DailySpaceMuda Holdings Berhad
3883 · Main Market主板 · annual reports 2023 to 2025, 1530 entries read2023 至 2025 年报，共读出 1530 条
The company这家公司
Muda manufactures and sells industrial grade paper and corrugated carton and board and other paper related products, and trades school books, uniforms and stationery.Muda 制造并销售工业用纸及瓦楞纸箱和纸板及其他纸类相关产品，并从事学校书籍、校服及文具的贸易业务。
Source: annual report 2023, page 12; annual report 2024, page 12; annual report 2025, page 189.出处：2023 年年报第 12 页；2024 年年报第 12 页；2025 年年报第 189 页。
Group revenue was RM1.77 billion in FY2022, RM1.51 billion in FY2023, RM1.45 billion in FY2024, and RM1.43 billion in FY2025. The group does not have any revenue from a single external customer that represents 10% or more of group revenue.集团营业额在 2022 财政年度为 RM1.77 billion，2023 财政年度为 RM1.51 billion，2024 财政年度为 RM1.45 billion，2025 财政年度为 RM1.43 billion。集团没有任何单一外部客户占集团营业额的 10% 或以上。
Source: annual report 2023, page 7; annual report 2024, page 7; annual report 2025, pages 7, 214.出处：2023 年年报第 7 页；2024 年年报第 7 页；2025 年年报第 7、214 页。
In the 2023 report, four holdings of 5% and above made up 57.77% of issued shares; in the 2025 report the largest were Malaysia Nominees (Tempatan) Sendirian Berhad Pledged Securities Account For Hartaban Holdings Sdn Bhd with 83,650,000 shares (27.42%), Hartaban Holdings Sdn Bhd with 20,300,000 shares (6.65%), Lim & Khoo Sdn Bhd with 54,826,100 shares (17.97%), and Asia File Corporation Bhd with 17,439,200 shares (5.72%).2023 年年报中，四个持股 5% 及以上的账户合共占已发行股份的 57.77%；2025 年年报中的大股东为：Malaysia Nominees (Tempatan) Sendirian Berhad Pledged Securities Account For Hartaban Holdings Sdn Bhd 持有 83,650,000 股（27.42%），Hartaban Holdings Sdn Bhd 持有 20,300,000 股（6.65%），Lim & Khoo Sdn Bhd 持有 54,826,100 股（17.97%），Asia File Corporation Bhd 持有 17,439,200 股（5.72%）。
Source: annual report 2023, page 181; annual report 2025, pages 217, 218.出处：2023 年年报第 181 页；2025 年年报第 217、218 页。
Founder Tan Sri Lim Guan Teik was the father of Managing Director Datuk Wira Lim Chiun Cheong and uncle of Non-Independent Non-Executive Directors Lim Siew Ling and Lim Yen Wee. Datuk Wira Lim Chiun Cheong is the cousin of Lim Siew Ling and Lim Yen Wee.创办人 Tan Sri Lim Guan Teik 是董事经理 Datuk Wira Lim Chiun Cheong 的父亲，也是非独立非执行董事 Lim Siew Ling 和 Lim Yen Wee 的叔伯。Datuk Wira Lim Chiun Cheong 是 Lim Siew Ling 和 Lim Yen Wee 的堂表亲。
Source: annual report 2023, pages 15, 16; annual report 2025, pages 7, 17.出处：2023 年年报第 15、16 页；2025 年年报第 7、17 页。
Tan Sri Lim Guan Teik stepped down as Chairman on 28 May 2025 and passed away on 31 March 2026. Dato' Azaman Bin Abu Bakar was appointed Executive Chairman on 28 May 2025. Datuk Nik Ibrahim Bin Nik Abdullah retired from the board on 27 June 2024.Tan Sri Lim Guan Teik 于 2025 年 5 月 28 日卸任主席职务，并于 2026 年 3 月 31 日逝世。Dato' Azaman Bin Abu Bakar 于 2025 年 5 月 28 日获委任为执行主席。Datuk Nik Ibrahim Bin Nik Abdullah 于 2024 年 6 月 27 日从董事会退休。
Source: annual report 2024, page 5; annual report 2025, pages 7, 16, 25, 135.出处：2024 年年报第 5 页；2025 年年报第 7、16、25、135 页。
Revenue by business activity, 20252025 年各业务类别营业额占比
Source: annual report 2025, page 189.出处：2025 年年报第 189 页。
Major events大事记
Source: annual report 2023, page 138.出处：2023 年年报第 138 页。
Source: annual report 2024, pages 5, 7.出处：2024 年年报第 5、7 页。
Source: annual report 2024, pages 170, 171.出处：2024 年年报第 170、171 页。
Source: annual report 2025, pages 7, 25.出处：2025 年年报第 7、25 页。
Source: annual report 2025, pages 6, 13.出处：2025 年年报第 6、13 页。
Source: annual report 2025, pages 7, 135.出处：2025 年年报第 7、135 页。
Revenue, loss before tax and operating cash营业额、税前亏损与营运现金
Total assets, borrowings and equity总资产、借款与权益
20232023 年
Purchase of property, plant and equipment took RM70.6 million, while capital expenditure of approximately RM92.48 million was incurred mainly on a biomass plant and upgrade to a paper machine. Borrowing drawdowns were RM289.0 million and repayments were RM295.2 million. Intrapac (Singapore) Pte. Ltd. completed the disposal of its remaining 16.88% equity interest in KL Resources Pte Ltd for SGD6,712,826 (RM22,775,000). Dividends paid were RM12.2 million to owners of the Company and RM4.9 million to non-controlling interests.购置物业、厂房及设备支出 RM70.6 million，资本开销约 RM92.48 million 主要用于生物质工厂及造纸机升级。借款提取 RM289.0 million，偿还 RM295.2 million。Intrapac (Singapore) Pte. Ltd. 完成脱售其在 KL Resources Pte Ltd 剩余的 16.88% 股权，代价为 SGD6,712,826（RM22,775,000）。支付给公司股东的股息为 RM12.2 million，支付给非控股权益的股息为 RM4.9 million。
Source: annual report 2023, pages 13, 114, 138.出处：2023 年年报第 13、114、138 页。
20242024 年
Capital spending on property, plant and equipment additions was RM88.52 million (cash payment of RM75.0 million), mainly for the biomass plant, a warehouse and the outthrow facility. Borrowing repayments were RM265.1 million against drawdowns of RM228.6 million. Dividends paid were RM9.2 million to owners of the Company and RM2.8 million to non-controlling interests. At 31 December 2024, the group recorded net current liabilities of RM37,274,000.物业、厂房及设备添置的资本开销为 RM88.52 million（现金支付 RM75.0 million），主要用于生物质工厂、仓库及除渣设施。偿还借款 RM265.1 million，提取借款 RM228.6 million。支付给公司股东的股息为 RM9.2 million，支付给非控股权益的股息为 RM2.8 million。截至 2024 年 12 月 31 日，集团录得流动负债净额 RM37,274,000。
Source: annual report 2024, pages 13, 138, 141, 142, 145.出处：2024 年年报第 13、138、141、142、145 页。
20252025 年
The group invested RM100.58 million in capital expenditure, with cash purchase of property, plant and equipment taking RM86.2 million. Disposal of assets classified as held for sale brought proceeds of RM15.5 million and a gain of RM5.26 million. Borrowing drawdowns were RM310.5 million and repayments were RM302.6 million. Dividends paid were RM6.1 million to owners of the Company and RM4.3 million to non-controlling interests. Net current liabilities widened to RM93,747,000.集团投入资本开销 RM100.58 million，购置物业、厂房及设备的现金支出为 RM86.2 million。脱售分类为持作出售资产带来款项 RM15.5 million 及收益 RM5.26 million。提取借款 RM310.5 million，偿还借款 RM302.6 million。支付给公司股东的股息为 RM6.1 million，支付给非控股权益的股息为 RM4.3 million。流动负债净额扩大至 RM93,747,000。
Source: annual report 2025, pages 12, 13, 149, 152, 156.出处：2025 年年报第 12、13、149、152、156 页。
Across the three years三年合看
Over the five-year period from FY2021 to FY2025, total capital expenditure reached RM607.34 million. The group recorded losses before tax in all three report years, while generating net cash from operating activities of RM118.0 million in 2023, RM96.0 million in 2024, and RM80.0 million in 2025. Dividends paid to owners of the Company declined from RM12.2 million in 2023 to RM9.2 million in 2024 and RM6.1 million in 2025, and the directors recommended no final dividend for FY2025.从 2021 至 2025 财政年度的五年期间，总资本开销达到 RM607.34 million。集团在三份年报年度均录得税前亏损，但营运活动所得现金净额在 2023 年为 RM118.0 million，2024 年为 RM96.0 million，2025 年为 RM80.0 million。支付给公司股东的股息从 2023 年的 RM12.2 million 降至 2024 年的 RM9.2 million 和 2025 年的 RM6.1 million，董事对 2025 财政年度不建议派发任何终期股息。
Source: annual report 2023, page 114; annual report 2024, page 141; annual report 2025, pages 13, 134, 152.出处：2023 年年报第 114 页；2024 年年报第 141 页；2025 年年报第 13、134、152 页。
Still to be spent尚未支出的承诺
Capital commitments contracted but not provided for property, plant and equipment were RM24.8 million at end 2023, RM52.5 million at end 2024, and RM38.5 million at end 2025. At end 2025, contracted commitments comprised RM25.6 million for land and buildings, RM12.7 million for plant and machinery, and RM0.2 million for computer system and others.物业、厂房及设备已签约但未拨备的资本承诺在 2023 年底为 RM24.8 million，2024 年底为 RM52.5 million，2025 年底为 RM38.5 million。截至 2025 年底，已签约承诺包括土地与建筑物 RM25.6 million、厂房及机械 RM12.7 million，以及电脑系统与其他 RM0.2 million。
Source: annual report 2024, page 185; annual report 2025, page 194.出处：2024 年年报第 185 页；2025 年年报第 194 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 | 1,769,494 | 1,505,427 | 1,453,784 | 1,433,347 |
| (Loss)/Profit before tax税前（亏损）／盈利 | (15,106) | (49,270) | (65,002) | (62,081) |
| (Loss)/Profit for the financial year财政年度（亏损）／盈利 | (8,184) | (25,434) | (47,867) | (45,721) |
| Net cash from operating activities营运活动所得现金净额 | 110,383 | 118,001 | 95,973 | 79,989 |
| Purchase of property, plant and equipment购置物业、厂房及设备 | (161,868) | (70,617) | (75,028) | (86,218) |
| Dividend paid to owners of the Company已付公司股东股息 | (15,252) | (12,202) | (9,152) | (6,101) |
| Total assets总资产 | 2,411,485 | 2,356,186 | 2,307,494 | 2,383,549 |
| Borrowings (including lease liabilities and bank overdrafts)借款（包括租赁负债及银行透支） | 717,366 | 712,335 | 746,566 | 761,631 |
| Cash and bank balances, deposits and short-term placements现金与银行结余、定期存款及短期配售 | 132,749 | 169,569 | 128,000 | 109,897 |
| Total equity总权益 | 1,337,037 | 1,300,157 | 1,225,146 | 1,304,877 |
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 |
|---|---|---|
| Construction of a second steam biomass boiler expected to be completed in the second half of 2026第二座蒸汽生物质锅炉预计于 2026 年下半年完工 | The 2025 report confirmed construction of the second biomass steam boiler is progressing on schedule and is expected to be completed in the early part of the second half of FY2026.2025 年年报确认第二座生物质蒸汽锅炉按进度推进，预计于 2026 财政年度下半年初期完工。 Source: annual report 2024, page 13; annual report 2025, page 14.出处：2024 年年报第 13 页；2025 年年报第 14 页。 | Still in progress推进中 |
| Completion of the outthrow facility plant by end of first half of year 2025除渣设施厂房预计于 2025 年上半年末前完工 | The fibre and waste recovery facility was completed in the first half of FY2025 and commenced operations in July 2025.纤维及废料回收设施于 2025 财政年度上半年完工，并于 2025 年 7 月开始营运。 Source: annual report 2024, page 13; annual report 2025, pages 6, 13.出处：2024 年年报第 13 页；2025 年年报第 6、13 页。 | Carried out已执行 |
| A single tier final dividend of 3.0 sen per ordinary share proposed for FY20232023 财政年度建议派发每股 3.0 仙的单层终期股息 | The dividend of 3.0 sen per share amounting to RM9.2 million was paid on 24 July 2024.每股 3.0 仙共计 RM9.2 million 的股息已于 2024 年 7 月 24 日派发。 Source: annual report 2023, pages 7, 96; annual report 2024, page 123.出处：2023 年年报第 7、96 页；2024 年年报第 123 页。 | Paid已派发 |
| A strategic pivot towards foreign procurement of wastepaper to maintain supply策略性转向海外采购废纸以确保供应稳定 | The 2025 report states the group will supplement local supply through imports from overseas markets where necessary, while working closely with existing local collection agents.2025 年年报指出集团在必要时通过海外市场进口补充本地供应，同时与现有本地回收代理保持紧密合作。 Source: annual report 2023, page 54; annual report 2024, page 56; annual report 2025, page 14.出处：2023 年年报第 54 页；2024 年年报第 56 页；2025 年年报第 14 页。 | Still a plan: imports where necessary仍为计划：必要时进口 |
| Extend corruption risk assessments to encompass all subsidiaries将贪腐风险评估扩展至涵盖所有子公司 | The 2024 report stated the group assessed corruption risks, without saying whether all subsidiaries were covered, and the 2025 report reported 100% of the Board of Directors received anti-corruption training.2024 年年报表明集团评估了贪腐风险，但未说明是否涵盖所有子公司，2025 年年报报告 100% 董事会成员接受了反贪培训。 Source: annual report 2023, page 83; annual report 2024, page 95; annual report 2025, page 50.出处：2023 年年报第 83 页；2024 年年报第 95 页；2025 年年报第 50 页。 | Not stated whether extended to all subsidiaries未说明是否扩至所有子公司 |
What the reports leave open年报留下待看的事
- Net current liabilities increased from RM37,274,000 as at 31 December 2024 to RM93,747,000 as at 31 December 2025.流动负债净额从截至 2024 年 12 月 31 日的 RM37,274,000 扩大至截至 2025 年 12 月 31 日的 RM93,747,000。
Source: annual report 2024, page 145; annual report 2025, pages 10, 156.出处：2024 年年报第 145 页；2025 年年报第 10、156 页。
- Completion of the second biomass steam boiler, scheduled for the early part of the second half of FY2026.第二座生物质蒸汽锅炉的完工进展，预计于 2026 财政年度下半年初期完成。
Source: annual report 2025, page 14.出处：2025 年年报第 14 页。
- Capital commitments contracted for property, plant and equipment stood at RM38.5 million at 31 December 2025, including RM25.6 million for land and buildings.截至 2025 年 12 月 31 日，已签约的物业、厂房及设备资本承诺为 RM38.5 million，包括土地与建筑物 RM25.6 million。
Source: annual report 2025, page 194.出处：2025 年年报第 194 页。
- The directors recommended no final dividend payment for FY2025, following dividends of 3.0 sen per share for FY2023 and 2.0 sen per share for FY2024.继 2023 财政年度每股 3.0 仙及 2024 财政年度每股 2.0 仙股息之后，董事不建议派发 2025 财政年度的终期股息。
Source: annual report 2024, page 123; annual report 2025, page 134.出处：2024 年年报第 123 页；2025 年年报第 134 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-11-02.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 2026-11-02。