DailySpaceMercury Industries Berhad
8192 · Main Market主板（Main Market） · annual reports 2022 to 2025, 341 entries read2022 至 2025 年报，共读出 341 条
The company这家公司
Mercury Industries Berhad diversified into property development on 22 June 2022, through subsidiaries including Mercury Land Sdn Bhd. All revenue and non-current assets are earned and held in Malaysia.Mercury Industries Berhad 于 2022 年 6 月 22 日多元化进军房地产开发，相关子公司包括 Mercury Land Sdn Bhd。所有营业额及非流动资产均在马来西亚赚取和持有。
Source: annual report 2022, pages 7, 8, 9, 95; annual report 2024, page 84; annual report 2025, page 33.出处：2022 年年报第 7、8、9、95 页；2024 年年报第 84 页；2025 年年报第 33 页。
In 2022, Customer A in construction contributed 62% of revenue (RM4,028,857) and Customer B in trading contributed 30% (RM1,960,451). In the 18-month 2024 period, Customer B accounted for 57% (RM2,325,591) and Customer A for 34% (RM1,376,466). In 2025, the report states take-up rates of approximately 64% for Klebang Cove Residensi and 73% for Batu Berendam, whereas the notes state that revenue expected to be recognised in the future for unsatisfied performance obligations was RMNil.2022 年，建筑部门的客户 A 贡献营业额的 62%（RM4,028,857），贸易部门的客户 B 贡献 30%（RM1,960,451）。在 2024 年的 18 个月期间，客户 B 占 57%（RM2,325,591），客户 A 占 34%（RM1,376,466）。2025 年，报告披露 Klebang Cove Residensi 认购率约为 64%，Batu Berendam 认购率为 73%，但附注显示未履行履约义务的未来预期确认营业额为 RMNil。
Source: annual report 2022, page 95; annual report 2024, page 84; annual report 2025, pages 55, 88.出处：2022 年年报第 95 页；2024 年年报第 84 页；2025 年年报第 55、88 页。
At end 2022, Dato' Tiong Kwing Hee held 24.62% (15,828,150 shares, including 1,930,000 shares or 3.00% in a pledged account under MIDF Amanah Investment Nominees (Tempatan) Sdn Bhd) and his daughters held 0.09% (58,900 shares). Tan You Tiong held 9.44% (6,066,850 shares pledged under Maybank Nominees (Tempatan) Sdn Bhd) and Alunan Astaka Sdn Bhd held 9.23% (5,936,500 shares). By 2025, Bright Meadow Sdn Bhd held 54.52% (38,559,000 shares, of which 35,192,200 shares or 49.76% were pledged under AMSEC Nominees (Tempatan) Sdn Bhd), in which Dato' Doh Tee Leong has a deemed interest, while Dato' Tiong Kwing Hee held 13.55% (9,585,350 shares, including 1,930,000 shares or 2.73% pledged under Alliancegroup Nominees (Tempatan) Sdn Bhd) and his daughters held 0.08% (58,900 shares).2022 年底，Dato' Tiong Kwing Hee 持股 24.62%（15,828,150 股，包括在 MIDF Amanah Investment Nominees (Tempatan) Sdn Bhd 质押账户下的 1,930,000 股即 3.00%），其女儿持股 0.09%（58,900 股）。Tan You Tiong 持股 9.44%（6,066,850 股，质押于 Maybank Nominees (Tempatan) Sdn Bhd），Alunan Astaka Sdn Bhd 持股 9.23%（5,936,500 股）。到 2025 年，Bright Meadow Sdn Bhd 持股 54.52%（38,559,000 股，其中 35,192,200 股即 49.76% 质押于 AMSEC Nominees (Tempatan) Sdn Bhd），Dato' Doh Tee Leong 被视为拥有该批股份权益，Dato' Tiong Kwing Hee 持股 13.55%（9,585,350 股，包括在 Alliancegroup Nominees (Tempatan) Sdn Bhd 质押的 1,930,000 股即 2.73%），其女儿持股 0.08%（58,900 股）。
Source: annual report 2022, pages 132, 133; annual report 2025, pages 208, 209.出处：2022 年年报第 132、133 页；2025 年年报第 208、209 页。
Dato' Doh Tee Leong was appointed Executive Director on 6 January 2025. His director's profile states he has no conflict of interest or potential conflict of interest with the company, while the statements show backcharge costs of RM3,972,495 by Nusa Murni Sdn Bhd and an unsecured amount owing to a related party connected to a director of RM6,142,384. Director Mr Lai is Group Director of Charter Built Group, noted as potentially in competition with the subsidiaries' core businesses. Koo Hoong Kwan and Wong Heng Hui resigned as directors on 15 May 2025.Dato' Doh Tee Leong 于 2025 年 1 月 6 日获任执行董事。其董事简介陈述其与公司不存在任何利益冲突或潜在利益冲突，但报表显示 Nusa Murni Sdn Bhd 的反向收费达 RM3,972,495，且欠负与一名董事有关联之关联方无担保款项 RM6,142,384。董事 Mr Lai 是 Charter Built Group 的集团董事，该集团业务被指出可能与子公司的核心业务构成竞争。Koo Hoong Kwan 与 Wong Heng Hui 于 2025 年 5 月 15 日辞任董事。
Source: annual report 2025, pages 3, 57, 61, 68, 93, 95.出处：2025 年年报第 3、57、61、68、93、95 页。
Major events大事记
Source: annual report 2024, page 18.出处：2024 年年报第 18 页。
Source: annual report 2022, pages 9, 55.出处：2022 年年报第 9、55 页。
Source: annual report 2022, pages 9, 55, 128.出处：2022 年年报第 9、55、128 页。
Source: annual report 2024, pages 22, 59.出处：2024 年年报第 22、59 页。
Source: annual report 2024, page 18.出处：2024 年年报第 18 页。
Source: annual report 2025, pages 3, 208.出处：2025 年年报第 3、208 页。
Source: annual report 2025, page 62.出处：2025 年年报第 62 页。
Source: annual report 2025, pages 84, 88.出处：2025 年年报第 84、88 页。
Revenue and profit / loss营业额与盈利 / 亏损
Assets, liabilities and equity资产、负债与权益
20222022 年
On 4 July 2022, the company completed a private placement. The corporate information states it listed 22,100,100 shares at RM0.8102 each to raise RM16.29 million, whereas the share capital note records 20,100,100 shares issued for RM16,285,101 (22,100,100 shares at RM0.8102 would be RM17.91 million) and cash flow records RM16,220,692 received. Issued share capital was reduced by RM60,000,000 to offset accumulated losses. The planned acquisition of land in Bandar Sungai Buloh was terminated with a forfeited deposit of RM2,351,441. The review reports no gearing with cash and bank balance of RM9.9 million, whereas the capital management note prints a debt-to-equity ratio of 0.053, with RM2.81 million in borrowings over RM52.67 million equity and the RM9.9 million cash figure including RM3.36 million pledged fixed deposits. The review also gives net asset per share of 96.84 sen, using weighted-average shares, whereas equity of RM52,671,275 over 64,300,300 issued shares is 81.9 sen.2022 年 7 月 4 日，公司完成私下配售。企业信息陈述其以每股 RM0.8102 上市 22,100,100 股以筹集 RM16.29 million，但股本附注记录发行 20,100,100 股换取 RM16,285,101（22,100,100 股按 RM0.8102 计算应为 RM17.91 million），现金流量表记录收到 RM16,220,692。已发行股本削减 RM60,000,000 以抵销累计亏损。收购 Bandar Sungai Buloh 土地的计划终止，被没收定金 RM2,351,441。管理层回顾报告称无负债且现金及银行结余为 RM9.9 million，但资本管理附注列出债务权益比为 0.053，借款 RM2.81 million 对应权益 RM52.67 million，且 RM9.9 million 现金包含 RM3.36 million 已抵押定期存款。回顾报告亦列出每股净资产为 96.84 仙（采用加权平均股数），而权益 RM52,671,275 除以已发行 64,300,300 股则为 81.9 仙。
Source: annual report 2022, pages 17, 44, 55, 67, 68, 113, 128.出处：2022 年年报第 17、44、55、67、68、113、128 页。
20242024 年
For the 18-month period, net cash used in operating activities was RM8,772,242. Property development costs of RM16,265,404 were incurred, including land entitlement costs of RM15,250,000, and other payables stood at RM11,876,125. A term loan drawdown provided RM2,811,335. Goodwill was impaired by RM3,071,449, and investment properties had a fair value loss of RM1,804,000. The review reports gearing of 0.04 times with cash and bank balance of RM3.95 million; the financial instruments note prints a debt-to-equity ratio of 0.139 based on borrowings over RM41.61 million equity, as the 0.04 times ratio netted pledged deposits. The RM3.95 million cash figure claimed included RM3,452,791 of pledged fixed deposits, and cash and cash equivalents in the cash flow statement were negative RM2,455,870.在截至 2024 年 6 月 30 日的 18 个月期间，营运活动所用现金净额为 RM8,772,242。发生房地产开发成本 RM16,265,404，其中包括土地权益成本 RM15,250,000，其他应付款项为 RM11,876,125。提取定期贷款获得 RM2,811,335。商誉减值 RM3,071,449，投资产业录得公允价值亏损 RM1,804,000。回顾报告称负债率为 0.04 倍且现金及银行结余为 RM3.95 million；财务工具附注根据借款相对 RM41.61 million 权益列出债务权益比为 0.139，因 0.04 倍扣除了已抵押存款。所称的 RM3.95 million 现金包含 RM3,452,791 已抵押定期存款，现金流量表中的现金及现金等价物为负 RM2,455,870。
Source: annual report 2024, pages 20, 70, 72, 73, 104, 121.出处：2024 年年报第 20、70、72、73、104、121 页。
20252025 年
On 30 June 2025, the company issued 3,752,030 new shares via private placement at RM0.725 each, bringing RM2,626,319 in net cash. A corporate shareholder advanced RM2,852,502, borrowings of RM107,000 were drawn, and borrowings of RM322,388 were repaid. Net cash used in operating activities was RM1,977,194. The review attributes the turnaround to property development, reporting PBT of RM4.76 million; the statements show RM4.76 million was profit after tax, PBT was RM11,063,681, property development segment profit was RM1,135,529, and the result included an impairment reversal on trade receivables of RM14.00 million. The review also states the group was in a net cash position after borrowings with total assets of RM80.77 million; the statements show cash of RM3.17 million and pledged deposits of RM3.52 million against borrowings of RM5.56 million, showing net cash only if pledged deposits are included (otherwise net debt of RM2.39 million), without counting RM2.85 million due to a corporate shareholder and RM6.14 million due to a related party.2025 年 6 月 30 日，公司以每股 RM0.725 私下配售发行 3,752,030 股新股，带来现金净额 RM2,626,319。一家企业股东垫款 RM2,852,502，提取借款 RM107,000，偿还借款 RM322,388。营运活动所用现金净额为 RM1,977,194。管理层回顾报告将业绩转亏为盈归功于房地产开发，列出税前盈利 RM4.76 million；财务报表显示 RM4.76 million 为税后盈利，税前盈利为 RM11,063,681，房地产开发分部盈利为 RM1,135,529，且业绩包含应收账款减值拨回 RM14.00 million。回顾报告还陈述集团总资产 RM80.77 million 且在借款后处于净现金状态；报表显示现金 RM3.17 million 及已抵押存款 RM3.52 million 对应借款 RM5.56 million，仅在计入已抵押存款时才为净现金（否则为净负债 RM2.39 million），且未计入应付企业股东款项 RM2.85 million 及应付关联方款项 RM6.14 million。
Source: annual report 2025, pages 6, 16, 21, 22, 31, 54, 87, 99, 102, 103.出处：2025 年年报第 6、16、21、22、31、54、87、99、102、103 页。
Across the years多年合看
Operating cash flows were negative in every period: RM8,206,498 in 2022, RM8,772,242 in the 18-month 2024 period, and RM1,977,194 in 2025. Cash funding was provided by share placements (RM16,220,692 in 2022 and RM2,626,319 in 2025), a term loan drawdown of RM2,811,335 in 2024, and a shareholder advance of RM2,852,502 in 2025. No dividends were proposed, declared or paid in any of the three annual reports.各期间营运现金流均为负数：2022 年为 RM8,206,498，2024 年 18 个月期间为 RM8,772,242，2025 年为 RM1,977,194。现金资金主要来自股份配售（2022 年 RM16,220,692 及 2025 年 RM2,626,319）、2024 年提取定期贷款 RM2,811,335，以及 2025 年股东垫款 RM2,852,502。三份年报中均未建议、宣布或派发任何股息。
Source: annual report 2022, page 68; annual report 2024, pages 59, 73; annual report 2025, pages 4, 21, 22.出处：2022 年年报第 68 页；2024 年年报第 59、73 页；2025 年年报第 4、21、22 页。
Still to be spent尚未支出的款项
The private placement was completed on 2 September 2025 with the second tranche of 2,678,000 shares at RM0.730 per share raising gross proceeds of RM1.95 million. Out of total proceeds of RM4,675,000, RM627,000 remained unutilised for working capital within 12 months. Unabsorbed business losses rose from RM3,868,000 in 2022 to RM9,131,000 in 2024 and RM19,707,644 in 2025, of which RM9,652,667 expires in assessment year 2035.私下配售于 2025 年 9 月 2 日完成，第二期以每股 RM0.730 发行 2,678,000 股筹集总收益 RM1.95 million。在 RM4,675,000 总所得款项中，RM627,000 尚未动用，计划在 12 个月内用作营运资金。未吸收营业亏损从 2022 年的 RM3,868,000 增至 2024 年的 RM9,131,000 及 2025 年的 RM19,707,644，其中 RM9,652,667 将于 2035 课税年度届满。
Source: annual report 2022, page 107; annual report 2024, page 100; annual report 2025, pages 50, 51, 84, 88.出处：2022 年年报第 107 页；2024 年年报第 100 页；2025 年年报第 50、51、84、88 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 | 2021 | 2022 | 2024 | 2025 |
|---|---|---|---|---|
| RM令吉 | RM令吉 | RM令吉 | RM令吉 | |
| Revenue营业额 | 6,342,330 | 6,522,685 | 4,077,859 | 19,272,968 |
| Profit/(Loss) before tax税前盈利 /（亏损） | (28,923,440) | (7,151,301) | (10,982,823) | 11,063,681 |
| Profit/(Loss) for the financial year/period年度 / 期间盈利 /（亏损） | (23,487,094) | (7,147,301) | (11,057,823) | 4,759,856 |
| Net cash used in operating activities营运活动所用现金净额 | – | (8,206,498) | (8,772,242) | (1,977,194) |
| Net cash from financing activities融资活动所得现金净额 | 1,867,592 | 14,502,522 | 2,373,143 | 4,989,038 |
| Cash and bank balances现金与银行结余 | 39,978 | 6,509,150 | 501,264 | 3,169,524 |
| Other investments其他投资 | 177,795 | 168,060 | 183,777 | 123,459 |
| Total assets总资产 | 65,071,944 | 72,701,601 | 75,125,571 | 80,772,346 |
| Total liabilities总负债 | 21,474,060 | 20,030,326 | 33,512,119 | 31,772,719 |
| Total equity总权益 | 43,597,884 | 52,671,275 | 41,613,452 | 48,999,627 |
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 |
|---|---|---|
| Group intends to expand upstream into property development by partnering with land owners集团计划通过与地主合作，向上游扩展至房地产开发业务 | In November 2023 the group launched Klebang Cove Residensi, and on 20 August 2024 entered into a joint development agreement with Nusa Murni Sdn Bhd for the Batu Berendam project.集团于 2023 年 11 月推出 Klebang Cove Residensi，并于 2024 年 8 月 20 日与 Nusa Murni Sdn Bhd 就 Batu Berendam 项目签署联合开发协议。 Source: annual report 2022, pages 8, 14; annual report 2024, pages 9, 18, 22; annual report 2025, page 88.出处：2022 年年报第 8、14 页；2024 年年报第 9、18、22 页；2025 年年报第 88 页。 | Carried out已执行 |
| A three-year extension to 31 December 2023 was granted for MBS vendors to meet a shortfall of RM1.8 million in guaranteed profit同意 MBS 原股东延期三年至 2023 年 12 月 31 日前补足 RM1.8 million 的利润保证差额 | The 2024 and 2025 reports do not mention the settlement of the RM1.8 million profit guarantee shortfall; MBS recorded revenue of RM0.35 million in 2025.2024 与 2025 年报未再提及补足 RM1.8 million 利润保证差额的进展；MBS 在 2025 年的营业额为 RM0.35 million。 Source: annual report 2022, page 16; annual report 2024, page 17; annual report 2025, page 100.出处：2022 年年报第 16 页；2024 年年报第 17 页；2025 年年报第 100 页。 | Not mentioned again未再提及 |
| Private placement proceeds of RM4,863,000 for property development and RM3,774,000 for working capital remained unutilised at end 2022截至 2022 年底，用于房地产开发之配售所得款项 RM4,863,000 及营运资金 RM3,774,000 尚未动用 | By 30 June 2024, the full RM16.29 million (RM16,285,000) of placement proceeds was recorded as fully utilised, with RM7,379,000 spent on property development and RM6,030,000 on working capital.截至 2024 年 6 月 30 日，全部 RM16.29 million（RM16,285,000）配售所得款项已全数动用，其中房地产开发支出 RM7,379,000，营运资金支出 RM6,030,000。 Source: annual report 2022, page 44; annual report 2024, page 49.出处：2022 年年报第 44 页；2024 年年报第 49 页。 | Fully utilised已全数动用 |
| A vendor had commenced legal action in January 2021 claiming RM969,915 for missing materials一家供应商于 2021 年 1 月就遗失材料索赔 RM969,915 提起诉讼 | On 29 July 2025, the Sessions Court dismissed the case, with the quantum of costs to be awarded to the subsidiary still undecided.地庭于 2025 年 7 月 29 日驳回该案件，判给子公司的诉讼费用数额待定。 Source: annual report 2022, page 115; annual report 2024, page 108; annual report 2025, page 62.出处：2022 年年报第 115 页；2024 年年报第 108 页；2025 年年报第 62 页。 | Dismissed by court已遭法庭驳回 |
| Klebang Cove Residensi mixed development of 648 units expected to be completed in 2026拥有 648 个单位的 Klebang Cove Residensi 综合开发项目预计于 2026 年完工 | The 2025 report maintains that the overall project is expected to be completed in year 2026, with an achieved take-up rate of approximately 64%.2025 年报维持预计整体项目将于 2026 年完工，认购率约为 64%。 Source: annual report 2024, page 9; annual report 2025, pages 55, 88, 101.出处：2024 年年报第 9 页；2025 年年报第 55、88、101 页。 | Still in progress仍在进行中 |
What the reports leave open年报留下待看的事
- Whether related-party balances are settled, after RM3,972,495 of backcharges by Nusa Murni Sdn Bhd and RM6,142,384 owed at year end to a related party connected to a director, following the board's decision not to seek renewal of the recurrent related party transaction mandate.在董事会决定不寻求重续经常性关联方交易委托后，Nusa Murni Sdn Bhd 的 RM3,972,495 反向收费，以及年末欠一名董事关联方的 RM6,142,384 将如何结清。
Source: annual report 2025, pages 57, 68, 132.出处：2025 年年报第 57、68、132 页。
- Unrecognised revenue from property contracts, as the notes report unsatisfied performance obligations of RMNil at 30 June 2025 despite reported take-up rates of approximately 64% at Klebang Cove Residensi and 73% at Batu Berendam.房地产合同未确认之营业额，因附注披露截至 2025 年 6 月 30 日未履行履约义务为 RMNil，尽管报告披露 Klebang Cove Residensi 认购率约为 64%、Batu Berendam 认购率达 73%。
Source: annual report 2025, pages 55, 88.出处：2025 年年报第 55、88 页。
- Utilisation of the remaining RM627,000 of private placement proceeds allocated for working capital, following the final tranche completed on 2 September 2025.随着 2025 年 9 月 2 日完成最后一期配售，余下分配用于营运资金的 RM627,000 私下配售所得款项的动用情况。
Source: annual report 2025, pages 84, 88.出处：2025 年年报第 84、88 页。
- Whether operating cash flows turn positive, after net cash used in operating activities of RM1,977,194 in 2025 and RM8,772,242 in 2024.营运现金流能否转正，此前在 2025 年营运活动所用现金净额为 RM1,977,194，2024 年为 RM8,772,242。
Source: annual report 2025, page 21.出处：2025 年年报第 21 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-11-06.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 2026-11-06。