DailySpaceTMK Chemical Berhad
5330 · Main Market主板（Main Market） · annual reports 2024 to 2025, 326 entries read2024 至 2025 年报，共读出 326 条
The company这家公司
TMK Chemical Berhad provides total chemical management and chemical terminal services across 15 facilities in Malaysia, Singapore, and Vietnam. In May 2024, it began manufacturing chlor-alkali derivatives at its chlor-alkali manufacturing plant in Banting, Selangor. As of 3 April 2026, the group operated through 22 subsidiaries across Malaysia, Singapore, Vietnam and Indonesia.TMK Chemical Berhad 在马来西亚、新加坡和越南的 15 个设施提供综合化学品管理与化学品码头服务。2024 年 5 月，集团开始在雪兰莪万津的氯碱制造厂生产氯碱衍生品。截至 2026 年 4 月 3 日，集团通过 22 家子公司在马来西亚、新加坡、越南和印度尼西亚开展业务。
Source: annual report 2024, pages 20, 22, 23, 25; annual report 2025, page 21.出处：2024 年年报第 20、22、23、25 页；2025 年年报第 21 页。
The total chemical management segment contributed 99% of revenue in 2024, with the remaining 1% coming from chemical terminal services. In 2025, total chemical management brought revenue of RM1,041.2 million and chemical terminal services brought RM11.7 million. The group generates revenue from 26 countries, and foreign sales contributed 48.8% to total revenue in 2024.2024 年，综合化学品管理部门贡献了营业额的 99%，其余 1% 来自化学品码头服务。2025 年，综合化学品管理带来营业额 RM1,041.2 million，化学品码头服务带来 RM11.7 million。集团的营业额来自 26 个国家，2024 年国外销售占总营业额的 48.8%。
Source: annual report 2024, pages 20, 23, 30; annual report 2025, page 25.出处：2024 年年报第 20、23、30 页；2025 年年报第 25 页。
The 2025 report states that the overall distribution remained broadly stable, supporting revenue diversification. The statements print Vietnam revenue falling from 263,990 to 63,207 (a fall of 76% and a share decrease from 20.3% to 6.0%), while Malaysia's share rose from 51.2% to 59.9%.2025 年报称整体地域分布大体保持稳定，支持营业额多元化。财务报表显示，来自越南的营业额从 263,990 下跌至 63,207（跌幅 76%，占比由 20.3% 降至 6.0%），而马来西亚的占比则由 51.2% 升至 59.9%。
Source: annual report 2025, pages 25, 155.出处：2025 年年报第 25、155 页。
Dato’ Lee Soon Hian is the largest shareholder with 395,041,065 shares, representing 39.50%. Leong Chao Seong holds 94,883,288 shares (9.49%) and is deemed interested in 21,040,009 shares (2.10%) held by his spouse Chung Yook Chee and children Leong Xiao Rui and Leong Xiao Lung, for a total of 115,923,297 shares (11.59%). In 2024, 94,813,288 shares (9.481%) were in a pledged securities account under Maybank Private Wealth Management for Leong Chao Seong. Lee Oi Loon holds 64,774,457 shares (6.48%).Dato’ Lee Soon Hian 为最大股东，持有 395,041,065 股，占 39.50%。Leong Chao Seong 持有 94,883,288 股（9.49%），并通过配偶 Chung Yook Chee 以及子女 Leong Xiao Rui 和 Leong Xiao Lung 间接持有 21,040,009 股（2.10%），合计持有 115,923,297 股（11.59%）。2024 年，Maybank Private Wealth Management for Leong Chao Seong 的抵押证券账户持有 94,813,288 股（9.481%）。Lee Oi Loon 持有 64,774,457 股（6.48%）。
Source: annual report 2024, pages 86, 161, 162; annual report 2025, pages 84, 159, 160.出处：2024 年年报第 86、161、162 页；2025 年年报第 84、159、160 页。
Ms. Lee Yan Ling is the daughter of Dato’ Lee Soon Hian and niece of Lee Oi Loon. Her brothers Mr. Lee Hong Zhang, Mr. Lee Sen Zhang and Mr. Lee Tian Zhang are also shareholders. Mr. Chung is the brother-in-law of director Leong Chao Seong. A Chief Financial Officer was promoted on 18 July 2025.Lee Yan Ling 是 Dato’ Lee Soon Hian 的女儿，也是 Lee Oi Loon 的侄女。其兄弟 Lee Hong Zhang、Lee Sen Zhang 和 Lee Tian Zhang 亦为公司股东。Mr. Chung 是董事 Leong Chao Seong 的内兄弟。一名首席财务官于 2025 年 7 月 18 日获晋升。
Source: annual report 2024, pages 15, 18, 78, 86; annual report 2025, pages 14, 17, 18, 78, 84.出处：2024 年年报第 15、18、78、86 页；2025 年年报第 14、17、18、78、84 页。
Revenue by destination, 20252025 年按目的地划分的营业额
Source: annual report 2025, page 155.出处：2025 年年报第 155 页。
Major events大事记
Source: annual report 2024, pages 28, 29, 101, 134.出处：2024 年年报第 28、29、101、134 页。
Source: annual report 2024, pages 22, 29, 71.出处：2024 年年报第 22、29、71 页。
Source: annual report 2024, page 71; annual report 2025, page 156.出处：2024 年年报第 71 页；2025 年年报第 156 页。
Source: annual report 2024, page 21; annual report 2025, pages 82, 135.出处：2024 年年报第 21 页；2025 年年报第 82、135 页。
Source: annual report 2025, page 120.出处：2025 年年报第 120 页。
Source: annual report 2025, page 156.出处：2025 年年报第 156 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Assets, borrowings and equity资产、借款与权益
20242024 年
On 12 December 2024, TMK listed on the Main Market, raising gross proceeds of RM385.0 million from 220.0 million ordinary shares at RM1.75 per share, with net proceeds of RM379.6 million from the IPO. Financing activities generated net cash of RM496.8 million, including RM250.0 million from term loans. TMK paid net cash of RM250.0 million to acquire Chlor-Al under a share sale agreement for RM697.9 million. Operating activities provided net cash of RM161.6 million, additions to property, plant and equipment were RM41.2 million, and dividends paid to shareholders were RM27.4 million. The report states that PAT margin improved from 7.0% to 9.0%; statements print profit for the year of 111,684 on revenue of 1,303,385, which is 8.6%, not 9.0%. The report also states gross profit growth was driven by disciplined financial management and operational efficiency; segment gross profit rose only RM7.8m (241,838 to 249,630), and RM24.6m of the RM32.4m group rise came from a smaller inter-segment elimination from 31,958 to 7,350. The report states PATAMI was RM111.4 million, an increase of RM20.1 million or 21.9% compared to RM91.8 million in 2023; the statements print profit attributable to equity holders rising from 91,782 to 111,424, an increase of 19,642 (RM19.6m or 21.4%), while RM20.1m or 21.9% was the rise in profit for the year. In Note 28, 406,623 is term loans and bankers' acceptances only; with lease liabilities of RM19.7m the total is RM426.4m, compared to the report's RM406.6 million of borrowings stated to comprise term loans, bankers' acceptances, and lease liabilities.2024 年 12 月 12 日，TMK 于主板上市，以每股 RM1.75 发行 220.0 million 股普通股，筹集总额 RM385.0 million，上市净所得为 RM379.6 million。融资活动带来现金净额 RM496.8 million，其中包括定期贷款所得 RM250.0 million。TMK 支付现金净额 RM250.0 million 用于收购 Chlor-Al，该股份买卖协议对价为 RM697.9 million。营运活动带来现金净额 RM161.6 million，购置物业、厂房及设备为 RM41.2 million，支付股东股息为 RM27.4 million。年报称税后净利润率由 7.0% 提升至 9.0%；财务报表所载年度盈利为 111,684，营业额为 1,303,385，利润率为 8.6%，并非 9.0%。年报亦称毛利增长受严格财务管理和营运效率推动；分部毛利仅增长 RM7.8m（由 241,838 增至 249,630），集团 RM32.4m 的增幅中有 RM24.6m 源自分部间抵销减少（由 31,958 降至 7,350）。年报称归母净利润达 RM111.4 million，较 2023 年的 RM91.8 million 增加 RM20.1 million 或 21.9%；报表显示归属于母公司股东盈利由 91,782 增至 111,424，增额为 19,642（RM19.6m 或 21.4%），而 RM20.1m 或 21.9% 实为年度净利润的增幅。附注 28 中 406,623 仅为定期贷款与银行承兑汇票；加上 RM19.7m 的租赁负债，总额为 RM426.4m，而年报称未偿还借款 RM406.6 million 包括定期贷款、银行承兑汇票及租赁负债。
Source: annual report 2024, pages 22, 25, 26, 27, 28, 29, 30, 71, 94, 101, 134, 150.出处：2024 年年报第 22、25、26、27、28、29、30、71、94、101、134、150 页。
20252025 年
Operating activities generated net cash of RM114.7 million. Financing activities used net cash of RM200.7 million, including repayment of term loans of RM170.1 million with advance repayments of RM110,000,000, and dividends paid of RM35.0 million. Investing activities used net cash of RM26.3 million, with additions to property, plant and equipment of RM25.1 million. The review presents the acquisition of an industrial property in Singapore as an FYE 2025 advance; only an SGD1.4m deposit was paid in 2025 and the purchase completed after year-end on 30 January 2026. The report states that no material adverse foreign currency impact was experienced during the financial year; the statements show profit-or-loss foreign exchange was a net gain of RM1.5m, but translation of foreign units cut equity by RM11.9m (12% of profit).营运活动带来现金净额 RM114.7 million。融资活动动用现金净额 RM200.7 million，其中包括偿还定期贷款 RM170.1 million（含提前还款 RM110,000,000），以及支付股息 RM35.0 million。投资活动动用现金净额 RM26.3 million，其中购置物业、厂房及设备为 RM25.1 million。管理层讨论与分析将收购新加坡工业产业列为 2025 财政年度的进展；2025 年仅支付了 SGD1.4m 定金，该收购于年结后的 2026 年 1 月 30 日完成。年报称财政年度内未遭受重大不利外汇影响；财务报表显示计入损益的外汇收益净额为 RM1.5m，但折算外国业务使权益减少 RM11.9m（占盈利的 12%）。
Source: annual report 2024, page 21; annual report 2025, pages 19, 29, 82, 91, 99, 135, 156.出处：2024 年年报第 21 页；2025 年年报第 19、29、82、91、99、135、156 页。
Across the two years两年合看
Across the two years, TMK raised gross proceeds of RM385.0 million (net proceeds of RM379.6 million) from its initial public offering and drew RM250.0 million of term loans; it paid net cash of RM250.0 million to acquire Chlor-Al for RM697.9 million. In 2025, term loan repayments were RM170.1 million, including advance repayments of RM110,000,000. TMK paid dividends of RM27.4 million in 2024 and RM35.0 million in 2025. Subsequent to year end, an interim dividend of RM21.0 million was paid on 9 January 2026 and a final dividend of RM28,000,000 was recommended for 2025.两年合看，TMK 通过首次公开募股筹集总额 RM385.0 million（净所得 RM379.6 million），并提取 RM250.0 million 定期贷款；收购 Chlor-Al 支付现金净额 RM250.0 million（总对价 RM697.9 million）。2025 年，偿还定期贷款 RM170.1 million，包括提前还款 RM110,000,000。TMK 于 2024 年支付股息 RM27.4 million，2025 年支付 RM35.0 million。年结之后，中期股息 RM21.0 million 于 2026 年 1 月 9 日派发，并建议派发 2025 年终期股息 RM28,000,000。
Source: annual report 2024, pages 21, 28, 29, 71, 101; annual report 2025, pages 82, 99, 135.出处：2024 年年报第 21、28、29、71、101 页；2025 年年报第 82、99、135 页。
Still to be spent尚未支出的承诺
Of the RM385.0 million IPO proceeds, RM161.3 million (41.9%) was utilized, per the 2025 report. For expansion of Banting Plant 1, RM12.6 million of RM90.2 million was spent; for acquisition of land with factory building, RM2.5 million of RM49.5 million was spent (varied from construction costs on 13 March 2025); and acquisitions to be identified of RM99.1 million had not been utilized. Amounts approved and contracted for were RM77.6 million, and amounts approved but not contracted were RM88.3 million at year end.在 RM385.0 million 上市所得款项中，据 2025 年报已动用 RM161.3 million（41.9%）。万津一厂扩建已动用 RM90.2 million 中的 RM12.6 million；收购土地及厂房已动用 RM49.5 million 中的 RM2.5 million（2025 年 3 月 13 日由建筑成本变更）；待确定的收购 RM99.1 million 尚未动用。年终已批准并签约的金额为 RM77.6 million，已批准但未签约的金额为 RM88.3 million。
Source: annual report 2024, page 71; annual report 2025, pages 69, 152.出处：2024 年年报第 71 页；2025 年年报第 69、152 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 | 2023 | 2024 | 2025 |
|---|---|---|---|
| RM'000千令吉 | RM'000千令吉 | RM'000千令吉 | |
| Revenue营业额 | 1,306,096 | 1,303,385 | 1,052,982 |
| Profit before tax税前盈利 | 122,346 | 140,140 | 120,091 |
| Profit for the year年度盈利 | 91,598 | 111,684 | 97,155 |
| Net cash from operating activities营运活动现金净额 | 39,896 | 161,571 | 114,654 |
| Net cash used in investing activities投资活动所用现金净额 | (43,944) | (289,111) | (26,251) |
| Net cash from/(used in) financing activities融资活动现金净额 | 6,937 | 496,801 | (200,671) |
| Total assets总资产 | 1,069,137 | 1,364,871 | 1,272,378 |
| Total liabilities总负债 | 546,870 | 631,664 | 510,217 |
| Borrowings借款 | 232,521 | 406,623 | 260,972 |
| Cash and cash equivalents现金与现金等价物 | 136,523 | 503,210 | 398,404 |
| Total equity总权益 | 522,267 | 733,207 | 762,161 |
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 |
|---|---|---|
| Installation of solar panels at Banting Plant 1 and Tanjung Langsat facility in progress (2024)万津一厂和丹绒浪 sat 设施的太阳能电池板安装正在进行中（2024） | The installation of solar panels at Banting Plant 1 was completed during the financial year.万津一厂的太阳能电池板安装工程已在财政年度内完成。 Source: annual report 2024, page 42; annual report 2025, page 43.出处：2024 年年报第 42 页；2025 年年报第 43 页。 | Completed at Banting Plant 1万津一厂已完成 |
| Plan to enhance upstream manufacturing capacity by constructing Banting Plant 2 at the site of existing Banting Plant 1 (2024)计划在现有万津一厂厂址兴建万津二厂，以提升上游制造产能（2024） | The group initiated the expansion of Banting Plant 2 and commenced preparatory works.集团启动了万津二厂的扩建工程，并开展前期准备工作。 Source: annual report 2024, page 31; annual report 2025, pages 19, 27.出处：2024 年年报第 31 页；2025 年年报第 19、27 页。 | Preparatory works commenced前期工作已展开 |
| Repayment of loans of RM50.0 million from IPO proceeds within 6 months (2024)在 6 个月内以首次公开募股所得款项偿还 RM50.0 million 贷款（2024） | RM50.0 million of IPO proceeds was fully utilized for loan repayment.RM50.0 million 上市所得款项已全数用于偿还贷款。 Source: annual report 2024, page 71; annual report 2025, page 69.出处：2024 年年报第 71 页；2025 年年报第 69 页。 | Fully utilized已全数动用 |
| Working capital spending of RM79.4 million from IPO proceeds within 12 months (2024)在 12 个月内以首次公开募股所得款项支付 RM79.4 million 营运资金（2024） | RM79.4 million of IPO proceeds was fully utilized for working capital.RM79.4 million 上市所得款项已全数用于营运资金。 Source: annual report 2024, page 71; annual report 2025, page 69.出处：2024 年年报第 71 页；2025 年年报第 69 页。 | Fully utilized已全数动用 |
| Expected to obtain the CCC by June 2025 for one property (2024)预计在 2025 年 6 月前取得一项产业的完工及合规证书（CCC）（2024） | The group obtained the CCC in October 2025.集团于 2025 年 10 月取得完工及合规证书（CCC）。 Source: annual report 2024, page 72; annual report 2025, page 70.出处：2024 年年报第 72 页；2025 年年报第 70 页。 | Completed later than said迟于预期完成 |
| May expand Kemaman Bulk Terminal for customer services in the future (2024)未来可能扩建甘马挽液体散货码头以向客户提供服务（2024） | The Kemaman Bulk Terminal continues to serve primarily as an internal storage facility.甘马挽散货码头继续主要用作内部储存设施。 Source: annual report 2024, page 22; annual report 2025, page 22.出处：2024 年年报第 22 页；2025 年年报第 22 页。 | Remains internal storage仍作内部储存 |
What the reports leave open年报留下待看的事
- Utilization of remaining IPO proceeds: RM12.6 million of RM90.2 million was utilized for Banting Plant 1 expansion, which targets doubling production capacity by the fourth quarter of 2027; RM2.5 million of RM49.5 million was utilized for land and factory acquisition; and none of the RM99.1 million allocated for unidentified acquisitions was utilized.上市所得款项后续动用：万津一厂扩建已动用 RM90.2 million 中的 RM12.6 million，目标于 2027 年第四季度将产能翻倍；收购土地及厂房已动用 RM49.5 million 中的 RM2.5 million；待确定收购的 RM99.1 million 尚未动用。
Source: annual report 2025, pages 24, 69.出处：2025 年年报第 24、69 页。
- Regulatory compliance and building plan approvals: application to amend building plans is intended by May 2026, with CCC expected by November 2027, and fire certificates expected by October 2026 and February 2028.监管合规与建筑图测批准：拟于 2026 年 5 月前申请修改建筑图测，预计于 2027 年 11 月取得 CCC，消防证书预计于 2026 年 10 月及 2028 年 2 月取得。
Source: annual report 2025, page 70.出处：2025 年年报第 70 页。
- RM77.6 million approved and contracted for, and RM88.3 million approved and not contracted for at year end.年终已批准并签约的金额为 RM77.6 million，已批准但未签约为 RM88.3 million。
Source: annual report 2025, page 152.出处：2025 年年报第 152 页。
- Regional expansion: completion of the Singapore property acquisition on 30 January 2026, and the new subsidiaries PT TMK Kimia Indonesia and Peninsula Chemical Sdn. Bhd.区域扩张：于 2026 年 1 月 30 日完成的新加坡产业收购，以及新子公司 PT TMK Kimia Indonesia 和 Peninsula Chemical Sdn. Bhd.。
Source: annual report 2025, pages 120, 156.出处：2025 年年报第 120、156 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。