DailySpaceIskandar Waterfront City Berhad
1589 · Main Market主板（Main Market） · annual reports 2023 to 2025, 1616 entries read2023 至 2025 年报，共读出 1616 条
The company这家公司
The revenue of Iskandar Waterfront City Berhad is derived entirely in Malaysia.Iskandar Waterfront City Berhad 的营业额全部来自马来西亚。
Source: annual report 2023, page 133; annual report 2024, page 135; annual report 2025, page 158.出处：2023 年年报第 133 页；2024 年年报第 135 页；2025 年年报第 158 页。
The group's main property development projects include Botanika and Danga Sutera. Botanika comprises 3 towers of 264 apartment units each, while Danga Sutera features 525 double-storey terrace houses and 120 semi-detached houses across its earlier phases, followed by 84 semi-detached units in Phase 3.集团的主要物业发展项目包括Botanika 和 Danga Sutera。Botanika 包含 3 座各 264 个单位的公寓，而 Danga Sutera 早期阶段包括 525 间双层排屋和 120 间半独立式洋房，随后在第三期推出 84 间半独立式洋房。
Source: annual report 2023, page 10; annual report 2024, page 10; annual report 2025, page 15.出处：2023 年年报第 10 页；2024 年年报第 10 页；2025 年年报第 15 页。
In 2025, the property development segment generated RM42.30 million of revenue. One customer contributed RM20.0 million in the property development segment, whereas in 2023 and 2024 no single customer contributed 10% or more to revenue.2025 年，物业发展部门产生 RM42.30 million 营业额。一名客户在物业发展部门贡献了 RM20.0 million，而在 2023 和 2024 年，没有任何单一客户贡献营业额的 10% 或以上。
Source: annual report 2023, page 146; annual report 2024, page 148; annual report 2025, pages 11, 158, 171.出处：2023 年年报第 146 页；2024 年年报第 148 页；2025 年年报第 11、158、171 页。
At the end of 2025, pledged securities accounts for Iskandar Waterfront Holdings Sdn. Bhd. held 138,000,000 shares (14.982%), 102,000,000 shares (11.073%) and 65,000,000 shares (7.056%). Tan Sri Dato' Lim Kang Hoo held 5,540,700 shares (0.602%) under a pledged securities account.截至 2025 年底，Iskandar Waterfront Holdings Sdn. Bhd. 的抵押证券账户持有 138,000,000 股（14.982%）、102,000,000 股（11.073%）以及 65,000,000 股（7.056%）。Tan Sri Dato' Lim Kang Hoo 通过抵押证券账户持有 5,540,700 股（0.602%）。
Source: annual report 2025, pages 197, 199.出处：2025 年年报第 197、199 页。
Tan Sri Dato' Lim Kang Hoo is the father of Lim Chen Herng and uncle of Datuk Lim Keng Guan, while Lim Chen Herng and Datuk Lim Keng Guan are cousins. Executive changes include the appointment of Lim Fang Ching as Chief Operating Officer on 1 July 2025, following the cessation of Yap Meow Hin as Deputy Chief Executive Officer.Tan Sri Dato' Lim Kang Hoo 是 Lim Chen Herng 的父亲及 Datuk Lim Keng Guan 的叔父，而 Lim Chen Herng 与 Datuk Lim Keng Guan 为堂表兄弟。管理层变动方面，在 Yap Meow Hin 卸任副首席执行员后，Lim Fang Ching 于 2025 年 7 月 1 日出任首席营运员。
Source: annual report 2025, pages 4, 24, 25, 29.出处：2025 年年报第 4、24、25、29 页。
The company is classified as an affected listed issuer under Paragraph 8.03A of Bursa Malaysia's listing requirements. Its proposed regularisation plan, encompassing debt restructuring and capital reduction, was submitted to Bursa Malaysia and approved on 6 January 2026.根据马来西亚交易所上市要求第 8.03A 段，该公司被列为受影响的上市公司。其包括债务重组与资本削减在内的正规化计划已提交给马来西亚交易所，并于 2026 年 1 月 6 日获得批准。
Source: annual report 2023, page 40; annual report 2025, pages 4, 13, 44.出处：2023 年年报第 40 页；2025 年年报第 4、13、44 页。
Revenue by activity, 20252025 年各项业务营业额占比
Source: annual report 2025, page 158.出处：2025 年年报第 158 页。
Major events大事记
Source: annual report 2023, page 147; annual report 2024, pages 87, 149.出处：2023 年年报第 147 页；2024 年年报第 87、149 页。
Source: annual report 2023, page 166; annual report 2024, page 87; annual report 2025, page 110.出处：2023 年年报第 166 页；2024 年年报第 87 页；2025 年年报第 110 页。
Source: annual report 2023, page 10.出处：2023 年年报第 10 页。
Source: annual report 2024, pages 87, 169.出处：2024 年年报第 87、169 页。
Source: annual report 2025, page 110.出处：2025 年年报第 110 页。
Source: annual report 2025, pages 4, 113.出处：2025 年年报第 4、113 页。
Source: annual report 2025, pages 13, 113.出处：2025 年年报第 13、113 页。
Source: annual report 2025, pages 113, 195.出处：2025 年年报第 113、195 页。
Source: annual report 2025, page 111.出处：2025 年年报第 111 页。
Revenue and loss before taxation营业额与税前亏损
Assets, liabilities and equity总资产、总负债与总权益
Borrowings and cash借款与现金结余
20232023 年
Revenue was RM104.72 million and loss before tax was RM5.26 million. Borrowings decreased from RM123.95 million to RM109.61 million. The group drew RM14.6 million in bridging loans and repaid RM30.9 million, while paying interest of RM6.7 million. Repayments to related parties were RM4.6 million. A subsidiary issued 2,000,000 redeemable preference shares at RM1.00 per share and redeemed RM1.0 million. No dividend was recommended.营业额为 RM104.72 million，税前亏损为 RM5.26 million。借款由 RM123.95 million 减少至 RM109.61 million。集团提取了 RM14.6 million 过桥贷款并偿还了 RM30.9 million，同时支付了 RM6.7 million 利息。向关联方偿还了 RM4.6 million。一家子公司以每股 RM1.00 发行了 2,000,000 股可赎回优先股，并赎回了 RM1.0 million。没有建议派发股息。
Source: annual report 2023, pages 10, 16, 17, 81, 100, 137.出处：2023 年年报第 10、16、17、81、100、137 页。
20242024 年
Revenue was RM101.75 million and loss before tax widened to RM17.16 million, with negative construction revenue of RM12.80 million from the finalisation of legacy contracts. Borrowings reduced to RM106.29 million, while cash and bank balances rose to RM26.63 million. The group drew RM6.0 million in bridging loans, repaid bridging loans of RM7.3 million and revolving credit of RM2.3 million, and paid interest of RM7.8 million. Bayou Management Sdn Bhd's redeemable preference shares were all redeemed, and redemption of redeemable preference shares took RM9.5 million. Repayments to related parties were RM4.4 million, and purchase of property, plant and equipment took RM3.3 million. No dividend was recommended.营业额为 RM101.75 million，税前亏损扩大至 RM17.16 million，因遗留合同结算导致建筑营业额为负 RM12.80 million。借款减少至 RM106.29 million，现金与银行结余增至 RM26.63 million。集团提取了 RM6.0 million 过桥贷款，偿还了 RM7.3 million 过桥贷款和 RM2.3 million 循环信贷，并支付了 RM7.8 million 利息。Bayou Management Sdn Bhd 的可赎回优先股已全数赎回，赎回可赎回优先股支出 RM9.5 million。向关联方偿还款项为 RM4.4 million，物业、厂房及设备购置花费了 RM3.3 million。没有建议派发股息。
Source: annual report 2024, pages 10, 12, 18, 102, 131.出处：2024 年年报第 10、12、18、102、131 页。
20252025 年
Revenue dropped to RM43.42 million and loss before tax was RM18.64 million. Borrowings stood at RM106.72 million and cash and bank balances increased to RM31.07 million. Financing outflows included RM6.2 million of interest paid and repayments to related parties of RM2.8 million. No dividend was recommended.营业额降至 RM43.42 million，税前亏损为 RM18.64 million。借款为 RM106.72 million，现金与银行结余增至 RM31.07 million。融资流出包括已付利息 RM6.2 million 以及向关联方偿还 RM2.8 million。没有建议派发股息。
Source: annual report 2025, pages 11, 12, 126.出处：2025 年年报第 11、12、126 页。
Across the three years三年合看
The group reported losses before tax throughout the period: RM5.26 million in 2023, RM17.16 million in 2024, and RM18.64 million in 2025. Total assets reduced from RM1.45 billion at end 2023 to RM1.37 billion in 2024 and RM1.34 billion in 2025. Borrowings declined from RM123.95 million at end 2022 to RM109.61 million in 2023 and RM106.29 million in 2024, then stood at RM106.72 million in 2025. No dividend was declared in any of the three years.集团在整个期间均录得税前亏损：2023 年 RM5.26 million、2024 年 RM17.16 million 以及 2025 年 RM18.64 million。总资产由 2023 年底的 RM1.45 billion 减少至 2024 年的 RM1.37 billion 和 2025 年的 RM1.34 billion。借款由 2022 年底的 RM123.95 million 降至 2023 年的 RM109.61 million 和 2024 年的 RM106.29 million，2025 年为 RM106.72 million。三年内均未宣布派发股息。
Source: annual report 2023, pages 10, 16, 17, 18; annual report 2024, pages 10, 16, 18; annual report 2025, pages 11, 17, 20.出处：2023 年年报第 10、16、17、18 页；2024 年年报第 10、16、18 页；2025 年年报第 11、17、20 页。
Still to be spent尚未支出的承诺
Capital commitments for the purchase of property, plant and equipment were RM1.0 million at end 2024 and RM0.7 million at end 2023. A proposed regularisation plan includes the cancellation of RM120 million of paid-up share capital unrepresented by available assets.用于购置物业、厂房及设备的资本承诺在 2024 年底为 RM1.0 million，2023 年底为 RM0.7 million。拟议的正规化计划包括削减无可用资产代表的 RM120 million 实收股本。
Source: annual report 2024, page 149; annual report 2025, pages 113, 172.出处：2024 年年报第 149 页；2025 年年报第 113、172 页。
Four years of figures四年数字
Group figures, in RM thousand (×1,000), as printed in the statements.集团数字，单位千令吉（×1,000），照财务报表所印。
| Group集团 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| RM'000千令吉 | RM'000千令吉 | RM'000千令吉 | RM'000千令吉 | |
| Revenue营业额 | 92,358 | 104,721 | 101,751 | 43,421 |
| Loss before taxation税前亏损 | (23,617) | (5,263) | (17,162) | (18,637) |
| Loss after taxation attributable to owners of the Company归属于母公司业主的税后亏损 | (32,205) | (6,303) | (19,363) | (18,288) |
| Total assets总资产 | 1,469,100 | 1,451,404 | 1,372,344 | 1,337,559 |
| Total liabilities总负债 | 724,272 | 712,879 | 653,182 | 636,685 |
| Total equity总权益 | 744,828 | 738,525 | 719,162 | 700,874 |
| Loans and borrowings贷款与借款 | 123,948 | 109,610 | 106,290 | 106,723 |
| Cash and bank balances现金与银行结余 | 8,212 | 12,059 | 26,633 | 31,066 |
| Fixed deposits with licensed banks定期存款 | 15,690 | 16,009 | 16,669 | 16,232 |
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 international units of Parcel 2 of Danga Sutera Phase 3, which comprises 42 semi-detached houses, were expected to be fully taken up by the second quarter of 2024.Danga Sutera 第三期第二批（共 42 间半独立式洋房）的国际配额单位预计将于 2024 年第二季度被全数认购。 | All international units of Phase 3B were sold out in 2024, and all 84 units of Phase 3 (comprising Phase 3A and Phase 3B) were completed and handed over in 2025.第三期 B 的所有国际配额单位于 2024 年售罄，第三期的全部 84 个单位（包括 3A 与 3B 期）于 2025 年竣工并完成移交。 Source: annual report 2023, page 14; annual report 2024, pages 11, 15; annual report 2025, pages 11, 15.出处：2023 年年报第 14 页；2024 年年报第 11、15 页；2025 年年报第 11、15 页。 | Completed已完成 |
| Danga Rivera, a 16-acre mixed waterfront development in Permas Jaya, was among the upcoming developments in the pipeline.位于 Permas Jaya 的 16 英亩综合滨水发展项目 Danga Rivera 是筹备中的未来项目之一。 | The development remained in the pipeline through 2024, and in 2026 the group entered into a conditional agreement to dispose of the 16.43 acres of land formerly known as the Danga Rivera project.该项目至 2024 年仍在筹备中，2026 年集团就出售原称为 Danga Rivera 项目的 16.43 英亩土地签署了有条件协议。 Source: annual report 2023, page 15; annual report 2024, page 11; annual report 2025, pages 11, 23, 113.出处：2023 年年报第 15 页；2024 年年报第 11 页；2025 年年报第 11、23、113 页。 | Conditional disposal agreement signed已签署有条件脱售协议 |
| The group was preparing for the upcoming launch of Botanika Tower A, comprising 264 luxury apartments.集团正筹备推出 Botanika Tower A，包含 264 套豪华公寓。 | Following a strategic review, the group entered into a Development Rights Agreement granting a strategic partner exclusive rights to develop, market and sell Botanika Tower A and Town Villas.在进行战略审查后，集团签署了开发权协议，授予战略合作伙伴开发、营销及销售 Botanika Tower A 与 Town Villas 的独家权利。 Source: annual report 2024, pages 11, 15; annual report 2025, pages 11, 45.出处：2024 年年报第 11、15 页；2025 年年报第 11、45 页。 | Rights granted to partner权利已授予合作伙伴 |
| The group expected the release of the remaining 20% Bumiputera quota units in Botanika Tower B and Tower C in 2025.集团预计将于 2025 年释放 Botanika Tower B 与 Tower C 剩余的 20% 土著配额单位。 | The release of the remaining Bumiputera units in Towers B and C was deferred to 2027 due to factors beyond the group's control.由于集团无法控制的因素，Tower B 与 C 剩余土著单位的释放推迟至 2027 年。 Source: annual report 2024, page 15; annual report 2025, pages 15, 16.出处：2024 年年报第 15 页；2025 年年报第 15、16 页。 | Deferred to 2027推迟至 2027 年 |
| IWCity was granted an extension of time to 23 March 2025, and subsequently to 23 September 2025, to submit its regularisation plan to Bursa Malaysia.IWCity 获准延长宽限期至 2025 年 3 月 23 日，随后进一步延长至 2025 年 9 月 23 日，以向马来西亚交易所提交其正规化计划。 | The group submitted the proposed regularisation plan, which was approved by Bursa Malaysia on 6 January 2026.集团提交了拟议的正规化计划，并于 2026 年 1 月 6 日获得马来西亚交易所批准。 Source: annual report 2024, pages 4, 89; annual report 2025, pages 4, 13, 44.出处：2024 年年报第 4、89 页；2025 年年报第 4、13、44 页。 | Submitted and approved已提交并获批 |
What the reports leave open年报留下待看的事
- Implementation of the regularisation plan, which includes debt settlement and a capital reduction of RM120 million, following shareholders' approval on 11 February 2026.正规化计划的实施情况，包括在 2026 年 2 月 11 日获得股东批准后进行的债务清偿和 RM120 million 的资本削减。
Source: annual report 2025, pages 13, 113.出处：2025 年年报第 13、113 页。
- The outcome of the Tenaga Nasional Berhad legal claim claiming damages of RM76,565,000, with an appeal hearing scheduled for 4 January 2027.Tenaga Nasional Berhad 索赔 RM76,565,000 赔偿金的诉讼结果，上诉听证会定于 2027 年 1 月 4 日举行。
Source: annual report 2023, page 147; annual report 2024, page 87; annual report 2025, pages 111, 112.出处：2023 年年报第 147 页；2024 年年报第 87 页；2025 年年报第 111、112 页。
- Completion of the conditional sale and purchase agreement dated 13 February 2026 for the disposal of 16.43 acres of vacant leasehold land in Plentong.2026 年 2 月 13 日签署的关于出售避兰东（Plentong）16.43 英亩租赁空地的有条件买卖协议的完成情况。
Source: annual report 2025, pages 113, 195.出处：2025 年年报第 113、195 页。
- Appointment of new external auditors Daxin KF&C PLT to succeed Crowe Malaysia PLT, who chose not to seek re-appointment at the 57th Annual General Meeting.委任新外聘审计师 Daxin KF&C PLT 接替未在第 57 届股东常年大会上寻求连任的 Crowe Malaysia PLT。
Source: annual report 2025, pages 114, 208.出处：2025 年年报第 114、208 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。