing expenses of RM0.5 million were reallocated to working capital. Capital commitments approved and contracted for were RM1,130,813.在首次公开募股筹集的 RM46.4 million 中，尚有 RM27.8 million 未使用，其中包括用于建设及装修旗舰专卖店及设施的 RM14.9 million、用于翻新精品店及专柜的 RM3.1 million 以及用于营运资金的 RM9.5 million，另有多余上市费用 RM0.5 million 重新调配至营运资金。已批准并签约的资本承诺为 RM1,130,813。
Sources (7)出处（7）
In conjunction with the IPO on 18 December 2024, the Group raised gross proceeds of RM46.4 million.
Construction and the fitting out of a flagship boutique and other facilities (e.g. IT and security system) 15,000 (82) - 14,918 Within 36 months
Refurbishment of boutiques and counters at departmental stores 3,500 (384) - 3,116 Within 36 months
Working capital 23,204 (14,121) 452 9,535 Within 24 months
Total 46,404 (18,647) - 27,757
As such, the excess proceeds amounting to RM0.5 million were reallocated to the Group’s working capital requirements, in accordance with the flexibility provided under the utilisation plan disclosed in the IPO prospectus.
Approved and contracted for 1,130,813 820,770
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 | 2024 | 2025 |
|---|---|---|
| RM令吉 | RM令吉 | |
| Revenue营业额 | 104,844,799 | 98,868,707 |
| Profit before tax税前盈利 | 26,269,982 | 21,180,539 |
| Profit for the financial year净利润 | 19,304,978 | 15,666,236 |
| Net cash from operating activities营运活动所得现金净额 | 22,355,560 | 17,509,869 |
| Purchase of property, plant and equipment购买物业、厂房及设备 | 3,956,818 | 4,248,333 |
| Total assets总资产 | 150,098,244 | 194,387,668 |
| Total liabilities总负债 | 38,420,490 | 35,284,569 |
| Total equity总权益 | 111,677,754 | 159,103,099 |
| Total borrowings借款总额 | 7,495,554 | 6,315,715 |
| Cash and bank balances现金及银行结余 | 46,963,262 | 61,633,027 |
| Short term funds短期基金 | 9,090,851 | 36,608,696 |
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
Only one annual report has been read so far, so there is no later report to check its plans against.目前只读了一份年报，还没有之后的年报可以对照它的计划。
What the reports leave open年报留下待看的事
- Execution of the Jalan Imbi flagship boutique in Kuala Lumpur, which has an estimated capital outlay of approximately RM15.0 million funded from IPO proceeds and is expected to commence in FY2026 and complete in FY2027.吉隆坡燕美路（Jalan Imbi）旗舰精品店的建设进展，该项目预计资本支出约为 RM15.0 million，由 IPO 募集资金提供支持，预计于 2026 财政年动工并于 2027 财政年完工。
Sources (3)出处（3）
As part of this strategy, the Group is investing in the construction of a flagship boutique in Jalan Imbi, Kuala Lumpur, which will serve not only as a flagship point of sale but also as a branding showcase and experiential store.
With an estimated capital outlay of approximately RM15.0 million, funded from IPO proceeds, the project is expected to commence in FY2026 and completed in FY2027.
Construction and the fitting out of a flagship boutique and other facilities (e.g. IT and security system) 15,000 (82) - 14,918 Within 36 months
- Utilisation of the remaining RM27.8 million of IPO proceeds, including RM3.1 million for refurbishment of boutiques and counters and RM9.5 million for working capital within their respective timeframes.剩余 RM27.8 million IPO 募集资金的使用情况，包括在各自期限内用于翻新精品店及专柜的 RM3.1 million 和用于营运资金的 RM9.5 million。
Sources (3)出处（3）
Refurbishment of boutiques and counters at departmental stores 3,500 (384) - 3,116 Within 36 months
Working capital 23,204 (14,121) 452 9,535 Within 24 months
Total 46,404 (18,647) - 27,757
- Impairments on retail assets, after the group recognised impairment losses of RM498,834 on property, plant and equipment and RM1,025,037 on right-of-use assets in 2025, with right-of-use assets of RM11,001,204 indicating impairment at year end.零售资产的减值情况：集团在 2025 年对物业、厂房及设备确认了 RM498,834 的减值亏损，对使用权资产确认了 RM1,025,037 的减值亏损，且年末有减值迹象的使用权资产账面值为 RM11,001,204。
Sources (3)出处（3）
Operating expenses also included impairment charges on ROU assets and property, plant and equipment, amounting to RM1.5 million.
The Group had recognised impairment losses on property, plant and equipment and right-of-use assets of RM498,834 and RM1,025,037 respectively during the financial year ended 30 June 2025.
The carrying amounts of right-of-use assets in certain subsidiaries which have indication of impairment amounted to RM11,001,204 (2024: RM7,510,588).
- Evaluation of regional expansion into neighbouring ASEAN countries, while current business activities remain predominantly located in Malaysia.向邻近东盟国家进行区域扩张的评估进展，而集团当前业务活动仍主要位于马来西亚。
Sources (2)出处（2）
The Group is evaluating opportunities for measured regional expansion, particularly in neighbouring ASEAN countries.
The business activities of the Group are predominantly located in Malaysia and as such no additional disclosure is made on segment reporting by geographical location.
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-17.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 2026-10-17。