DailySpaceHap Seng Consolidated Berhad
3034 · Main Market主板（Main Market） · annual reports 2023 to 2025, 3252 entries read2023 至 2025 年报，共读出 3252 条
The company这家公司
Hap Seng Consolidated Berhad operates six core businesses: plantation, property, credit financing, automotive, trading, and building materials.Hap Seng Consolidated Berhad 经营六大核心业务：种植、地产、信贷融资、汽车、贸易以及建筑材料。
Source: annual report 2024, page 8; annual report 2025, page 9.出处：2024 年年报第 8 页；2025 年年报第 9 页。
In 2025, external revenue by business segment was RM2,043.4 million from trading, RM937.1 million from building materials, RM778.6 million from property, RM702.4 million from plantation, RM541.5 million from automotive, and RM104.1 million from credit financing.2025 年，各业务部门的对外营业额分别为：贸易 RM2,043.4 million、建筑材料 RM937.1 million、地产 RM778.6 million、种植 RM702.4 million、汽车 RM541.5 million 以及信贷融资 RM104.1 million。
Source: annual report 2025, page 228.出处：2025 年年报第 228 页。
By geographic location, Malaysia contributed RM3,780.4 million of revenue in 2025 and RM4,283.6 million in 2024. The group does not have any significant exposure to any individual customer.按地区划分，马来西亚在 2025 年贡献营业额 RM3,780.4 million，2024 年贡献 RM4,283.6 million。集团对任何单一客户均无重大集中风险。
Source: annual report 2024, page 276; annual report 2025, page 232.出处：2024 年年报第 276 页；2025 年年报第 232 页。
The immediate and ultimate holding company is Gek Poh (Holdings) Sdn Bhd, which held 54.63% of the shares (1,360,094,542 shares) in the 2025 report, while Hap Seng Insurance Services Sdn Bhd held 8.01% (199,364,580 shares). Affin Hwang Nominees (Asing) Sdn Bhd held 14.85% (369,712,949 shares) for Lei Shing Hong Securities Limited (Clients Account). Pledged securities accounts for Naza Corporation Holdings Sdn Bhd held 2.53% (63,000,000 shares) under MBSB Investment Nominees (Tempatan) Sdn Bhd and 1.61% (40,000,000 shares) under MBSB Bank Berhad.直接兼最终控股公司为 Gek Poh (Holdings) Sdn Bhd，在 2025 年报中持有 54.63% 股份（1,360,094,542 股），Hap Seng Insurance Services Sdn Bhd 持有 8.01%（199,364,580 股）。Affin Hwang Nominees (Asing) Sdn Bhd 代表 Lei Shing Hong Securities Limited（客户账户）持有 14.85%（369,712,949 股）。Naza Corporation Holdings Sdn Bhd 的质押证券账户中，MBSB Investment Nominees (Tempatan) Sdn Bhd 持有 2.53%（63,000,000 股），MBSB Bank Berhad 持有 1.61%（40,000,000 股）。
Source: annual report 2025, pages 116, 265, 267.出处：2025 年年报第 116、265、267 页。
Mr Lee Wee Yong retired as Group Finance Director and executive director on 31 December 2024. Mr Leow Ming Fong @ Leow Min Fong resigned as Chairman of the Audit Committee and independent non-executive director on 3 March 2025, and Mr Wong Yoke Nyen was appointed Chairman of the Audit Committee on 4 March 2025. In executive appointments, Mr Lee Weng Yew was appointed chief executive of the automotive division on 17 February 2025, Mr Lim Chee Long was appointed chief executive of the credit financing division on 3 July 2025, and Mr Khor Soo Beng was appointed chief executive of the property division on 1 January 2026.Mr Lee Wee Yong 于 2024 年 12 月 31 日卸任集团财务总监及执行董事。Mr Leow Ming Fong @ Leow Min Fong 于 2025 年 3 月 3 日辞任审计委员会主席及独立非执行董事，Mr Wong Yoke Nyen 于 2025 年 3 月 4 日获任审计委员会主席。在管理层任命方面，Mr Lee Weng Yew 于 2025 年 2 月 17 日获委任为汽车部门行政总裁，Mr Lim Chee Long 于 2025 年 7 月 3 日获委任为信贷融资部门行政总裁，Mr Khor Soo Beng 于 2026 年 1 月 1 日获委任为地产部门行政总裁。
Source: annual report 2024, pages 49, 67; annual report 2025, pages 61, 62, 63.出处：2024 年年报第 49、67 页；2025 年年报第 61、62、63 页。
External revenue by segment, 20252025 年各业务部门对外营业额
Source: annual report 2025, page 228.出处：2025 年年报第 228 页。
Major events大事记
Source: annual report 2023, pages 198, 280.出处：2023 年年报第 198、280 页。
Source: annual report 2023, page 276.出处：2023 年年报第 276 页。
Source: annual report 2024, page 44.出处：2024 年年报第 44 页。
Source: annual report 2024, page 24.出处：2024 年年报第 24 页。
Source: annual report 2024, page 287.出处：2024 年年报第 287 页。
Source: annual report 2025, pages 20, 23.出处：2025 年年报第 20、23 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Total assets, borrowings and equity总资产、借款与总权益
20232023 年
In 2023, net cash flows generated from operating activities were RM1,332,045,000. Capital expenditure included RM434,978,000 for purchase of property, plant and equipment and RM482,299,000 for additions to investment properties. The group received net cash inflow of RM831,836,000 from the disposal of subsidiaries, including HS Credit (Manchester) Ltd for RM879,203,000 and Richmore Development Sdn Bhd for RM51,000,000. Cash outflows for financing included net repayment of borrowings of RM100,940,000, dividends paid to shareholders of RM622,417,000, and dividends paid to non-controlling interests of RM56,477,000.2023 年，营运活动所得现金净额为 RM1,332,045,000。资本开支包括购置物业、厂房及设备的 RM434,978,000 以及添置投资物业的 RM482,299,000。集团因脱售子公司录得现金净流入 RM831,836,000，包括以 RM879,203,000 脱售 HS Credit (Manchester) Ltd 以及以 RM51,000,000 脱售 Richmore Development Sdn Bhd。融资现金流出包括偿还借款净额 RM100,940,000、向股东派发股息 RM622,417,000，以及向非控股权益派发股息 RM56,477,000。
Source: annual report 2023, pages 158, 159, 198.出处：2023 年年报第 158、159、198 页。
20242024 年
In 2024, net cash flows generated from operating activities were RM963,329,000. Cash used in investing activities included purchase of property, plant and equipment of RM521,883,000, additions to investment properties of RM168,139,000, and an increase in money market deposits of RM577,557,000. Financing cash flows showed a net drawdown of borrowings of RM431,851,000, while dividends paid to shareholders were RM497,934,000 and dividends paid to non-controlling interests were RM59,056,000.2024 年，营运活动所得现金净额为 RM963,329,000。用于投资活动的现金包括购置物业、厂房及设备的 RM521,883,000、添置投资物业的 RM168,139,000 以及货币市场存款增加 RM577,557,000。融资现金流方面，净提取借款 RM431,851,000，向股东派发股息 RM497,934,000，向非控股权益派发股息 RM59,056,000。
Source: annual report 2024, pages 168, 169.出处：2024 年年报第 168、169 页。
20252025 年
In 2025, net cash flows generated from operating activities were RM674,795,000. Capital spending took RM327,909,000 for purchase of property, plant and equipment and RM225,640,000 for additions to investment properties, while proceeds from disposal of property, plant and equipment brought RM55,641,000. Financing activities included net repayment of borrowings of RM171,742,000, dividends paid to shareholders of RM497,934,000, and dividends paid to non-controlling interests of RM66,125,000, alongside a decrease in money market deposits of RM439,788,000.2025 年，营运活动所得现金净额为 RM674,795,000。资本支出中，购置物业、厂房及设备用去 RM327,909,000，添置投资物业用去 RM225,640,000，脱售物业、厂房及设备所得款项为 RM55,641,000。融资活动包括净偿还借款 RM171,742,000、向股东派发股息 RM497,934,000 以及向非控股权益派发股息 RM66,125,000，同时货币市场存款减少 RM439,788,000。
Source: annual report 2025, pages 136, 137.出处：2025 年年报第 136、137 页。
Across the three years三年合看
Total borrowings stood at RM7,069,000,000 at end 2022, RM6,834,261,000 in 2023, RM7,156,792,000 in 2024, and RM6,933,369,000 in 2025. The group issued Sustainability-linked Bonds of up to RM1.1 billion as of December 2022, RM1.25 billion as of December 2023, and RM1.78 billion as of December 2024. Total dividends paid to owners across the three financial years were RM622,417,000 for 2023, RM497,934,000 for 2024, and RM497,934,000 for 2025.总借款在 2022 年底为 RM7,069,000,000，2023 年为 RM6,834,261,000，2024 年为 RM7,156,792,000，2025 年为 RM6,933,369,000。截至 2022 年 12 月集团发行了高达 RM1.1 billion 的可持续发展挂钩债券，截至 2023 年 12 月达 RM1.25 billion，截至 2024 年 12 月达 RM1.78 billion。三个财政年度向母公司股东派发的股息分别为 2023 年 RM622,417,000、2024 年 RM497,934,000 及 2025 年 RM497,934,000。
Source: annual report 2023, pages 85, 159, 229; annual report 2024, pages 82, 169, 239; annual report 2025, pages 137, 206.出处：2023 年年报第 85、159、229 页；2024 年年报第 82、169、239 页；2025 年年报第 137、206 页。
Still to be spent尚未支出的承诺
Capital commitments contracted but not provided for property, plant and equipment decreased from RM420,330,000 at end 2023 to RM153,326,000 in 2024 and RM64,388,000 in 2025. Contracted commitments for investment properties were RM563,728,000 at end 2023, RM305,327,000 in 2024, and RM144,182,000 in 2025.已签约但未拨备的物业、厂房及设备资本承诺由 2023 年底的 RM420,330,000 降至 2024 年的 RM153,326,000 及 2025 年的 RM64,388,000。投资物业的已签约承诺在 2023 年底为 RM563,728,000，2024 年为 RM305,327,000，2025 年为 RM144,182,000。
Source: annual report 2023, page 247; annual report 2024, page 257; annual report 2025, page 226.出处：2023 年年报第 247 页；2024 年年报第 257 页；2025 年年报第 226 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 | 7,110,496 | 6,086,118 | 5,630,715 | 5,107,149 |
| Profit before tax税前利润 | 1,330,460 | 1,101,919 | 1,105,166 | 855,390 |
| Profit for the year年度利润 | 1,062,883 | 908,492 | 772,016 | 585,856 |
| Net cash from operating activities营运活动所得现金净额 | (85,916) | 1,332,045 | 963,329 | 674,795 |
| Purchase of property, plant and equipment购置物业、厂房及设备 | (632,240) | (434,978) | (521,883) | (327,909) |
| Dividends paid已付股息 | (746,901) | (622,417) | (497,934) | (497,934) |
| Total assets总资产 | 18,654,245 | 18,650,634 | 19,035,525 | 18,672,817 |
| Total borrowings总借款 | 7,069,000 | 6,834,261 | 7,156,792 | 6,933,369 |
| Cash and bank balances现金及银行结余 | 1,431,980 | 2,274,383 | 1,880,151 | 1,753,676 |
| Total equity总权益 | 8,994,223 | 9,274,734 | 9,420,211 | 9,385,143 |
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 |
|---|---|---|
| 832 hectares of immature oil palm were expected to mature in 2024 (2023 report)2023 年年报预计 832 公顷未成熟油棕将于 2024 年成熟 | The 2024 report showed 32,276 hectares of mature area and 2,580 hectares immature, with 828 hectares projected to mature in 2025.2024 年年报显示成熟面积为 32,276 公顷，未成熟面积为 2,580 公顷，预计 2025 年有 828 公顷成熟。 Source: annual report 2023, page 13; annual report 2024, page 14.出处：2023 年年报第 13 页；2024 年年报第 14 页。 | Mature area recorded已记录成熟面积 |
| Hyatt Regency Kuala Lumpur was set to open its doors in 2025 (2023 report)2023 年年报称 Hyatt Regency Kuala Lumpur 定于 2025 年开业 | Hyatt Regency Kuala Lumpur commenced operations in August 2025.Hyatt Regency Kuala Lumpur 于 2025 年 8 月开业运营。 Source: annual report 2023, page 24; annual report 2025, pages 20, 23.出处：2023 年年报第 24 页；2025 年年报第 20、23 页。 | Opened in August 2025于 2025 年 8 月开业 |
| Time-bound plan to achieve 100% RSPO certification by 2025 (2023 report)2023 年年报提出在 2025 年前实现 100% RSPO 认证的有期计划 | The 2025 report revised the target to achieve 100% RSPO certification by 2028.2025 年年报将实现 100% RSPO 认证的目标修改为 2028 年。 Source: annual report 2023, page 15; annual report 2025, page 14.出处：2023 年年报第 15 页；2025 年年报第 14 页。 | Target deferred to 2028目标推迟至 2028 年 |
| Construction of a biogas plant at Tomanggong Palm Oil Mill scheduled for completion by FY2024 (2023 report)2023 年年报称 Tomanggong 棕油厂沼气厂建设定于 2024 财年完工 | The 2025 report noted the biogas plant at Tomanggong Palm Oil Mill is upcoming in 2026.2025 年年报指出 Tomanggong 棕油厂的沼气厂将于 2026 年建成。 Source: annual report 2023, page 114; annual report 2025, page 47.出处：2023 年年报第 114 页；2025 年年报第 47 页。 | Delayed to 2026推迟至 2026 年 |
| Hafary planned to establish a new 10,000 square feet flagship store at 161 Lavender Street (2023 report)2023 年年报称 Hafary 计划在 161 Lavender Street 设立面积 10,000 平方英尺的新旗舰店 | Hafary House at Lavender Street was launched in December 2024 spanning 10,000 square feet.位于 Lavender Street 面积 10,000 平方英尺的 Hafary House 于 2024 年 12 月投入使用。 Source: annual report 2023, page 45; annual report 2024, page 45; annual report 2025, page 45.出处：2023 年年报第 45 页；2024 年年报第 45 页；2025 年年报第 45 页。 | Opened in December 2024于 2024 年 12 月开业 |
| Planned to perform ESG due diligence on all new and existing suppliers by 2024 (2023 report)2023 年年报计划在 2024 年前对所有新旧供应商进行 ESG 尽职调查 | The 2024 report noted that ESG due diligence on suppliers will be implemented in FY2025.2024 年年报指出对供应商的 ESG 尽职调查将于 2025 财年执行。 Source: annual report 2023, page 99; annual report 2024, page 95.出处：2023 年年报第 99 页；2024 年年报第 95 页。 | Deferred to 2025延后至 2025 年 |
What the reports leave open年报留下待看的事
- Whether the two signature office towers and the retail mall master leased to AEON at KL Midtown complete and open before end 2026.位于 KL Midtown 且总租赁予 AEON 的零售商场以及两座标志性办公大楼能否在 2026 年底前完工开业。
Source: annual report 2025, pages 19, 20.出处：2025 年年报第 19、20 页。
- Whether the conditional acquisition of Platinum Park obtains Economic Planning Unit approval on or before 22 September 2026.对 Platinum Park 的有条件收购能否在 2026 年 9 月 22 日或之前获得经济策划局的批准。
Source: annual report 2025, page 254.出处：2025 年年报第 254 页。
- The outcome of the Court of Appeal proceedings on the RESB land dispute, with case management fixed on 27 July 2026.关于 RESB 土地纠纷的上诉法院诉讼结果，案件管理定于 2026 年 7 月 27 日。
Source: annual report 2025, pages 233, 234.出处：2025 年年报第 233、234 页。
- Progress towards achieving 100% RSPO certification for palm oil production by the revised target of 2028.棕油生产能否在修订后的 2028 年目标期限前实现 100% RSPO 认证的进展。
Source: annual report 2025, page 14.出处：2025 年年报第 14 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。