DailySpaceTaliworks Corporation Berhad
8524 · Main Market主板 · annual reports 2023 to 2025, 3060 entries read2023 至 2025 年报，共读出 3060 条
The company这家公司
Taliworks Corporation Berhad describes itself as an infrastructure company able to design, build and operate infrastructure projects. All Group revenue is derived from Malaysia based on the location of services delivered.Taliworks Corporation Berhad 自称是一家能够设计、建造及营运基础设施项目的基础设施公司。基于提供服务所在的地点，集团全部营业额均来自马来西亚。
Source: annual report 2023, page 5; annual report 2024, page 5; annual report 2025, page 236.出处：2023 年年报第 5 页；2024 年年报第 5 页；2025 年年报第 236 页。
In 2025, water treatment and supply generated RM186.82 million of revenue, highway toll operations and maintenance generated RM130.43 million, engineering and construction generated RM109.13 million, renewable energy generated RM31.15 million, and others contributed RM4.33 million. Pengurusan Air Selangor Sdn. Bhd. is the Group's single largest customer, contributing RM186,824,000 from the water segment and RM106,376,000 from the construction segment in 2025.2025 年，水处理与供应产生 RM186.82 million 营业额，大道收费营运与维护产生 RM130.43 million，工程与建筑产生 RM109.13 million，可再生能源产生 RM31.15 million，其他业务贡献 RM4.33 million。Pengurusan Air Selangor Sdn. Bhd. 是集团唯一的单一最大客户，在 2025 年贡献水务部门 RM186,824,000 以及建筑部门 RM106,376,000。
Source: annual report 2025, pages 33, 236.出处：2025 年年报第 33、236 页。
The Group's waste management business is held through a 35% equity interest in SWM Environment Holdings Sdn. Bhd., which was acquired in 2016. SWM Environment Sdn. Bhd. holds a concession for waste collection and public cleansing services in the southern region of Peninsular Malaysia until September 2033. Employees Provident Fund also holds a 35% equity interest in SWM Environment Holdings Sdn. Bhd.集团的废弃物管理业务通过持有 SWM Environment Holdings Sdn. Bhd. 35% 股权开展，该股权于 2016 年收购。SWM Environment Sdn. Bhd. 拥有在马来西亚半岛南部地区提供废弃物收集和公共清洁服务的特许经营权，直至 2033 年 9 月。Employees Provident Fund 亦持有 SWM Environment Holdings Sdn. Bhd. 35% 股权。
Source: annual report 2024, page 10; annual report 2025, pages 52, 265.出处：2024 年年报第 10 页；2025 年年报第 52、265 页。
LGB Group Sdn Bhd is the largest shareholder, holding 1,006,833,333 shares, or 49.95% of the total issued shares. Lembaga Tabung Haji holds 146,950,000 shares, representing 7.29%. A pledged securities account with CIMB Group Nominees (Asing) Sdn Bhd for Vijay Vijendra Sethu holds 81,250,000 shares, representing 4.03%.LGB Group Sdn Bhd 是最大股东，持有 1,006,833,333 股，占已发行普通股的 49.95%。Lembaga Tabung Haji 持有 146,950,000 股，占 7.29%。CIMB Group Nominees (Asing) Sdn Bhd 为 Vijay Vijendra Sethu 开设的抵押证券账户持有 81,250,000 股，占 4.03%。
Source: annual report 2025, page 310.出处：2025 年年报第 310 页。
Dato' Ronnie Lim Yew Boon retired as Executive Director after 17 years of service, and Kevin Chin Soong Jin was appointed Executive Director on 1 March 2024. Ahmad Jauhari Bin Yahya and Lim Chin Sean retired from the Board on 13 June 2024. Datin Irene Lim Ai Ling was appointed Non-Independent Non-Executive Director on 15 August 2024. She is the younger sister of Dato' Lim Chee Meng and the elder sister of Lim Chin Sean, who are major shareholders of the Company.Dato' Ronnie Lim Yew Boon 在服务 17 年后卸任执行董事，Kevin Chin Soong Jin 于 2024 年 3 月 1 日获委任为执行董事。Ahmad Jauhari Bin Yahya 和 Lim Chin Sean 于 2024 年 6 月 13 日从董事会退休。Datin Irene Lim Ai Ling 于 2024 年 8 月 15 日获委任为非独立非执行董事。她是公司主要股东 Dato' Lim Chee Meng 的妹妹以及 Lim Chin Sean 的姐姐。
Source: annual report 2023, page 26; annual report 2024, pages 4, 65; annual report 2025, page 67.出处：2023 年年报第 26 页；2024 年年报第 4、65 页；2025 年年报第 67 页。
Revenue by segment, 20252025 年各部门营业额占比
Source: annual report 2025, page 33.出处：2025 年年报第 33 页。
Major events大事记
Source: annual report 2023, pages 38, 273.出处：2023 年年报第 38、273 页。
Source: annual report 2024, pages 18, 51, 247.出处：2024 年年报第 18、51、247 页。
Source: annual report 2024, page 18.出处：2024 年年报第 18 页。
Source: annual report 2025, pages 39, 285.出处：2025 年年报第 39、285 页。
Source: annual report 2025, pages 33, 42.出处：2025 年年报第 33、42 页。
Revenue and profit营业额与盈利
Assets, equity and borrowings资产、权益与借款
20232023 年
In 2023, the Group redeemed RM30.00 million of Islamic Medium-Term Notes and drew down a RM5.00 million revolving credit. Dividends paid to shareholders totaled RM133,044,000. The report cites lower government compensation of RM13.83 million (2022: RM21.91 million). The Group completed the disposal of a parcel of land and building in Langkawi for RM2.5 million, recognising a gain of RM1,806,000. Dividends received from an associate and a joint venture amounted to RM8.74 million.2023 年，集团赎回了 RM30.00 million 的伊斯兰中期票据，并提取了 RM5.00 million 循环信贷。向股东派发的股息合计 RM133,044,000。年报提及政府赔偿降至 RM13.83 million（2022 年：RM21.91 million）。集团以 RM2.5 million 完成脱售兰卡威的一处地块及建筑物，确认收益 RM1,806,000。从联营公司和合资公司收取的股息为 RM8.74 million。
Source: annual report 2023, pages 29, 31, 32, 33, 220, 245, 273.出处：2023 年年报第 29、31、32、33、220、245、273 页。
20242024 年
In 2024, the Group redeemed RM30.00 million of Islamic Medium-Term Notes, repaid the RM5.00 million revolving credit, and drew RM4,358,000 on corporate credit cards. Dividends paid to shareholders totaled RM100,790,000, while a subsidiary paid RM3,920,000 in dividends to non-controlling interests. Grand Saga recognised RM56.54 million and Grand Sepadu recognised RM39.51 million in government toll compensation. The Group invested RM19.02 million in solar panel replacement projects at TR Sepang and TR Cpark, writing off RM15.13 million of old solar panels, while receiving RM10.67 million in warranty claims.2024 年，集团赎回了 RM30.00 million 的伊斯兰中期票据，偿还了 RM5.00 million 循环信贷，并通过企业信用卡提取了 RM4,358,000。向股东派发的股息合计 RM100,790,000，一家子公司向非控股权益支付股息 RM3,920,000。Grand Saga 确认了 RM56.54 million 大道政府赔偿，Grand Sepadu 确认了 RM39.51 million 大道政府赔偿。集团在 TR Sepang 和 TR Cpark 的太阳能电池板更换项目上投资了 RM19.02 million，报废旧太阳能电池板 RM15.13 million，同时获得 RM10.67 million 的质保索赔。
Source: annual report 2024, pages 30, 51, 53, 194, 198, 247.出处：2024 年年报第 30、51、53、194、198、247 页。
20252025 年
In 2025, the Group redeemed RM40.00 million of Islamic Medium-Term Notes and repaid RM579,000 on corporate credit cards. Dividends paid to shareholders totaled RM40,316,000, and dividends paid by a subsidiary to non-controlling interest were RM10,780,000. Grand Saga recognised RM37.38 million in government toll compensation, while Grand Sepadu recognised RM15.03 million. Flood mitigation works of RM798,000 were completed, and a gain on lease modification of RM2,478,000 was recognised. Dividends received from the joint venture were RM9,000,000 and from associates were RM1,576,000.2025 年，集团赎回了 RM40.00 million 的伊斯兰中期票据，并偿还了企业信用卡 RM579,000。向股东派发的股息合计 RM40,316,000，子公司向非控股权益支付的股息为 RM10,780,000。Grand Saga 确认了 RM37.38 million 大道政府赔偿，Grand Sepadu 确认了 RM15.03 million。完成了 RM798,000 的防洪工程，并确认了 RM2,478,000 的租赁变更收益。从合资公司收取股息 RM9,000,000，从联营公司收取股息 RM1,576,000。
Source: annual report 2025, pages 32, 35, 36, 227, 230, 231, 248, 251, 285.出处：2025 年年报第 32、35、36、227、230、231、248、251、285 页。
Across the three years三年合看
Across the three years, the Group redeemed RM30,000,000 in nominal value of Islamic Medium-Term Notes in 2023, RM30,000,000 in 2024, and RM40,000,000 in 2025. Outstanding Islamic Medium-Term Notes decreased from RM300.0 million at the end of 2023 to RM230.00 million at the end of 2025. Declared dividends per share decreased from 5.95 sen for 2023 to 4.50 sen for 2024 and 2.25 sen for 2025.三年合看，集团于 2023 年赎回面值 RM30,000,000 的伊斯兰中期票据，2024 年赎回 RM30,000,000，2025 年赎回 RM40,000,000。尚未偿还的伊斯兰中期票据从 2023 年底的 RM300.0 million 减少至 2025 年底的 RM230.00 million。每股已宣派股息从 2023 年的 5.95 仙降至 2024 年的 4.50 仙及 2025 年的 2.25 仙。
Source: annual report 2023, pages 43, 57, 273; annual report 2024, pages 53, 247; annual report 2025, pages 46, 58, 285.出处：2023 年年报第 43、57、273 页；2024 年年报第 53、247 页；2025 年年报第 46、58、285 页。
Still to be spent尚未支出的承诺
At the end of 2025, capital commitments authorised and contracted for intangible assets were RM5,415,000, while capital commitments authorised but not contracted for were RM80,221,000 for intangible assets and RM4,871,000 for property, plant and equipment. Capital commitments include RM85,636,000 for the Residual Treatment Facility, out of an estimated total construction cost of RM88,000,000.截至 2025 年底，已获授权并签约的无形资产资本承诺为 RM5,415,000，而已获授权但未签约的资本承诺为无形资产 RM80,221,000 以及物业、厂房及设备 RM4,871,000。资本承诺中包含用于残留物处理设施的 RM85,636,000，该设施预计总建设成本为 RM88,000,000。
Source: annual report 2025, pages 255, 306.出处：2025 年年报第 255、306 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 | 337,712 | 374,704 | 451,398 | 461,867 |
| Profit before tax税前盈利 | 81,874 | 67,066 | 118,264 | 138,015 |
| Profit for the year年度盈利 | 66,430 | 49,453 | 102,534 | 107,387 |
| Total assets总资产 | 1,854,310 | 1,747,924 | 1,690,679 | 1,720,412 |
| Total liabilities总负债 | 806,459 | 784,062 | 728,271 | 700,985 |
| Total equity总权益 | 1,047,851 | 963,862 | 962,408 | 1,019,427 |
| Total borrowings总借款 | 328,907 | 304,215 | 273,831 | 233,449 |
| Lease liabilities租赁负债 | 36,129 | 33,491 | 30,548 | 27,949 |
| Cash and cash equivalents现金与现金等价物 | 48,854 | 82,478 | 99,749 | 79,201 |
| Dividends paid已付股息 | (133,044) | (133,044) | (100,790) | (40,316) |
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 |
|---|---|---|
| To replace solar panels at TR Sepang and TR CPark in 2024 with estimated capital expenditure of RM14,856,000计划于 2024 年更换 TR Sepang 与 TR CPark 的太阳能电池板，预计资本支出为 RM14,856,000 | Completed in 2024 with panel replacement at TR Sepang finished in April and TR CPark in June 2024, at an investment of RM19.02 million.于 2024 年完成，TR Sepang 的电池板更换于 4 月完成，TR CPark 于 2024 年 6 月完成，投资额为 RM19.02 million。 Source: annual report 2023, pages 11, 258; annual report 2024, pages 31, 51.出处：2023 年年报第 11、258 页；2024 年年报第 31、51 页。 | Completed已完成 |
| Rasau Package 2 and Package 3 scheduled for completion by 29 November 2025 and 19 December 2025 under granted extensions根据已获批准的展延，Rasau 第 2 配套和第 3 配套原定于 2025 年 11 月 29 日和 2025 年 12 月 19 日完工 | Physical progress fell behind schedule. Air Selangor approved a second extension of time to 16 November 2026 for Package 2 and 31 March 2027 for Package 3.实际施工进度落后；Air Selangor 批准第二次展延，第 2 配套延至 2026 年 11 月 16 日，第 3 配套延至 2027 年 3 月 31 日。 Source: annual report 2023, page 262; annual report 2024, page 31; annual report 2025, page 33.出处：2023 年年报第 262 页；2024 年年报第 31 页；2025 年年报第 33 页。 | Extended further进一步展延 |
| To construct a mechanical residual treatment facility, expected to be commissioned by 2025自费兴建机械残留物处理设施，预计于 2025 年投产 | The target date was moved to June 2026 at an estimated cost of RM85 million. In 2025, the project was delayed with a new proposal submitted to Air Selangor for a plant expansion and drying bed system, with estimated cost of RM88 million.投产目标后移至 2026 年 6 月，预计成本为 RM85 million；2025 年该项目因向 Air Selangor 提交厂房扩建及干燥床系统新方案而延期，预计成本为 RM88 million。 Source: annual report 2023, page 38; annual report 2024, page 39; annual report 2025, pages 42, 255.出处：2023 年年报第 38 页；2024 年年报第 39 页；2025 年年报第 42、255 页。 | Delayed延期 |
| To introduce the Open Payment Toll Collection System in the second half of 2024 with 3 lanes on Grand Saga and 9 lanes on Grand Sepadu计划于 2024 年下半年引入开放式收费支付系统，Grand Saga 设 3 条车道，Grand Sepadu 设 9 条车道 | Installed at three toll lanes on Grand Saga Highway and operational on a test basis from 14 December 2024.在 Grand Saga 大道的 3 条收费车道安装，并自 2024 年 12 月 14 日起试运行。 Source: annual report 2023, pages 95, 103; annual report 2024, page 41.出处：2023 年年报第 95、103 页；2024 年年报第 41 页。 | Operational on test basis试运行中 |
| To replace Video Message System units along Grand Saga Highway by the second quarter of 2024计划于 2024 年第二季度前更换 Grand Saga 大道沿线的可变情报板单元 | VMS units were replaced in 2024 at a cost of RM0.45 million.可变情报板单元于 2024 年完成更换，耗资 RM0.45 million。 Source: annual report 2023, page 41; annual report 2024, page 41.出处：2023 年年报第 41 页；2024 年年报第 41 页。 | Carried out已执行 |
What the reports leave open年报留下待看的事
- The outcome of the toll restructuring proposal submitted in March 2025 to the Works Ministry, where the government has stipulated that concessionaires should consider a non-increase in toll rates with no government compensation.于 2025 年 3 月向工程部提交的大道重组方案的结果，政府规定特许经营公司应考虑在不增加过路费的情况下不给予政府赔偿。
Source: annual report 2025, page 46.出处：2025 年年报第 46 页。
- Negotiations for the tariff review for the waste management division, which has been deferred since September 2018, with the group hoping for conclusion in 2026.废弃物管理部门自 2018 年 9 月起被推迟的收费审查谈判，集团寄望于 2026 年达成结论。
Source: annual report 2025, pages 59, 64.出处：2025 年年报第 59、64 页。
- Progress on the Rasau Projects towards the extended completion dates of 16 November 2026 for Package 2 and 31 March 2027 for Package 3, where physical progress at the end of 2025 was 46.8% (4.1% behind schedule) and 31.1% (5.0% behind schedule) respectively.Rasau 项目朝向展延后完工日期的进展（第 2 配套为 2026 年 11 月 16 日，第 3 配套为 2027 年 3 月 31 日），截至 2025 年底实际施工进度分别为 46.8%（落后进度 4.1%）和 31.1%（落后进度 5.0%）。
Source: annual report 2025, pages 33, 51.出处：2025 年年报第 33、51 页。
- The progress of engagements with Air Selangor on the proposed alternative plant expansion and drying bed system for the RM88 million Residual Treatment Facility.就成本 RM88 million 的残留物处理设施向 Air Selangor 提出的替代厂房扩建及干燥床系统方案的沟通进展。
Source: annual report 2025, page 42.出处：2025 年年报第 42 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。