DailySpaceBerjaya Assets Berhad
3239 · Main Market主板（Main Market） · annual reports 2023 to 2025, 2411 entries read2023 至 2025 年报，共读出 2411 条
The company这家公司
Berjaya Assets Berhad is known for the Berjaya Times Square commercial property in Kuala Lumpur, which opened in 2003. Its main business activities comprise property development and property investment, gaming and related activities, and recreation and others.Berjaya Assets Berhad 以其位于吉隆坡并于 2003 年开业的地标项目成功时代广场（Berjaya Times Square）商业产业闻名。其主要业务活动包括房地产开发与物业投资、博彩及相关活动，以及休闲及其他业务。
Source: annual report 2024, page 15; annual report 2025, pages 3, 178, 199.出处：2024 年年报第 15 页；2025 年年报第 3、178、199 页。
In 2025, property development and property investment contributed RM151.4 million of revenue, gaming and related activities contributed RM63.1 million, and recreation and others contributed RM44.5 million, before eliminations. By geographic area, Malaysia contributed RM245.6 million and areas outside Malaysia contributed RM13.4 million.2025 年，在部门抵销前，房地产开发与物业投资贡献营业额 RM151.4 million，博彩及相关活动贡献 RM63.1 million，休闲及其他业务贡献 RM44.5 million。按地区划分，马来西亚贡献 RM245.6 million，马来西亚以外地区贡献 RM13.4 million。
Source: annual report 2025, pages 199, 202.出处：2025 年年报第 199、202 页。
Natural Avenue Sdn Bhd has operated as the sole and exclusive agent for Sarawak Turf Club's Special Cash Sweep number forecast lotteries since 1995. In 2025, the group entered into the assembly of sport utility and light commercial vehicles through Berjaya Assembly Sdn Bhd, and established a 51% owned joint venture, Berjaya Autotech Sdn Bhd.Natural Avenue Sdn Bhd 自 1995 年起担任砂拉越赛马公会（Sarawak Turf Club）特别山打根大彩（Special Cash Sweep）测字博彩的独家代理。2025 年，集团通过 Berjaya Assembly Sdn Bhd 进军运动型多用途汽车和轻型商用车辆的组装业务，并成立了持股 51% 的合资企业 Berjaya Autotech Sdn Bhd。
Source: annual report 2025, pages 3, 18, 38, 145.出处：2025 年年报第 3、18、38、145 页。
Tan Sri Dato' Seri Vincent Tan Chee Yioun and DYMM Sultan Ibrahim Johor are major shareholders of the company. YAM Tunku Tun Aminah Binti Sultan Ibrahim Ismail, daughter of DYMM Sultan Ibrahim Johor, serves as Chairman of the Board. Chryseis Tan Sheik Ling, daughter of Tan Sri Dato' Seri Vincent Tan Chee Yioun, is an Executive Director. Her husband, Tan Tee Ming, was appointed Chief Executive Officer of Berjaya Times Square Sdn Bhd on 15 October 2025.Tan Sri Dato’ Seri Vincent Tan Chee Yioun 与 DYMM Sultan Ibrahim Johor 是公司的主要股东。DYMM Sultan Ibrahim Johor 之女 YAM Tunku Tun Aminah Binti Sultan Ibrahim Ismail 担任董事会主席。Tan Sri Dato’ Seri Vincent Tan Chee Yioun 之女 Chryseis Tan Sheik Ling 担任执行董事。其丈夫 Tan Tee Ming 于 2025 年 10 月 15 日获委任为 Berjaya Times Square Sdn Bhd 的首席执行员。
Source: annual report 2023, pages 5, 6, 217; annual report 2024, page 10; annual report 2025, pages 5, 8, 14, 233.出处：2023 年年报第 5、6、217 页；2024 年年报第 10 页；2025 年年报第 5、8、14、233 页。
Ahmad Radzi Bin Zaini was appointed Managing Director on 5 July 2024, while Dato' Hisham Bin Othman stepped down as Chief Executive Officer and Executive Director on 1 July 2025. Dr Jayanthi Naidu G. Danasamy was appointed Independent Non-Executive Director on 27 June 2023, Dato' Rahim Bin Suboh was appointed on 11 December 2023, and Dato' Sri Jailani Bin Johari was appointed on 30 May 2025, and Mohd Shukor Bin Abdul Mumin resigned on 31 May 2025.Ahmad Radzi Bin Zaini 于 2024 年 7 月 5 日获委任为董事经理，而 Dato’ Hisham Bin Othman 于 2025 年 7 月 1 日卸任首席执行员兼执行董事。Dr Jayanthi Naidu G. Danasamy 于 2023 年 6 月 27 日获委任为独立非执行董事，Dato’ Rahim Bin Suboh 于 2023 年 12 月 11 日获委任，Dato’ Sri Jailani Bin Johari 于 2025 年 5 月 30 日获委任，Mohd Shukor Bin Abdul Mumin 则于 2025 年 5 月 31 日辞职。
Source: annual report 2023, page 8; annual report 2024, pages 6, 64; annual report 2025, pages 13, 17, 96.出处：2023 年年报第 8 页；2024 年年报第 6、64 页；2025 年年报第 13、17、96 页。
Revenue by segment, 20252025 年各部门营业额
Source: annual report 2025, page 199.出处：2025 年年报第 199 页。
Major events大事记
Source: annual report 2023, page 199; annual report 2024, page 15.出处：2023 年年报第 199 页；2024 年年报第 15 页。
Source: annual report 2023, page 60.出处：2023 年年报第 60 页。
Source: annual report 2024, pages 14, 17.出处：2024 年年报第 14、17 页。
Source: annual report 2024, page 205; annual report 2025, page 20.出处：2024 年年报第 205 页；2025 年年报第 20 页。
Source: annual report 2025, pages 38, 145.出处：2025 年年报第 38、145 页。
Source: annual report 2025, page 193.出处：2025 年年报第 193 页。
Revenue and loss before tax营业额与税前亏损
Borrowings and equity借款与权益
20232023 年
Net cash generated from operating activities was RM48.8 million. Net cash generated from investing activities was RM51.0 million, including RM26.6 million from sale of investments and RM17.9 million from disposal of investment properties. Net cash used in financing activities was RM97.6 million, including repayments of borrowings and loans of RM40.8 million, repayment of senior medium term notes of RM20.0 million, and interest paid of RM46.6 million, while drawdown of borrowings was RM14.9 million. The Board did not recommend any dividend.营运活动所得现金净额为 RM48.8 million。投资活动所得现金净额为 RM51.0 million，包括出售投资所得 RM26.6 million 以及出售投资产业所得 RM17.9 million。融资活动所用现金净额为 RM97.6 million，包括偿还借款及贷款 RM40.8 million、偿还中期票据 RM20.0 million 和支付利息 RM46.6 million，同时提取借款 RM14.9 million。董事会未建议派发任何股息。
Source: annual report 2023, pages 11, 72, 73.出处：2023 年年报第 11、72、73 页。
20242024 年
Net cash generated from operating activities was RM23.6 million. Net cash generated from investing activities was RM28.5 million, which included RM56.5 million from sale of other investments, while payment for development expenditure was RM23.1 million and other payments were RM24.8 million. Net cash used in financing activities was RM44.2 million, where repayments of borrowings and loans were RM82.7 million and repayment of senior medium term notes was RM40.0 million, while drawdowns of borrowings were RM85.0 million and issuance of senior medium term notes was RM40.0 million, with interest paid of RM47.6 million. The Board did not recommend any dividend.营运活动所得现金净额为 RM23.6 million。投资活动所得现金净额为 RM28.5 million，其中包括出售其他投资所得 RM56.5 million，而开发支出付款为 RM23.1 million，其他付款为 RM24.8 million。融资活动所用现金净额为 RM44.2 million，其中偿还借款及贷款为 RM82.7 million，偿还中期票据为 RM40.0 million，而提取借款为 RM85.0 million，发行中期票据为 RM40.0 million，支付利息为 RM47.6 million。董事会未建议派发任何股息。
Source: annual report 2024, pages 12, 100, 101.出处：2024 年年报第 12、100、101 页。
20252025 年
Net cash generated from operating activities was RM54.8 million. Net cash generated from investing activities was RM71.0 million, including proceeds from disposal of investment properties of RM70.0 million, while payment for development expenditure was RM22.4 million. Net cash used in financing activities was RM121.7 million, with repayments of borrowings and loans of RM228.9 million and repayment of senior medium term notes of RM80.0 million, while drawdown of borrowings was RM152.5 million and issuance of senior medium term notes was RM80.0 million, alongside interest paid of RM45.9 million. The Board did not recommend any dividend.营运活动所得现金净额为 RM54.8 million。投资活动所得现金净额为 RM71.0 million，包括出售投资产业所得 RM70.0 million，而开发支出付款为 RM22.4 million。融资活动所用现金净额为 RM121.7 million，其中偿还借款及贷款为 RM228.9 million，偿还中期票据为 RM80.0 million，而提取借款为 RM152.5 million，发行中期票据为 RM80.0 million，同时支付利息 RM45.9 million。董事会未建议派发任何股息。
Source: annual report 2025, pages 16, 108, 109.出处：2025 年年报第 16、108、109 页。
Across the three years三年合看
The group recorded a loss for the year in each report: RM28.5 million in 2023, RM37.9 million in 2024, and RM22.6 million in 2025. Finance costs were RM61.6 million in 2023, RM60.7 million in 2024, and RM61.6 million in 2025. At 30 June 2025, bank borrowings stood at RM475.8 million, senior medium term notes stood at RM119.9 million, and restricted cash held in debt service reserve accounts amounted to RM15.2 million.集团在每份年报中均录得年度亏损：2023 年为 RM28.5 million，2024 年为 RM37.9 million，2025 年为 RM22.6 million。财务费用在 2023 年为 RM61.6 million，2024 年为 RM60.7 million，2025 年为 RM61.6 million。截至 2025 年 6 月 30 日，银行借款为 RM475.8 million，中期票据为 RM119.9 million，偿债准备金账户中受限制的现金为 RM15.2 million。
Source: annual report 2023, pages 68, 185; annual report 2024, pages 96, 97; annual report 2025, pages 165, 200, 206.出处：2023 年年报第 68、185 页；2024 年年报第 96、97 页；2025 年年报第 165、200、206 页。
Still to be spent尚未支出的承诺
Capital expenditure approved and contracted for was RM42.6 million at 30 June 2023, RM276.8 million at 30 June 2024, and RM253.9 million at 30 June 2025. In addition, capital expenditure approved and not contracted for stood at RM363.4 million at 30 June 2025.已批准且已签约的资本支出在 2023 年 6 月 30 日为 RM42.6 million，2024 年 6 月 30 日为 RM276.8 million，2025 年 6 月 30 日为 RM253.9 million。此外，截至 2025 年 6 月 30 日，已批准但尚未签约的资本支出为 RM363.4 million。
Source: annual report 2023, page 179; annual report 2024, page 184; annual report 2025, page 193.出处：2023 年年报第 179 页；2024 年年报第 184 页；2025 年年报第 193 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 | 174,056 | 224,129 | 243,142 | 258,985 |
| Loss before tax税前亏损 | (49,470) | (19,808) | (30,482) | (9,981) |
| Loss for the year年度亏损 | (55,878) | (28,526) | (37,892) | (22,648) |
| Net cash generated from operating activities营运活动所得现金净额 | 21,153 | 48,766 | 23,612 | 54,827 |
| Acquisition of property, plant and equipment添置物业、厂房及设备 | (553) | (1,360) | (3,142) | (5,896) |
| Cash and bank balances现金与银行结余 | 43,821 | 49,551 | 45,584 | 49,544 |
| Total assets总资产 | 3,105,687 | 3,145,206 | 3,097,120 | 3,028,651 |
| Bank borrowings银行借款 | 576,152 | 564,304 | 556,961 | 475,752 |
| Senior medium term notes中期票据 | 139,218 | 119,551 | 119,721 | 119,947 |
| Total equity总权益 | 1,872,481 | 1,889,840 | 1,861,152 | 1,825,915 |
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 2023 report stated that BTSSB was set to launch the TS2 mixed development project in December 2023, with foundation works expected to complete in early 2024 and project completion targeted for end 2027.2023 年年报称，BTSSB 预计于 2023 年 12 月推介 TS2 综合开发项目，基础工程预计于 2024 年初完工，项目目标于 2027 年底竣工。 | Foundation works were completed in March 2024 and the project was officially launched on 18 May 2024, with main construction underway for completion by end 2027.基础工程于 2024 年 3 月完工，该项目于 2024 年 5 月 18 日正式推介，主体施工正在进行，预计 2027 年底竣工。 Source: annual report 2023, page 16; annual report 2024, pages 14, 17; annual report 2025, page 19.出处：2023 年年报第 16 页；2024 年年报第 14、17 页；2025 年年报第 19 页。 | Launched later than said; completion still targeted for end 2027开盘迟于预期；仍预计 2027 年底完工 |
| The 2023 report stated that the company intended to undertake a sustainability materiality study in FYE 2024.2023 年年报称，公司打算在 2024 财年进行可持续发展实质性研究。 | The group undertook a materiality assessment exercise in FY2024 with an external consultant and presented the refined matrix to the Board in October 2024.集团于 2024 财年与外部顾问一起开展了实质性评估工作，并于 2024 年 10 月向董事会提交了完善后的矩阵。 Source: annual report 2023, page 24; annual report 2024, page 30.出处：2023 年年报第 24 页；2024 年年报第 30 页。 | Carried out已执行 |
| The 2024 report stated that the group planned to conduct an independent verification and assurance process for its GHG emission data in FY2025.2024 年年报称，集团计划在 2025 财年对其温室气体排放数据进行独立验证和鉴证程序。 | The group engaged SIRIM QAS to perform independent verification and assurance for its Sustainability Statement FY2025, including limited assurance of energy-consumption data.集团聘请 SIRIM QAS 对其 2025 财年可持续发展声明进行独立验证与鉴证，包括对能源消耗数据进行有限鉴证。 Source: annual report 2024, page 35; annual report 2025, pages 40, 64.出处：2024 年年报第 35 页；2025 年年报第 40、64 页。 | Carried out已执行 |
| The 2024 report stated a plan to progressively replace the chillers at Berjaya Waterfront Hotel, dependent on the availability of funds.2024 年年报称，计划逐步更换 Berjaya Waterfront Hotel 的制冷机，具体时间取决于资金到位情况。 | In FYE2025, the group replaced the ageing Carrier chiller unit at Berjaya Waterfront Complex with a Midea chiller, and installed a new chiller system and cooling tower.在 2025 财年，集团将 Berjaya Waterfront Complex 老化的 Carrier 制冷机组更换为 Midea 制冷机，并安装了新的制冷系统和冷却塔。 Source: annual report 2024, page 36; annual report 2025, pages 37, 41.出处：2024 年年报第 36 页；2025 年年报第 37、41 页。 | Carried out已执行 |
| The 2023 report stated that the group decided to dispose of an investment property consisting of 70 residential apartment units situated in the United Kingdom.2023 年年报称，集团决定出售一家子公司拥有的投资产业，该产业包含位于英国的 70 个住宅公寓单位。 | Disposal negotiations required an updated fire rating assessment, and the company announced that the disposal was completed on 2 October 2025.出售谈判需要更新防火评级评估，公司随后宣布该产业出售已于 2025 年 10 月 2 日完成。 Source: annual report 2023, page 151; annual report 2024, page 157; annual report 2025, pages 165, 166.出处：2023 年年报第 151 页；2024 年年报第 157 页；2025 年年报第 165、166 页。 | Carried out已执行 |
| The 2023 report stated that Natural Avenue Sdn Bhd would explore the introduction of new game variants once permitted by the relevant authorities.2023 年年报称，Natural Avenue Sdn Bhd 将在相关部门批准后继续探索推出新游戏品种。 | The 2024 report repeated the intention, and the 2025 report stated that NASB was preparing for the launch of a new game by end of 2025.2024 年年报重申了该意向，而 2025 年年报称 NASB 正准备在 2025 年底前推出一款新游戏。 Source: annual report 2023, page 19; annual report 2024, page 19; annual report 2025, page 22.出处：2023 年年报第 19 页；2024 年年报第 19 页；2025 年年报第 22 页。 | Still in progress仍在进行中 |
What the reports leave open年报留下待看的事
- The outcome of tax appeals involving Berjaya Times Square Sdn Bhd for additional tax assessments and penalties of RM277.1 million, with a final mention date set for 10 December 2025 at the Special Commissioners of Income Tax to fix trial dates.涉及 Berjaya Times Square Sdn Bhd 额外税款评估及罚款 RM277.1 million 的税务上诉结果，所得税特别专员处定于 2025 年 12 月 10 日进行最后提堂以确定审讯日期。
Source: annual report 2025, pages 130, 184, 222.出处：2025 年年报第 130、184、222 页。
- Refinancing of bank borrowings following non-compliance with financial and non-financial covenants on RM61.0 million of bank borrowings as of 30 June 2025, for which the group has received indicative refinancing offers.截至 2025 年 6 月 30 日，集团未能遵守涉及 RM61.0 million 银行借款的财务及非财务条款后对银行借款的再融资进展，集团已获得意向性再融资要约。
Source: annual report 2025, pages 114, 169.出处：2025 年年报第 114、169 页。
- Construction and sales progress for Times Square 2, where 237 of the 629 residential units have been sold as at September 2025, with completion targeted for end 2027 and total estimated gross development value of RM625 million.Times Square 2 的工程与销售进展，截至 2025 年 9 月，629 个住宅单位中已有 237 个单位售出，目标于 2027 年底竣工，预计总开发总值为 RM625 million。
Source: annual report 2025, pages 3, 19.出处：2025 年年报第 3、19 页。
- BASB's vehicle assembly volume and the planned introduction of Jetour T1 and T2 models targeted for production start in December 2025.BASB 的车辆组装量以及计划于 2025 年 12 月开始投产的捷途（Jetour）T1 和 T2 车型的引入情况。
Source: annual report 2025, page 22.出处：2025 年年报第 22 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-11-01.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 2026-11-01。