DailySpaceEmits Berhad
0346 · ACE Market创业板（ACE Market） · annual reports 2025 to 2025, 139 entries read2025 至 2025 年报，共读出 139 条
The company这家公司
The group was listed on the ACE Market of Bursa Securities on 13 March 2025. It holds exclusive rights to market and distribute fittings and flanges products under the THF brand in Southeast Asia markets through a collaboration with Tae Heung Forging Co., Ltd entered into on 4 January 2021. Products are sold mainly to customers in the oil and gas industry, contributing RM448.23 million or 92.22% of revenue in 2025, compared to RM312.11 million or 90.60% in 2024.集团于 2025 年 3 月 13 日在马来西亚证券交易所创业板上市。通过 2021 年 1 月 4 日与 Tae Heung Forging Co., Ltd 达成的合作，集团拥有在东南亚市场以 THF 品牌营销和分销管件及法兰产品的独家权利。产品主要销往石油与天然气行业的客户，该行业在 2025 年贡献了 RM448.23 million 或 92.22% 的营业额，2024 年则为 RM312.11 million 或 90.60%。
Sources (3)出处（3）
On 13 March 2025, our Group was successfully listed on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”)
In connection with our joint collaboration with Tae Heung Forging Co., Ltd (referred to as Tae Heung) on 4 January 2021, our Group holds exclusive rights to market and distribute fittings and flanges products under the “THF” brand in Southeast Asia markets
We sold our products mainly to customers involved in the oil and gas industry, which contributed RM448.23 million or 92.22% of our total revenue for FYE 2025 (FYE 2024: RM312.11 million or 90.60% of our total revenue).
Malaysia was the primary revenue contributor, generating RM414.46 million or 85.27% of total revenue in 2025, compared to RM227.52 million or 66.04% in 2024. Revenue from Indonesia was RM70.19 million in 2025, down by RM44.87 million or 39.00% from RM115.06 million in 2024, mainly due to project completions by Indonesian customers. Among external customers, Customer A accounted for RM244,350,661 (2024: RM133,005,957) and Customer B accounted for RM64,877,907 (2024: RM110,400,010).马来西亚是主要的营业额来源，2025 年贡献 RM414.46 million 或总营业额的 85.27%，2024 年为 RM227.52 million 或 66.04%。印度尼西亚市场的营业额在 2025 年为 RM70.19 million，较 2024 年的 RM115.06 million 减少 RM44.87 million 或 39.00%，主要由于印尼客户的项目完工。在外部客户中，Customer A 占 RM244,350,661（2024 年：RM133,005,957），Customer B 占 RM64,877,907（2024 年：RM110,400,010）。
Sources (4)出处（4）
The Malaysian market continued to be the primary revenue contributor for FYE 2025, which recorded RM414.46 million or 85.27% of our total revenue (FYE 2024: RM227.52 million or 66.04% of our total revenue).
Revenue from the Indonesia markets reduced by RM44.87 million or 39.00% to RM70.19 million for FYE 2025 (FYE 2024: RM115.06 million), mainly due to completion of projects by our Indonesia customers in FYE 2025.
Customer A 244,350,661 133,005,957
Customer B 64,877,907 110,400,010
Maju Alliance Sdn. Bhd. is the holding company and ultimate holding company, holding 266,282,000 shares or 69.54%. In the list of the largest holders, 172,305,000 of these shares (45.00%) stand in its own name, 83,977,000 shares (21.93%) in a pledged securities account with Malacca Equity Nominees (Tempatan) Sdn. Bhd. and 10,000,000 shares (2.61%) in a pledged securities account with AMSEC Nominees (Tempatan) Sdn. Bhd. Liaw Choon Wei holds 7,628,400 shares (1.99%) and is deemed interested in the 266,282,000 shares of Maju Alliance Sdn. Bhd. A pledged securities account for him with Malacca Equity Nominees (Tempatan) Sdn. Bhd. holds 5,792,000 shares (1.51%). Chan Koon Wai is also deemed interested in the 266,282,000 shares held by Maju Alliance Sdn. Bhd.Maju Alliance Sdn. Bhd. 是控股公司及最终控股公司，持有 266,282,000 股或 69.54%。在最大股东名单中，其中 172,305,000 股（45.00%）以其本身名义持有，83,977,000 股（21.93%）存于 Malacca Equity Nominees (Tempatan) Sdn. Bhd. 的抵押证券账户，10,000,000 股（2.61%）存于 AMSEC Nominees (Tempatan) Sdn. Bhd. 的抵押证券账户。Liaw Choon Wei 持有 7,628,400 股（1.99%），并被视作在 Maju Alliance Sdn. Bhd. 持有的 266,282,000 股中拥有权益。Malacca Equity Nominees (Tempatan) Sdn. Bhd. 为他开设的抵押证券账户持有 5,792,000 股（1.51%）。Chan Koon Wai 同样被视作在 Maju Alliance Sdn. Bhd. 持有的 266,282,000 股中拥有权益。
Sources (8)出处（8）
The directors regard Maju Alliance Sdn. Bhd., a company incorporated and domiciled in Malaysia, as the holding company and ultimate holding company.
1. Maju Alliance Sdn. Bhd. 266,282,000 69.54 - -
2. Liaw Choon Wei 7,628,400 1.99 266,282,000(1) 69.54
3. Chan Koon Wai - - 266,282,000(1) 69.54
1. Maju Alliance Sdn. Bhd. 172,305,000 45.00
2. Malacca Equity Nominees (Tempatan) Sdn. Bhd. 83,977,000 21.93 – Pledged Securities Account for Maju Alliance Sdn. Bhd.
5. AMSEC Nominees (Tempatan) Sdn. Bhd. 10,000,000 2.61 – Pledged Securities Account – AmBank (M) Berhad for Maju Alliance Sdn. Bhd.
7. Malacca Equity Nominees (Tempatan) Sdn. Bhd. 5,792,000 1.51 – Pledged Securities Account for Liaw Choon Wei
Liaw Choon Wei was redesignated from Managing Director to Executive Chairman on 5 January 2026. In the absence of a designated Chief Executive Officer, day-to-day operations are led by an Executive Director. Yong Wai Kin was appointed to the board on 17 July 2025, and Kok Tai Meng resigned as a director on 26 December 2025.Liaw Choon Wei 于 2026 年 1 月 5 日由董事经理调任为执行主席。在未设首席执行员的情况下，日常运营由一名执行董事负责。董事会方面，Yong Wai Kin 于 2025 年 7 月 17 日获委任，Kok Tai Meng 于 2025 年 12 月 26 日辞任董事。
Sources (5)出处（5）
Liaw Choon Wei Executive Chairman (Redesignated on 5 January 2026)
He was re-designated as our Executive Chaiman from Managing Director on 5 January 2026.
In the absence of a designated Chief Executive Officer, the responsibility for the day-to-day operational of the Group is undertaken by one of the Executive Director, who leads the implementation of the Board’s strategies and decisions
Yong Wai Kin (Appointed on 17 July 2025)
Kok Tai Meng (Resigned on 26 December 2025)
Revenue by destination country, 20252025 年按目的地国家划分的营业额
Sources (6)出处（6）
- Malaysia 414,457,750 227,515,060 1,320,000 -
- Indonesia 70,190,360 115,059,786 - -
- Singapore 1,119,143 1,591,103 - -
- Thailand 252,712 292,550 - -
- Korea 12,563 - - -
- Vietnam 23,272 44,157 - -
Major events大事记
Sources (1)出处（1）
In connection with our joint collaboration with Tae Heung Forging Co., Ltd (referred to as Tae Heung) on 4 January 2021, our Group holds exclusive rights to market and distribute fittings and flanges products under the “THF” brand in Southeast Asia markets
Sources (2)出处（2）
On 13 March 2025, our Group was successfully listed on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”)
During the financial year, the Company issued 80,400,000 new ordinary shares at a price of RM0.27 per ordinary share for a total consideration of RM21,708,000 pursuant to the Initial Public Offering
Sources (1)出处（1）
Yong Wai Kin (Appointed on 17 July 2025)
Sources (1)出处（1）
Entered into a Memorandum of Understanding (“MOU”) on 6 August 2025 with Maoming Port Group Co., Ltd and PCA Group Sdn Bhd to establish a basis of cooperation and collaboration in the oil & gas sector.
Sources (1)出处（1）
Kok Tai Meng (Resigned on 26 December 2025)
Sources (2)出处（2）
Liaw Choon Wei Executive Chairman (Redesignated on 5 January 2026)
He was re-designated as our Executive Chaiman from Managing Director on 5 January 2026.
Revenue, profit and operating cash营业额、盈利与营运现金
Assets, borrowings and equity资产、借款与权益
20252025 年
The company issued 80,400,000 new ordinary shares at RM0.27 per share raising gross proceeds of RM21,708,000 in its initial public offering, yielding net proceeds of RM19,982,000 after share issuance expenses of RM1,726,000. Net cash from operating activities was RM9,234,558. Net drawdowns of invoice financing were RM28,921,469 and net drawdowns of trust receipts were RM4,740,099, while term loan drawdowns were RM1,500,000 against repayments of RM2,579,075. Cash spending included RM223,918 on property, plant and equipment, RM1,500,000 on other investment, and RM30 for an investment in an associate. Interest paid was RM8,229,103, and the board did not recommend or pay any dividend for 2025.公司在首次公开募股中以每股 RM0.27 发行 80,400,000 股新普通股，募集资金总额 RM21,708,000，扣除 RM1,726,000 的股份发行费用后所得净额为 RM19,982,000。营运活动所得现金净额为 RM9,234,558。发票融资净提取 RM28,921,469，信托收据净提取 RM4,740,099，定期贷款提取 RM1,500,000，偿还 RM2,579,075。现金支出包括购置物业、厂房及设备 RM223,918、购买其他投资 RM1,500,000，以及投资联营公司 RM30。已付利息为 RM8,229,103；董事会不建议也不派发 2025 年度的任何股息。
Sources (11)出处（11）
Our Board do not recommend or pay any dividend in respect of FYE 2025.
During the financial year, the Company issued 80,400,000 new ordinary shares at a price of RM0.27 per ordinary share for a total consideration of RM21,708,000 pursuant to the Initial Public Offering
Addition on property, plant and equipment (223,918) (61,039)
Purchase of other investment (1,500,000) (500,000)
Investment in associates (30) -
Drawdown of term loans 1,500,000 5,610,000
Repayment of term loans (2,579,075) (6,458,198)
Net drawdown of invoice financing 28,921,469 13,281,403
Net drawdown of trust receipts 4,740,099 12,734,410
Interest paid (8,229,103) (6,797,663)
Net proceeds from the IPO exercise amounted to RM19,982,000, derived from gross proceeds of RM21,708,000 after deducting share issuance expenses of RM1,726,000.
At year end年末
Total borrowings increased by RM33.46 million or 30.74% from RM108.84 million at end 2024 to RM142.30 million at end 2025, mainly from higher utilisation of trust receipts and invoice financing to pay suppliers. Pledged fixed deposits rose from RM17,436,496 to RM27,260,116 to secure banking facilities. Buildings with a carrying amount of RM4,287,011 (2024: RM4,380,876) were pledged to licensed banks. Impairment losses on trade receivables were RM1,270,496 in 2025 compared to RM9,160 in 2024.借款总额由 2024 年底的 RM108.84 million 增加 RM33.46 million 或 30.74% 至 2025 年底的 RM142.30 million，主要是为了向供应商付款而增加了信托收据及发票融资的提取。抵押定期存款由 RM17,436,496 增至 RM27,260,116 以担保银行信贷额度。账面值为 RM4,287,011（2024 年：RM4,380,876）的建筑物抵押给了持牌银行。贸易应收款项减值亏损在 2025 年为 RM1,270,496，2024 年为 RM9,160。
Sources (4)出处（4）
Our borrowings increased by RM33.46 million or 30.74% to RM142.30 million as at 31 December 2025 (as at 31 December 2024: RM108.84 million), mainly due to higher drawdown of trust receipts and invoice financing facilities for payments to our suppliers
(a) The buildings of the Group at carrying amount of RM4,287,011 (2024 – RM4,380,876) have been pledged to licensed banks as securities for credit facilities granted (Term Loan 6, 16 and 17) to the Group
Included in the fixed deposits with licensed banks of the Group at the end of the reporting period was a sum of RM27,260,116 (2024 – RM17,436,496) which have been pledged to licensed banks as securities for bank credit facilities granted to the Group
Impairment loss on trade receivables 1,270,496 9,160 - -
Still to be spent尚未支出的资金
As at 31 March 2026, RM6.5 million of the RM21.71 million gross proceeds raised from the IPO remained unutilised. The unutilised balance comprised RM4.5 million for repayment of bank borrowings, RM1.11 million for purchase of machinery and delivery trucks, and RM0.89 million for establishment of a sales office in Indonesia. General working capital of RM8.37 million and estimated listing expenses of RM3.7 million were fully utilised.截至 2026 年 3 月 31 日，首次公开募股募集的 RM21.71 million 资金总额中，尚有 RM6.5 million 未使用。未使用的资金包括拟用于偿还银行借款的 RM4.5 million、购置机械与运输卡车的 RM1.11 million，以及在印度尼西亚设立销售办事处的 RM0.89 million。营运资金 RM8.37 million 与上市费用 RM3.7 million 已全部使用完毕。
Sources (7)出处（7）
The status of the utilisation as at 31 March 2026 of gross proceeds raised from the IPO amounting to RM21.71 million is as follows:
Establishment of a sales office in Indonesia 1,200 (306) 894 Within 42 months
Purchase of machinery and delivery trucks 1,440 (334) 1,106 Within 24 months
Repayment of bank borrowings 7,000 (2,500) 4,500 Within 24 months
General working capital 8,368 (8,368) - Within 12 months
Estimated listing expenses 3,700 (3,700) - Within 1 month
Total 21,708 (15,208) 6,500
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 | 344,514,779 | 486,055,800 |
| Profit before taxation税前盈利 | 20,076,388 | 15,194,508 |
| Profit for the financial year本年度盈利 | 13,204,297 | 10,248,603 |
| Net cash from operating activities营运活动所得现金净额 | 11,604,782 | 9,234,558 |
| Net cash used in investing activities投资活动所用现金净额 | (174,511) | (1,593,628) |
| Net cash from financing activities融资活动所得现金净额 | 9,173,688 | 33,821,558 |
| Total assets总资产 | 183,139,412 | 242,482,491 |
| Total borrowings借款总额 | 108,843,217 | 142,301,898 |
| Cash and bank balances现金与银行结余 | 38,278,650 | 80,186,847 |
| Fixed deposits with licensed banks定期存款 | 17,436,496 | 27,260,116 |
| Total equity权益总额 | 43,435,614 | 73,666,217 |
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
- The recoverability of RM73,847,565 in trade receivables, where the top five debtors represent approximately 74% of the total and RM8,555,193 is past due over 365 days.RM73,847,565 贸易应收款项的可收回性，其中前五大债务人约占总额的 74%，且有 RM8,555,193 逾期超过 365 天。
Sources (3)出处（3）
As at 31 December 2025, the Group recorded trade receivables totaling RM73,847,565.
The following shows the total amount due from top five receivables as at the reporting date which represents approximately 74% (2024 – 90%) of the total trade receivables.
> 365 days past due 8,555,193 (4,559,080) (1,270,634) 2,725,479
- The deployment of the remaining RM6.5 million in unutilised IPO proceeds, including RM4.5 million for debt repayment, RM1.11 million for machinery and delivery trucks, and RM0.89 million for the Indonesian sales office.剩余 RM6.5 million 未使用首次公开募股资金的落实进展，包括用于偿还债务的 RM4.5 million、购置机械与运输卡车的 RM1.11 million，以及印尼销售办事处的 RM0.89 million。
Sources (4)出处（4）
Establishment of a sales office in Indonesia 1,200 (306) 894 Within 42 months
Purchase of machinery and delivery trucks 1,440 (334) 1,106 Within 24 months
Repayment of bank borrowings 7,000 (2,500) 4,500 Within 24 months
Total 21,708 (15,208) 6,500
- Total borrowings stood at RM142.30 million with finance costs of RM8.23 million, and a 100 basis points change in interest rates is estimated to affect net profit by RM1,065,422.借款总额达 RM142.30 million，财务费用为 RM8.23 million，利率变动 100 个基点估计对净利润的影响为 RM1,065,422。
Sources (3)出处（3）
Our finance costs increased to RM8.23 million in FYE 2025 as compared to RM6.80 million in FYE 2024 due to higher utilisation of bank borrowings to repay our suppliers and increase in inventories to cater for our customers orders.
Our borrowings increased by RM33.46 million or 30.74% to RM142.30 million as at 31 December 2025 (as at 31 December 2024: RM108.84 million), mainly due to higher drawdown of trust receipts and invoice financing facilities for payments to our suppliers
At the reporting date, if interest rate had been 100 basis points lower/higher, with all other variables held constant, the Group’s profit net of tax would have been RM1,065,422 (2024 – RM813,190) higher/lower
- No formal anti-corruption training sessions were conducted during the reporting year. The group's target is 100% awareness training for all employee categories from FY2026 onwards.报告年度内未开展正式的反腐败培训。集团的目标是从 2026 财年起，所有员工类别实现 100% 意识培训。
Sources (2)出处（2）
we acknowledge that no formal anti-corruption training sessions or operational risk assessments were conducted during the Reporting year.
Achieve 100% awareness training for all employee categories from FY2026 onwards
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-16.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 2026-10-16。