DailySpaceReach Ten Holdings Berhad
5332 · Main Market主板（Main Market） · annual reports 2025 to 2025, 108 entries read2025 至 2025 年报，共读出 108 条
The company这家公司
Reach Ten provides satellite-based communication networks and services, fibre optic communication networks and services, and telecommunications infrastructure services and managed services. The company was listed on the Main Market of Bursa Malaysia Securities Berhad on 2 May 2025, and is an authorised reseller of Starlink satellite-based internet services, managing 453 active Starlink units.Reach Ten 提供卫星通信网络与服务、光纤通信网络与服务，以及电信基础设施服务与托管服务。公司于 2025 年 5 月 2 日在马来西亚证券交易所主板上市，并且是 Starlink 卫星互联网服务的授权转售商，管理着 453 台活跃的 Starlink 设备。
Source: annual report 2025, pages 6, 7, 17, 20.出处：2025 年年报第 6、7、17、20 页。
In 2025, satellite-based communication networks and services provided 63.01% of revenue (87.96% in 2024), fibre optic communication networks and services provided 24.93% (9.06% in 2024), telecommunications infrastructure services and managed services provided 10.34% (2.98% in 2024), and others accounted for 1.72%.2025 年，卫星通信网络与服务占营业额的 63.01%（2024 年为 87.96%），光纤通信网络与服务占 24.93%（2024 年为 9.06%），电信基础设施服务与托管服务占 10.34%（2024 年为 2.98%），其他业务占 1.72%。
Source: annual report 2025, page 20.出处：2025 年年报第 20 页。
The group is exposed to customer concentration risk, as a significant portion of its revenue is derived from the provision of services to a few key customers. In 2025, Customer #1 accounted for RM46,005,469 of revenue (2024: RM46,341,215), Customer #2 accounted for RM24,626,790 (2024: RM90,817,512), and Customer #3 accounted for RM13,707,073 (2024: RM5,686,861). At the end of the reporting period, 5 customers constituted approximately 85% of trade receivables and contract assets (2024: 2 customers constituted approximately 75%).集团面临客户集中风险，大部分营业额来自少数主要客户。2025 年，Customer #1 贡献营业额 RM46,005,469（2024 年：RM46,341,215），Customer #2 贡献 RM24,626,790（2024 年：RM90,817,512），Customer #3 贡献 RM13,707,073（2024 年：RM5,686,861）。报告期末，5 家客户占贸易应收账款与合同资产的约 85%（2024 年：2 家客户占约 75%）。
Source: annual report 2025, pages 59, 139, 141.出处：2025 年年报第 59、139、141 页。
Shareholders listed in the report include Chin Yu Lay with 176,631,800 shares (17.66%), Eddryson Effe Kuehjin Anak Bika with 150,420,000 shares (15.04%), Lu Pak Lim with 146,581,000 shares (14.66%), and Wong Kiing Ting with 128,966,400 shares (12.90%). None of the Directors has any family relationship with any directors and/or major shareholder of the Company. Azmi Bin Yusof was appointed on 10.2.2025, and Nur Rabizah Binti Adeni joined the group as Chief Strategic Officer on 1 November 2025.报告列出的股东包括持有 176,631,800 股（17.66%）的 Chin Yu Lay、持有 150,420,000 股（15.04%）的 Eddryson Effe Kuehjin Anak Bika、持有 146,581,000 股（14.66%）的 Lu Pak Lim 以及持有 128,966,400 股（12.90%）的 Wong Kiing Ting。董事之间以及与公司主要股东之间均无任何亲属关系。Azmi Bin Yusof 于 10.2.2025 获委任，Nur Rabizah Binti Adeni 于 2025 年 11 月 1 日加入集团担任首席战略官。
Source: annual report 2025, pages 11, 13, 70, 163.出处：2025 年年报第 11、13、70、163 页。
Revenue by segment, 20252025 年各部门营业额占比
Source: annual report 2025, page 20.出处：2025 年年报第 20 页。
Major events大事记
Source: annual report 2025, page 99.出处：2025 年年报第 99 页。
Source: annual report 2025, page 70.出处：2025 年年报第 70 页。
Source: annual report 2025, page 63.出处：2025 年年报第 63 页。
Source: annual report 2025, page 6.出处：2025 年年报第 6 页。
Source: annual report 2025, page 13.出处：2025 年年报第 13 页。
Source: annual report 2025, page 67.出处：2025 年年报第 67 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Total assets, liabilities and equity总资产、负债与权益
20252025 年
In 2025, net cash from operating activities was RM15,144,092. Net proceeds from the issuance of ordinary shares brought RM99,080,000, while net cash for investing activities used RM123,994,402. The group spent RM197,939,182 on the purchase of short-term investments, received RM52,230,000 from the disposal of short-term investments, and recorded a withdrawal of fixed deposits with tenure more than 3 months of RM33,611,423. Financing cash flows included RM10,000,000 of dividend paid, RM1,993,886 for repayment of term loans, and RM822,542 from the net drawdown of factoring financing.2025 年，营运活动所得现金净额为 RM15,144,092。发行普通股所得净款项带来 RM99,080,000，而投资活动所用现金净额为 RM123,994,402。集团动用 RM197,939,182 购买短期投资，从处置短期投资中收回 RM52,230,000，并提取了期限超过 3 个月的定期存款 RM33,611,423。融资现金流包括已付股息 RM10,000,000、偿还定期贷款 RM1,993,886，以及保理融资净提取 RM822,542。
Source: annual report 2025, pages 88, 89.出处：2025 年年报第 88、89 页。
At year end期末
At year end, short-term investments placed in unit trusts stood at RM145,757,540, while fixed deposits pledged to licensed banks amounted to RM5,014,896, and buildings were pledged to licensed banks. Performance guarantees given to third parties were RM5,517,663. A second interim single-tier dividend of 1 sen per ordinary share, totalling RM10,000,000, was declared on 26 November 2025 and paid on 15 January 2026. The Board stated an intention to distribute dividends of up to 30% of net profits in the future.期末，存放于单位信托的短期投资为 RM145,757,540，已质押给持牌银行的定期存款为 RM5,014,896，建筑物亦已抵押给持牌银行。向第三方提供的履约保函为 RM5,517,663。公司于 2025 年 11 月 26 日宣布派发每股 1 仙的第二次单层中期股息，共计 RM10,000,000，并于 2026 年 1 月 15 日支付。董事会表示有意在未来按净利润的至多 30% 分派股息。
Source: annual report 2025, pages 23, 67, 80, 102, 108, 139.出处：2025 年年报第 23、67、80、102、108、139 页。
Still to be spent尚未支出的承诺
From the initial public offering proceeds of RM104.0 million, RM22.2 million had been utilised and RM81.8 million remained unutilised, planned to be fully utilised within 36 months from the listing date. This unutilised balance comprises RM49.7 million for fibre optic communication networks infrastructure, RM25.0 million for telecommunication towers, RM4.9 million for working capital, and RM2.3 million for satellite-based communication networks and services capability.首次公开募股募集的 RM104.0 million 资金中，已动用 RM22.2 million，尚有 RM81.8 million 未动用，计划在上市日起 36 个月内悉数动用。未动用结余包括用于光纤通信网络基础设施的 RM49.7 million、用于电信塔建设的 RM25.0 million、用于营运资金的 RM4.9 million 以及用于增强卫星通信网络与服务能力的 RM2.3 million。
Source: annual report 2025, pages 19, 22, 139.出处：2025 年年报第 19、22、139 页。
Four years of figures四年数字
Group figures, in RM, as printed in the statements.集团数字，单位令吉，照财务报表所印。
| Group集团 | 2024 | 2025 |
|---|---|---|
| RM令吉 | RM令吉 | |
| Revenue营业额 | 170,851,463 | 111,523,924 |
| Profit before taxation税前盈利 | 94,144,617 | 46,647,336 |
| Profit after taxation税后盈利 | 71,157,706 | 35,770,297 |
| Net cash from operating activities营运活动所得现金净额 | 56,204,703 | 15,144,092 |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (11,166,685) | (11,242,248) |
| Dividend paid已付股息 | (49,000,000) | (10,000,000) |
| Short-term investments短期投资 | 0 | 145,757,540 |
| Total assets总资产 | 145,368,661 | 256,469,314 |
| Total liabilities总负债 | 43,495,253 | 39,783,187 |
| Total equity总权益 | 101,873,408 | 216,686,127 |
| Cash and cash equivalents at end of the financial year财政年度期末现金与现金等价物 | 33,773,375 | 11,935,552 |
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
Only one annual report has been read so far, so there is no later report to check its plans against.目前只读了一份年报，还没有之后的年报可以对照它的计划。
What the reports leave open年报留下待看的事
- Whether the RM81.8 million of unutilised initial public offering proceeds is deployed within the planned 36 months, including RM49.7 million for fibre optic infrastructure and RM25.0 million for telecommunication towers.未动用的 RM81.8 million 首次公开募股资金是否会在计划的 36 个月内投入使用，包括用于光纤基础设施的 RM49.7 million 和用于电信塔建设的 RM25.0 million。
Source: annual report 2025, pages 19, 22.出处：2025 年年报第 19、22 页。
- Revenue from major projects nearing completion fell from RM98.99 million in FY2024 to RM22.44 million in FY2025, while revenue from Customer #2 fell from RM90,817,512 to RM24,626,790.接近完工的重大项目营业额由 2024 财政年度的 RM98.99 million 降至 2025 财政年度的 RM22.44 million，来自 Customer #2 的营业额由 RM90,817,512 降至 RM24,626,790。
Source: annual report 2025, pages 20, 139.出处：2025 年年报第 20、139 页。
- The ability to commence telecommunications construction works is contingent upon timely regulatory approvals such as wayleave and siting plan applications from relevant local authorities.电信建设工程的开工取决于相关地方当局对通行权和选址规划申请等监管批准的及时下达。
Source: annual report 2025, page 59.出处：2025 年年报第 59 页。
- The group is evaluating the potential installation of solar panel systems at its teleports and warehouse facility.集团正在评估在其地面卫星站及仓库设施安装太阳能电池板系统的可行性。
Source: annual report 2025, page 30.出处：2025 年年报第 30 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。