DailySpaceSycal Ventures Berhad
9717 · Main Market主板 · annual reports 2023 to 2025, 809 entries read2023 至 2025 年报，共读出 809 条
The company这家公司
The Group operates as a contractor and property player in Malaysia, providing design and construction of buildings, structures and civil works, property development, and ready-mix concrete manufacturing and trading.集团在马来西亚作为承包商兼房地产参与者营运，提供建筑物、结构及土木工程的设计与施工、房地产开发，以及预拌混凝土制造与贸易业务。
Source: annual report 2023, pages 24, 29; annual report 2025, pages 31, 139.出处：2023 年年报第 24、29 页；2025 年年报第 31、139 页。
In 2025, revenue from external customers was RM39.892 million, comprising manufacturing and trading of RM15.352 million, construction of RM14.016 million, and property development and management of RM10.524 million.2025 年，外部客户营业额为 RM39.892 million，其中制造与贸易占 RM15.352 million，建筑占 RM14.016 million，房地产开发与管理占 RM10.524 million。
Source: annual report 2025, page 31.出处：2025 年年报第 31 页。
In 2025, revenue from a major customer was RM8.919 million, compared with RM28.427 million in 2024, arising from the manufacturing and trading segment. At the end of 2025, one customer accounted for approximately 33% of all outstanding receivables, compared with five customers accounting for approximately 55% in 2024 and approximately 76% in 2023.2025 年，来自单一主要客户的营业额为 RM8.919 million（2024 年为 RM28.427 million），均来自制造与贸易部门。2025 年底，单一客户占全部未结应收账款约 33%，而 2024 年为五家客户占 55%，2023 年为五家客户占 76%。
Source: annual report 2023, page 137; annual report 2025, pages 139, 144.出处：2023 年年报第 137 页；2025 年年报第 139、144 页。
West Emerald Isle Sdn Bhd is the largest shareholder, holding 96,074,868 shares (23.08%) in the 2025 report. Significant holdings in 2025 include Kenanga Nominees (Tempatan) Sdn Bhd pledged securities accounts for Westhill Capital Sdn Bhd (22,968,824 shares, 5.52%) and Fantastic Hallmark Sdn Bhd (22,056,048 shares, 5.30%), and MBSB Investment Nominees (Tempatan) Sdn Bhd pledged securities accounts for Seow Yong Chin (21,974,500 shares, 5.28%) and Waste Environment Services Sdn Bhd (14,967,762 shares, 3.60%).West Emerald Isle Sdn Bhd 为最大股东，在 2025 年报中持有 96,074,868 股（23.08%）。2025 年的大额持股包括 Kenanga Nominees (Tempatan) Sdn Bhd 抵押证券账户持有的 Westhill Capital Sdn Bhd（22,968,824 股，5.52%）和 Fantastic Hallmark Sdn Bhd（22,056,048 股，5.30%），以及 MBSB Investment Nominees (Tempatan) Sdn Bhd 抵押证券账户持有的 Seow Yong Chin（21,974,500 股，5.28%）和 Waste Environment Services Sdn Bhd（14,967,762 股，3.60%）。
Source: annual report 2025, pages 155, 156.出处：2025 年年报第 155、156 页。
None of the directors have any family relationship with any other director or major shareholder of the company. Encik Hamzarul Hazmir Bin Hamdan was appointed as Executive Director on 25 April 2024. Mr Tee Lay Peng was re-designated as Senior Non-Independent Non-Executive Director on 1st October 2025 and will not seek re-election, retiring at the conclusion of the 24th Annual General Meeting.董事之间及与主要股东之间均无任何亲属关系。Encik Hamzarul Hazmir Bin Hamdan 于 2024 年 4 月 25 日获委任为执行董事。Mr Tee Lay Peng 于 2025 年 10 月 1 日调任为高级非独立非执行董事，且将不寻求连任，于第 24 届股东常年大会结束时退任。
Source: annual report 2024, page 10; annual report 2025, pages 9, 12, 21.出处：2024 年年报第 10 页；2025 年年报第 9、12、21 页。
Revenue by segment, 20252025 年各部门营业额
Source: annual report 2025, page 31.出处：2025 年年报第 31 页。
Major events大事记
Source: annual report 2024, page 34.出处：2024 年年报第 34 页。
Source: annual report 2024, page 42; annual report 2025, page 39.出处：2024 年年报第 42 页；2025 年年报第 39 页。
Source: annual report 2024, page 108.出处：2024 年年报第 108 页。
Source: annual report 2024, page 34.出处：2024 年年报第 34 页。
Source: annual report 2025, page 102.出处：2025 年年报第 102 页。
Source: annual report 2025, page 105.出处：2025 年年报第 105 页。
Source: annual report 2025, pages 32, 105.出处：2025 年年报第 32、105 页。
Revenue and profit before tax营业额与税前盈利
Assets, liabilities and equity资产、负债与权益
Loans and borrowings贷款与借款
20232023 年
In FY2023, cash was used for financing activities, including repayment of term loans of RM6,347,000, repayment of lease liabilities of RM2,014,000, and dividends paid to non-controlling interests of RM300,000. Acquisition of property, plant and equipment took RM231,000. Fixed deposits pledged with licensed banks stood at RM3.993 million. Net cash used in financing activities was RM5,292,000, and net decrease in cash and cash equivalents was RM2,256,000. No dividend was recommended or paid by the company.2023 财年，现金主要用于融资活动，包括偿还定期贷款 RM6,347,000、偿还租赁负债 RM2,014,000，以及向非控股权益派发股息 RM300,000。购置物业、厂房及设备支出 RM231,000。抵押予持牌银行的定期存款为 RM3.993 million。融资活动所用现金净额为 RM5,292,000，现金及现金等价物净减少 RM2,256,000。公司未建议或派发股息。
Source: annual report 2023, pages 32, 56, 113.出处：2023 年年报第 32、56、113 页。
20242024 年
In FY2024, Sycal Technology Sdn. Bhd. increased its paid-up capital from RM300,000 to RM2,500,000, and subsidiary Sycal Berhad subscribed for an additional 1,540,000 shares of RM1.00 each. Subsidiary SICC was subjected to a winding-up order for unpaid tax of RM247,281.99. Net cash outflow from deconsolidation was RM63,000, and net gain on deconsolidation was RM14,598,000. Net losses on impairment of financial assets were RM15.521 million, including trade receivables impairment of RM14,550,000 and other receivables impairment of RM971,000. Pledged fixed deposits were RM4.983 million. No dividend was declared or paid.2024 财年，Sycal Technology Sdn. Bhd. 实缴资本从 RM300,000 增至 RM2,500,000，子公司 Sycal Berhad 额外认购了 1,540,000 股每股面值 RM1.00 的股份。子公司 SICC 因欠缴税款 RM247,281.99 被清盘。去整合的净现金流出为 RM63,000，去整合净收益为 RM14,598,000。金融资产减值损失净额为 RM15.521 million，其中包括应收账款减值 RM14,550,000 和其他应收款减值 RM971,000。已抵押定期存款为 RM4.983 million。未宣布或派发股息。
Source: annual report 2024, pages 38, 42, 55, 60, 61, 107, 108, 122.出处：2024 年年报第 38、42、55、60、61、107、108、122 页。
20252025 年
In FY2025, after the Court terminated the winding-up order, SIPSB was reconsolidated with a net cash inflow of RM27,000, and an impairment loss on goodwill of RM13,940,000 was recognised. A net reversal of impairment on financial assets of RM10.843 million was recognised, including a reversal of trade receivables impairment of RM13.611 million and trade receivables impairment of RM2.768 million. The company acquired 3 ordinary shares representing 30% of Samalux Capital Sdn. Bhd. for RM3.00. Cash was used to repay term loans of RM5,528,000, revolving credit of RM1,528,000, and lease liabilities of RM118,000, while RM300,000 was paid to non-controlling interests. Acquisition of property, plant and equipment took RM14,000. No dividend was declared or paid.2025 财年，法院撤销清盘令后，SIPSB 重新纳入合并报表，带来现金净流入 RM27,000，并确认商誉减值损失 RM13,940,000。计入金融资产减值净拨回 RM10.843 million，其中包括应收账款减值拨回 RM13.611 million 和应收账款减值 RM2.768 million。公司以 RM3.00 认购了 Samalux Capital Sdn. Bhd. 3 股普通股（占 30% 股权）。现金用于偿还定期贷款 RM5,528,000、循环信贷 RM1,528,000 及租赁负债 RM118,000，向非控股权益支付股息 RM300,000。购置物业、厂房及设备支出 RM14,000。未宣布或派发股息。
Source: annual report 2025, pages 35, 52, 57, 58, 59, 102, 105, 113, 126.出处：2025 年年报第 35、52、57、58、59、102、105、113、126 页。
Across the three years三年合看
Total loans and borrowings fell across the three years, from RM43.0 million in 2022 to RM36.7 million in 2023, RM32.7 million in 2024, and RM25.1 million in 2025. The gearing ratio fell from 0.100 in 2023 to 0.09 in 2024 and 0.05 in 2025. The company issued no new ordinary shares under its general mandates and paid no dividend to shareholders in any of the three years. Maximum exposure under financial guarantees given for subsidiaries' banking facilities was RM120.821 million in 2023, RM121.331 million in 2024, and RM108.096 million in 2025.三年间贷款与借款总额持续下降，从 2022 年的 RM43.0 million 降至 2023 年的 RM36.7 million、2024 年的 RM32.7 million 及 2025 年的 RM25.1 million。负债比率从 2023 年的 0.100 降至 2024 年的 0.09 及 2025 年的 0.05。公司在三年内均未根据一般授权发行新普通股，也未向股东派发股息。为子公司银行授信提供的财务担保最高风险敞口在 2023 年为 RM120.821 million，2024 年为 RM121.331 million，2025 年为 RM108.096 million。
Source: annual report 2023, pages 5, 28, 32, 138; annual report 2024, pages 8, 38, 148; annual report 2025, pages 8, 35, 144, 152.出处：2023 年年报第 5、28、32、138 页；2024 年年报第 8、38、148 页；2025 年年报第 8、35、144、152 页。
Still to be spent尚未支出的承诺
The Group had been awarded a construction contract of approximately RM74 million, part of total costs of approximately RM110 million, for a 313-room hotel in Greentown, Ipoh by mid-2027, with Samalux partners financing up to RM62 million. A residential development of 998 units in Genting Sempah is planned for the next 3 years with gross development costs of RM330 million and projected gross development value of approximately RM500 million. Unsatisfied performance obligations for construction contracts stood at RM78.395 million, with RM40.414 million expected in 2026 and RM37.981 million in 2027.集团获授一项约 RM74 million 的建筑合约（总成本约 RM110 million 的一部分），用于在 2027 年中前完成怡保 Greentown 的 313 间客房酒店，Samalux 股东将出资最高 RM62 million。未来 3 年计划在云顶森芭（Genting Sempah）开发 998 间公寓住宅项目，预计开发总成本为 RM330 million，总开发价值约 RM500 million。建筑合约未履约义务为 RM78.395 million，其中 2026 年预计确认 RM40.414 million，2027 年预计确认 RM37.981 million。
Source: annual report 2025, pages 32, 105, 115.出处：2025 年年报第 32、105、115 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 | 66,261 | 72,242 | 76,814 | 39,892 |
| Profit before tax税前盈利 | 3,187 | 3,995 | 4,798 | 2,928 |
| Total assets总资产 | 462,973 | 467,188 | 487,018 | 469,726 |
| Total liabilities总负债 | 181,757 | 184,929 | 201,975 | 183,700 |
| Total equity总权益 | 281,216 | 282,259 | 285,043 | 286,026 |
| Loans and borrowings贷款与借款 | 43,023 | 36,682 | 32,725 | 25,069 |
| Loans and borrowings (non-current)非流动贷款与借款 | 26,688 | 23,180 | 26,679 | 17,725 |
| Loans and borrowings (current)流动贷款与借款 | 16,335 | 13,502 | 6,046 | 7,344 |
| Fixed deposits with licensed banks持牌银行定期存款 | 8,129 | 4,755 | 5,764 | 4,732 |
| Cash and bank balances现金与银行结余 | 4,559 | 2,302 | 2,202 | 4,696 |
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 |
|---|---|---|
| Complete construction and hand over units sold in ICC Commercial Suites, Ipoh and Segari, Manjung by end of 2023在 2023 年底前完成怡保 ICC Commercial Suites 与曼绒 Segari 的施工并移交已售单位 | The Segari residential project was completed with CCC in October 2023 whilst the ICC commercial suites project was completed and vacant possession delivered in FY2024.Segari 住宅项目于 2023 年 10 月竣工并取得 CCC，而 ICC 商业套房项目在 2024 财年完工并移交空置占有权。 Source: annual report 2023, page 28; annual report 2024, page 34.出处：2023 年年报第 28 页；2024 年年报第 34 页。 | Completed later than said完工时间迟于预期 |
| Explore joint venture opportunities with potential partners for remaining development projects in Ipoh and Taiping为怡保与太平的剩余开发项目继续与潜在伙伴探索合营机会 | On 13 March 2025, the Company entered into agreements with Samalux and its other shareholders for the completion of a 313-room hotel in Greentown Ipoh, with the 70% shareholders financing up to RM62 million.2025 年 3 月 13 日，公司与 Samalux 及其其他股东签署协议以完成怡保 Greentown 的 313 间客房酒店，持有 70% 股权的股东将融资最高 RM62 million。 Source: annual report 2023, page 28; annual report 2025, page 105.出处：2023 年年报第 28 页；2025 年年报第 105 页。 | Agreement signed协议已签署 |
| Retain Mr Tee Lay Peng as Independent Non-Executive Director留任 Mr Tee Lay Peng 为独立非执行董事 | Re-designated as Senior Non-Independent Non-Executive Director on 1st October 2025 after more than 12 years of service; he will not seek re-election and will retire at the 24th AGM.服务超过 12 年后于 2025 年 10 月 1 日调任为高级非独立非执行董事；他将不寻求连任，于第 24 届股东常年大会结束时退任。 Source: annual report 2023, pages 3, 16; annual report 2025, pages 6, 9, 21.出处：2023 年年报第 3、16 页；2025 年年报第 6、9、21 页。 | Re-designated and retiring已调任并退任 |
| Construction contract revenue expected to be recognised in 2025 from unsatisfied performance obligations of RM16.530 million未履约义务中预计于 2025 年确认的建筑合约营业额为 RM16.530 million | Construction contract revenue recognised in 2025 was RM14.016 million.2025 年实际确认的建筑合约营业额为 RM14.016 million。 Source: annual report 2024, page 118; annual report 2025, pages 31, 124.出处：2024 年年报第 118 页；2025 年年报第 31、124 页。 | RM14.016 million recognised确认 RM14.016 million |
What the reports leave open年报留下待看的事
- Execution of the RM74 million construction contract for the 313-room hotel in Greentown, Ipoh by mid-2027, with Samalux partners financing up to RM62 million.在 2027 年中前执行怡保 Greentown 拥有 313 间客房酒店的约 RM74 million 建筑合约，以及 Samalux 股东出资最高 RM62 million 的进展。
Source: annual report 2025, pages 32, 105.出处：2025 年年报第 32、105 页。
- Progress on the planned 998-unit residential apartment development in Genting Sempah over the next 3 years, with gross development costs of RM330 million and projected gross development value of approximately RM500 million.未来 3 年在云顶森芭规划的 998 间公寓住宅项目进展，预计开发总成本为 RM330 million，总开发价值约 RM500 million。
Source: annual report 2025, page 32.出处：2025 年年报第 32 页。
- Recovery of ready-mix concrete operations where Model 1 projects were delayed and Model 2 projects were at their initial stage in 2025, resulting in lower Manufacturing & Trading Revenue for FYE2025 compared to FYE2024.预拌混凝土业务的复苏情况，2025 年该业务因模式一项目延误且模式二项目处于初期阶段，导致制造与贸易营业额较 2024 财年减少。
Source: annual report 2025, page 31.出处：2025 年年报第 31 页。
- Settlement of tax liabilities, with tax payable standing at RM17.033 million at 30 June 2025 (2024: RM19.346 million) against unutilised tax losses of RM6.165 million.税务负债的结清情况，截至 2025 年 6 月 30 日应付税款为 RM17.033 million（2024 年为 RM19.346 million），对比未利用税收亏损为 RM6.165 million。
Source: annual report 2025, pages 69, 128.出处：2025 年年报第 69、128 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。