DailySpaceMenang Corporation (M) Berhad
1694 · Main Market主板 · annual reports 2023 to 2025, 1112 entries read2023 至 2025 年报，共读出 1112 条
The company这家公司
Menang Corporation (M) Berhad operates three Private Financing Initiative concession projects with Universiti Teknologi MARA and the Government of Malaysia to construct and maintain campuses and a training centre for 20 years.Menang Corporation (M) Berhad 与玛拉工艺大学（UiTM）及马来西亚政府合作开展三项私人融资倡议特许经营项目，负责兴建及为期 20 年的校区与培训中心维护工作。
Source: annual report 2023, pages 13, 37; annual report 2024, page 13.出处：2023 年年报第 13、37 页；2024 年年报第 13 页。
The group has one major customer, which accounted for approximately 99% of outstanding trade receivables at both year ends.集团有一名主要客户，其在两个财年末均占未结清贸易应收款项约 99%。
Source: annual report 2024, pages 107, 109; annual report 2025, pages 114, 116.出处：2024 年年报第 107、109 页；2025 年年报第 114、116 页。
In the 2025 report, major shareholders included Chin Leong Thye Sdn. Bhd. with 111,716,440 shares (16.05%) and Liew Sook Pin with 70,006,400 shares (10.05%).在 2025 年年报中，主要股东包括持有 111,716,440 股（16.05%）的 Chin Leong Thye Sdn. Bhd. 以及持有 70,006,400 股（10.05%）的 Liew Sook Pin。
Source: annual report 2025, page 123.出处：2025 年年报第 123 页。
Executive Chairman Toh May Fook is the spouse of Executive Director Liew Sook Pin.执行主席 Toh May Fook 是执行董事 Liew Sook Pin 的配偶。
Source: annual report 2025, pages 5, 6.出处：2025 年年报第 5、6 页。
A director was redesignated to Executive Chairman on 20 July 2023. An Independent Non-Executive Director and an Executive Director resigned on 26 August 2024; Dato’ Haji Abd Aziz bin Abu Bakar and Tan Pei Geok joined the Board, Tan Pei Geok being appointed on that date.一名董事于 2023 年 7 月 20 日调任为执行主席。一名独立非执行董事与一名执行董事于 2024 年 8 月 26 日辞职；Dato’ Haji Abd Aziz bin Abu Bakar 与 Tan Pei Geok 加入董事会，其中 Tan Pei Geok 于同日获委任。
Source: annual report 2023, page 23; annual report 2024, pages 7, 12, 23, 54.出处：2023 年年报第 23 页；2024 年年报第 7、12、23、54 页。
Major events大事记
Source: annual report 2023, page 84.出处：2023 年年报第 84 页。
Source: annual report 2023, page 23.出处：2023 年年报第 23 页。
Source: annual report 2024, page 14.出处：2024 年年报第 14 页。
Source: annual report 2025, page 57.出处：2025 年年报第 57 页。
Source: annual report 2025, page 55.出处：2025 年年报第 55 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Borrowings and equity借款与权益
20232023 年
Net cash from operating activities was RM95.2 million. Term loan repayments took RM61.8 million and interest paid took RM24.8 million. Warrants exercised brought in RM2.5 million.营运活动所得现金净额为 RM95.2 million。定期贷款偿还支出 RM61.8 million，已付利息支出 RM24.8 million。行使凭单带来 RM2.5 million 进账。
Source: annual report 2023, pages 54, 55.出处：2023 年年报第 54、55 页。
20242024 年
Net cash from operating activities reached RM143.8 million. Term loan repayments used RM70.2 million and interest paid was RM22.2 million. Proceeds from the exercise of warrants provided RM29.0 million, while the company spent RM3.0 million on the purchase of treasury shares and invested RM12.0 million in an associate.营运活动所得现金净额达 RM143.8 million。偿还定期贷款使用 RM70.2 million，已付利息为 RM22.2 million。行使凭单所得款项提供 RM29.0 million，公司斥资 RM3.0 million 购买库存股，并向联营公司投资 RM12.0 million。
Source: annual report 2024, pages 63, 64.出处：2024 年年报第 63、64 页。
20252025 年
Net cash from operating activities was RM91.6 million. Term loan repayments took RM75.1 million and interest paid was RM15.9 million. A dividend paid to owners absorbed RM41.6 million, share buy-backs took RM7.3 million, and an additional investment in an associate took RM12.0 million, while warrant proceeds added RM23.2 million.营运活动所得现金净额为 RM91.6 million。偿还定期贷款支出 RM75.1 million，已付利息为 RM15.9 million。支付予所有者的股息耗资 RM41.6 million，股票回购花费 RM7.3 million，对联营公司的追加投资耗资 RM12.0 million，行使凭单款项则增加 RM23.2 million。
Source: annual report 2025, pages 71, 72.出处：2025 年年报第 71、72 页。
Across the three years三年合看
Across the three reports, loans and borrowings fell from RM418.5 million at 30 June 2022 to RM209.6 million at 30 June 2025. In FY2023, borrowings fell by RM62.5 million, mainly from the scheduled PFI loan repayment. A total of RM115.03 million was raised through the exercise of warrants, which expired on 13 December 2024.在三份年报期间，贷款与借款由 2022 年 6 月 30 日的 RM418.5 million 降至 2025 年 6 月 30 日的 RM209.6 million。2023 财年借款减少 RM62.5 million，主要来自按计划偿还的 PFI 贷款。行使凭单累计筹得 RM115.03 million，该凭单已于 2024 年 12 月 13 日届满。
Source: annual report 2023, page 16; annual report 2025, pages 17, 52.出处：2023 年年报第 16 页；2025 年年报第 17、52 页。
Still to be spent尚未支出的承诺
At 30 June 2025, approved and contracted capital commitments for properties under development stood at RM4.5 million.截至 2025 年 6 月 30 日，开发中物业已批准并签约的资本承诺为 RM4.5 million。
Source: annual report 2025, pages 52, 109.出处：2025 年年报第 52、109 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 | 87,840 | 88,520 | 95,710 | 89,688 |
| Profit before tax税前盈利 | 30,484 | 32,816 | 44,686 | 42,920 |
| Profit for the financial year本财年盈利 | 22,587 | 28,151 | 36,161 | 33,301 |
| Net cash from operating activities营运活动所得现金净额 | 104,129 | 95,240 | 143,772 | 91,604 |
| Purchase of property, plant and equipment购买物业、厂房与设备 | (1,084) | (57) | (168) | (5,131) |
| Dividend paid已付股息 | 0 | 0 | 0 | (41,562) |
| Total assets总资产 | 1,020,774 | 990,915 | 1,030,730 | 955,713 |
| Loans and borrowings贷款与借款 | 418,463 | 355,929 | 284,646 | 209,575 |
| Cash and bank balances现金与银行结余 | 34,301 | 44,878 | 109,075 | 66,380 |
| Total equity总权益 | 455,011 | 485,698 | 547,886 | 603,088 |
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 |
|---|---|---|
| Phase 1 of Menang Point in Telok Kemang, Port Dickson was expected to be completed in 2025.波德申直落甘望的 Menang Point 第一期预计于 2025 年完工。 | The project was renamed Menang Perdana, and Phase 1 is expected to be completed in 2026.该项目更名为 Menang Perdana，第一期预计延至 2026 年完工。 Source: annual report 2024, page 12; annual report 2025, page 12.出处：2024 年年报第 12 页；2025 年年报第 12 页。 | Delayed to 2026推迟至 2026 年 |
| A special single-tier dividend of RM0.06 per share was declared to be paid on 26 July 2024.宣布派发每股 RM0.06 的特别单层股息，定于 2024 年 7 月 26 日支付。 | The special dividend of RM0.06 per share amounting to RM41.6 million was paid on 26 July 2024.每股 RM0.06、总额 RM41.6 million 的特别股息已于 2024 年 7 月 26 日支付。 Source: annual report 2024, page 52; annual report 2025, page 108.出处：2024 年年报第 52 页；2025 年年报第 108 页。 | Paid已派发 |
| The group intended to begin reporting Scope 3 Category 6 and Category 7 greenhouse gas emissions in the next financial year.集团打算在下一财年开始汇报范围三第 6 类与第 7 类温室气体排放。 | Scope 3 emissions were not reported in 2025. The listing requirements were updated, and data collection processes remain in development.2025 年未汇报范围三排放。上市规则已更新，相关数据收集流程仍在建立中。 Source: annual report 2024, page 46; annual report 2025, page 48.出处：2024 年年报第 46 页；2025 年年报第 48 页。 | Still in development仍在建立中 |
| Assuming full conversion of Warrant-C, issued share capital was potentially to increase to 721,199,067 shares by 13 December 2024.假设 C 凭单全部转换，截至 2024 年 12 月 13 日公司已发行股本可能增至 721,199,067 股。 | The warrants expired on 13 December 2024, leaving issued share capital at 710,856,748 shares as unexercised warrants lapsed.该凭单于 2024 年 12 月 13 日届满，由于未行使凭单失效，最终已发行股本为 710,856,748 股。 Source: annual report 2023, page 12; annual report 2025, pages 17, 55.出处：2023 年年报第 12 页；2025 年年报第 17、55 页。 | Expired with lower share count届满且股数低于预期 |
What the reports leave open年报留下待看的事
- Progress on Menang Perdana Phase 1 completion scheduled for 2026.定于 2026 年完工的 Menang Perdana 第一期建设进展。
Source: annual report 2025, page 14.出处：2025 年年报第 14 页。
- Execution and outcome of the master plan configuration for Menang Park @ Seremban 3.Menang Park @ Seremban 3 总规划方案的配置与推进结果。
Source: annual report 2025, page 14.出处：2025 年年报第 14 页。
- Commercialisation of the Healthcare and Wellness investment in Indonesia.印度尼西亚医疗保健与康养投资业务的商业化进程。
Source: annual report 2025, page 17.出处：2025 年年报第 17 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。