DailySpaceSAM Engineering & Equipment (M) Berhad
9822 · Main Market主板（Main Market） · annual reports 2024 to 2026, 1682 entries read2024 至 2026 年报，共读出 1682 条
The company这家公司
SAM Engineering & Equipment (M) Berhad operates in two business segments: Aerospace and Equipment. Aerospace manufactures aircraft components, other aircraft-related equipment parts, spares, and precision engineering parts. Equipment designs and assembles modular equipment and manufactures precision engineering parts, serving semiconductor and data storage customers.SAM Engineering & Equipment (M) Berhad 经营两大业务部门：航空航天与设备。航空航天业务制造飞机零部件、其他飞机相关设备零件、备件及精密工程零件。设备业务设计并组装模块化设备，制造精密工程零件，服务半导体及数据存储客户。
Source: annual report 2024, page 149; annual report 2025, pages 21, 25.出处：2024 年年报第 149 页；2025 年年报第 21、25 页。
In FY2026, the Equipment business recorded revenue of RM895.3 million and the Aerospace business recorded RM545.4 million, compared to RM956.3 million and RM524.2 million in FY2025, and RM1,066.1 million and RM431.3 million in FY2024. Total group revenue was RM1,497.4 million in FY2024, RM1,480.5 million in FY2025, and RM1,440.7 million in FY2026.2026 财政年度，设备业务录得营业额 RM895.3 million，航空航天业务录得 RM545.4 million；2025 财政年度分别为 RM956.3 million 与 RM524.2 million，2024 财政年度分别为 RM1,066.1 million 与 RM431.3 million。集团总营业额在 2024 财政年度为 RM1,497.4 million，2025 财政年度为 RM1,480.5 million，2026 财政年度为 RM1,440.7 million。
Source: annual report 2024, page 25; annual report 2025, page 21; annual report 2026, page 25.出处：2024 年年报第 25 页；2025 年年报第 21 页；2026 年年报第 25 页。
In FY2026, four major customers accounted for revenue of RM448.4 million (Customer A in Equipment), RM249.3 million (Customer B in Aerospace), RM207.1 million (Customer C in Equipment), and RM191.9 million (Customer D in Aerospace).2026 财政年度，四大主要客户的营业额分别为 RM448.4 million（设备业务客户 A）、RM249.3 million（航空航天业务客户 B）、RM207.1 million（设备业务客户 C）及 RM191.9 million（航空航天业务客户 D）。
Source: annual report 2026, pages 172, 184, 185.出处：2026 年年报第 172、184、185 页。
Singapore Aerospace Manufacturing Pte. Ltd. is the controlling shareholder, holding 373,995,072 shares (55.24%), held through Affin Hwang Nominees (Asing) Sdn Bhd DBS Vickers Secs (S) Pte Ltd. The company is an indirect subsidiary of Temasek Holdings (Private) Limited via Accuron Technologies Limited. Employees Provident Fund Board held 38,745,100 shares (5.72%) in the 2025 report.Singapore Aerospace Manufacturing Pte. Ltd. 为控股股东，通过 Affin Hwang Nominees (Asing) Sdn Bhd DBS Vickers Secs (S) Pte Ltd 持有 373,995,072 股（55.24%）。本公司是 Temasek Holdings (Private) Limited 通过 Accuron Technologies Limited 间接持有的子公司。在 2025 年报中，Employees Provident Fund Board 持有 38,745,100 股（5.72%）。
Source: annual report 2024, page 102; annual report 2025, pages 206, 208; annual report 2026, page 212.出处：2024 年年报第 102 页；2025 年年报第 206、208 页；2026 年年报第 212 页。
Mr. Peter Lim Hee Seng served as Chief Executive Officer and Executive Director until 1 April 2025, when he was redesignated as Non-Independent Non-Executive Director; he retired from the board on 20 August 2025. Mr. Ng Boon Keat was appointed Chief Executive Officer and Executive Director on 1 April 2025. Ms. Lim Bee Vian joined the board on 1 April 2025, and Mr. Chan Tai Heng, Jeremy was appointed Non-Independent Non-Executive Director on 18 December 2025.Mr. Peter Lim Hee Seng 担任首席执行员兼执行董事至 2025 年 4 月 1 日，随后调任非独立非执行董事，并于 2025 年 8 月 20 日从董事会退休。Mr. Ng Boon Keat 于 2025 年 4 月 1 日接任首席执行员兼执行董事。Ms. Lim Bee Vian 于 2025 年 4 月 1 日加入董事会，Mr. Chan Tai Heng, Jeremy 于 2025 年 12 月 18 日获委任为非独立非执行董事。
Source: annual report 2025, page 90; annual report 2026, pages 90, 92, 117.出处：2025 年年报第 90 页；2026 年年报第 90、92、117 页。
Revenue by segment, FY20262026 财政年度各业务部门营业额
Source: annual report 2026, page 182.出处：2026 年年报第 182 页。
Major events大事记
Source: annual report 2024, pages 25, 134, 185.出处：2024 年年报第 25、134、185 页。
Source: annual report 2024, page 99.出处：2024 年年报第 99 页。
Source: annual report 2024, pages 18, 80.出处：2024 年年报第 18、80 页。
Source: annual report 2025, page 25.出处：2025 年年报第 25 页。
Source: annual report 2025, page 90.出处：2025 年年报第 90 页。
Source: annual report 2026, page 29.出处：2026 年年报第 29 页。
Source: annual report 2026, pages 28, 29.出处：2026 年年报第 28、29 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Assets, liabilities and borrowings资产、负债与借款
20242024 年
In FY2024, the group generated net cash from operating activities of RM238.3 million. The company raised RM487.4 million (RM487,430,485) by issuing 135,397,357 rights shares at RM3.60 per share. Investing cash outflow of RM286.9 million included RM191.4 million for the acquisition of Aviatron (M) Sdn Bhd (net of cash acquired; total purchase consideration RM202,231,000) and purchase of property, plant and equipment of RM93.9 million, alongside capital expenditure of RM96.3 million mainly for expansion in Thailand. Financing cash flows included repaying a loan of RM197.8 million to the immediate holding company, net repayment of other borrowings of RM176.0 million, and dividends paid of RM13.5 million. Total borrowings fell from RM479.5 million to RM297.5 million, and cash and cash equivalents rose to RM36.2 million.2024 财政年度，集团营运活动产生现金净额 RM238.3 million。公司通过以每股 RM3.60 配发 135,397,357 股附加股筹集 RM487.4 million（RM487,430,485）。投资现金流出 RM286.9 million，主要用于收购 Aviatron (M) Sdn Bhd 的 RM191.4 million（已扣除所购现金；总收购对价为 RM202,231,000）及购买物业、厂房及设备 RM93.9 million，资本开销达 RM96.3 million，主要用于泰国扩张。融资现金流包括偿还直接控股公司贷款 RM197.8 million、净偿还其他借款 RM176.0 million 以及支付股息 RM13.5 million。总借款由 RM479.5 million 降至 RM297.5 million，现金与现金等价物增至 RM36.2 million。
Source: annual report 2024, pages 25, 27, 99, 117, 118, 134.出处：2024 年年报第 25、27、99、117、118、134 页。
20252025 年
In FY2025, net cash generated from operating activities was RM171.4 million. The group invested RM70.2 million primarily for expansion in Thailand, with purchase of property, plant and equipment using RM69.2 million. Financing cash outflow of RM89.7 million included net repayment of bank borrowings of RM44.5 million (term loan drawings of RM95.0 million offset by repayment of other borrowings of RM139.5 million), dividend payments of RM22.3 million, and interest payments of RM15.9 million. The purchase price allocation for Aviatron was completed within twelve months, finalising goodwill at RM42,586,000 against the provisional RM81,408,000. Total borrowings decreased to RM253.0 million, and cash and cash equivalents ended at RM28.0 million.2025 财政年度，营运活动所得现金净额为 RM171.4 million。集团投资 RM70.2 million 主要用于泰国扩张，购买物业、厂房及设备支出 RM69.2 million。融资现金流出 RM89.7 million，主要包括净偿还银行借款 RM44.5 million（提取定期贷款 RM95.0 million，抵销偿还其他借款 RM139.5 million）、支付股息 RM22.3 million 及支付利息 RM15.9 million。对 Aviatron 的收购对价分摊于十二个月内完成，商誉由暂定的 RM81,408,000 最终确认为 RM42,586,000。总借款降至 RM253.0 million，现金与现金等价物结余为 RM28.0 million。
Source: annual report 2025, pages 21, 23, 127, 128, 197, 198.出处：2025 年年报第 21、23、127、128、197、198 页。
20262026 年
In FY2026, net cash from operating activities dropped to RM98.1 million. The group invested RM103.1 million, mainly to support relocating casing operations from Singapore to Thailand and continuing Thailand expansion, with purchase of property, plant and equipment using RM100.5 million. Net financing cash inflow was RM5.7 million, with net drawdown of bank borrowings of RM45.1 million (drawdown of other borrowings of RM79.2 million offset by term loan repayments of RM34.1 million), while paying dividends of RM19.0 million and interest of RM14.8 million. Total borrowings rose to RM271.5 million, and cash and cash equivalents fell to RM24.6 million.2026 财政年度，营运活动所得现金净额降至 RM98.1 million。集团投资 RM103.1 million，主要用于支持套管业务由新加坡迁至泰国以及继续推进泰国扩张，购买物业、厂房及设备支出 RM100.5 million。融资现金净流入 RM5.7 million，其中净提取银行借款 RM45.1 million（提取其他借款 RM79.2 million，抵销偿还定期贷款 RM34.1 million），同时支付股息 RM19.0 million 及利息 RM14.8 million。总借款升至 RM271.5 million，现金与现金等价物降至 RM24.6 million。
Source: annual report 2026, pages 25, 27, 135, 136.出处：2026 年年报第 25、27、135、136 页。
Across the three years三年合看
Across the three years, the group funded capital expenditure and facility expansions in Thailand while completing and integrating the acquisition of Aviatron. Total borrowings stood at RM479.5 million as at 31 March 2023, RM297.5 million as at 31 March 2024, RM253.0 million as at 31 March 2025, and RM271.5 million as at 31 March 2026. Dividends paid were RM13.5 million in FY2024 (2.50 sen per share for FY2023), RM22.3 million in FY2025 (3.30 sen per share for FY2024), and RM19.0 million in FY2026 (2.80 sen per share for FY2025), and a first interim dividend of 1.40 sen per share was declared for FY2026.三年合看，集团为泰国的资本开销与厂房扩张提供资金，同时完成并整合了对 Aviatron 的收购。总借款在 2023 年 3 月 31 日为 RM479.5 million，2024 年 3 月 31 日为 RM297.5 million，2025 年 3 月 31 日为 RM253.0 million，2026 年 3 月 31 日为 RM271.5 million。已付股息在 2024 财政年度为 RM13.5 million（2023 财政年度每股 2.50 仙），2025 财政年度为 RM22.3 million（2024 财政年度每股 3.30 仙），2026 财政年度为 RM19.0 million（2025 财政年度每股 2.80 仙），并为 2026 财政年度宣布了每股 1.40 仙的第一次中期股息。
Source: annual report 2024, pages 27, 102; annual report 2025, pages 23, 112; annual report 2026, pages 27, 28, 120.出处：2024 年年报第 27、102 页；2025 年年报第 23、112 页；2026 年年报第 27、28、120 页。
Still to be spent尚未支出的承诺
Capital commitments for property, plant and equipment contracted but not provided for rose from RM51.5 million at 31 March 2024 to RM63.5 million at 31 March 2025 and RM66.4 million at 31 March 2026. The group projected order book stood at RM5.6 billion at the end of FY2024 and RM5.3 billion at the end of FY2026.尚未支出的承诺方面，已签约但未拨备的物业、厂房及设备资本承诺由 2024 年 3 月 31 日的 RM51.5 million 增至 2025 年 3 月 31 日的 RM63.5 million，再增至 2026 年 3 月 31 日的 RM66.4 million。集团预计订单总额在 2024 财政年度末为 RM5.6 billion，在 2026 财政年度末为 RM5.3 billion。
Source: annual report 2024, pages 25, 162; annual report 2025, page 177; annual report 2026, pages 25, 185.出处：2024 年年报第 25、162 页；2025 年年报第 177 页；2026 年年报第 25、185 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 | 2026 |
|---|---|---|---|---|
| RM'000千令吉 | RM'000千令吉 | RM'000千令吉 | RM'000千令吉 | |
| Revenue营业额 | 1,445,358 | 1,497,400 | 1,480,549 | 1,440,671 |
| Profit before tax税前盈利 | 114,971 | 143,809 | 115,419 | 64,065 |
| Profit for the year年度盈利 | 88,849 | 108,581 | 91,921 | 44,742 |
| Net cash from operating activities营运活动所得现金净额 | (32,436) | 238,313 | 171,389 | 98,126 |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (219,159) | (93,872) | (69,212) | (100,460) |
| Dividends paid已付股息 | (18,949) | (13,540) | (22,341) | (18,956) |
| Total assets总资产 | 1,607,637 | 2,067,216 | 2,010,304 | 1,898,229 |
| Total liabilities总负债 | 792,773 | 633,824 | 584,388 | 572,530 |
| Loans and borrowings贷款与借款 | 479,521 | 297,474 | 252,975 | 271,461 |
| Cash and cash equivalents现金与现金等价物 | 21,045 | 36,244 | 27,982 | 24,609 |
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 |
|---|---|---|
| Finalise the establishment of the Ban Bueng aerospace plant in Thailand and attain qualifications by early 2026 (2024 report)在 2026 年初前完成泰国 Ban Bueng 航空航天厂房的建设并取得各项资质（2024 年报） | Achieved customer certifications in FY2025, completed the third Ban Bueng building, and began volume production of engine cases in January 2026.2025 财政年度取得客户认证，完成 Ban Bueng 第三座建筑，并于 2026 年 1 月开始批量生产发动机机匣。 Source: annual report 2024, page 29; annual report 2025, page 25; annual report 2026, pages 28, 29.出处：2024 年年报第 29 页；2025 年年报第 25 页；2026 年年报第 28、29 页。 | Carried out已执行 |
| Carry out a purchase price allocation exercise within twelve months of the Aviatron acquisition (2024 report)在收购 Aviatron 后的十二个月内进行购买价格分摊评估（2024 年报） | Completed the exercise in FY2025, updating provisional goodwill of RM81,408,000 to final goodwill of RM42,586,000.于 2025 财政年度完成该评估，将暂定商誉 RM81,408,000 更新为最终商誉 RM42,586,000。 Source: annual report 2024, page 181; annual report 2025, pages 197, 198.出处：2024 年年报第 181 页；2025 年年报第 197、198 页。 | Completed within twelve months于十二个月内完成 |
| Scale up small volume production at the Rojana second factory and Ban Bueng facility to mass production (2024 report)将 Rojana 第二厂房及 Ban Bueng 厂房的小批量生产提升至大规模生产（2024 年报） | By FY2025, all three facilities were fully operational and delivering volume production for front-end equipment and data storage systems.截至 2025 财政年度，三家厂房均已全面投入营运，为前端设备和数据存储系统进行批量生产。 Source: annual report 2024, page 29; annual report 2025, page 25.出处：2024 年年报第 29 页；2025 年年报第 25 页。 | Carried out已执行 |
| Evaluating and sourcing manpower to restructure reporting to an integrated reporting style (2024 report)评估并物色人手以将报告重组为整合报告模式（2024 年报） | Studied the integrated reporting framework and decided not to adopt it for the time being in both the 2025 and 2026 reports.在 2025 与 2026 年报中均表示经研究后决定因其他优先事项暂不采纳整合报告框架。 Source: annual report 2024, page 87; annual report 2025, page 99; annual report 2026, page 107.出处：2024 年年报第 87 页；2025 年年报第 99 页；2026 年年报第 107 页。 | Not adopted未采纳 |
| Reduce greenhouse gas emissions intensity by 10% annually over three years (2024 report)在三年内每年将温室气体排放强度降低 10%（2024 年报） | The target was not achieved to date, with emissions intensity increasing in FY2024 and FY2025 due to capacity underutilisation and the Aviatron inclusion.由于泰国扩充产能利用率不足以及纳入 Aviatron，2024 与 2025 财政年度排放强度有所增加，迄今未达成目标。 Source: annual report 2024, pages 40, 55; annual report 2025, page 43.出处：2024 年年报第 40、55 页；2025 年年报第 43 页。 | Target not achieved未达成目标 |
What the reports leave open年报留下待看的事
- Delivery against the projected order book of RM5.3 billion, with RM66.4 million of capital commitments for property, plant and equipment contracted but not provided for.RM5.3 billion 预计订单的交付情况；另有 RM66.4 million 已签约但未拨备的物业、厂房及设备资本承诺。
Source: annual report 2026, pages 25, 185.出处：2026 年年报第 25、185 页。
- Whether the Aerospace business recovers from its loss before tax of RM13.1 million in FY2026 following the relocation of casing operations to Thailand.在套管业务迁至泰国后，航空航天业务能否从 2026 财政年度 RM13.1 million 的税前亏损中复苏。
Source: annual report 2026, pages 25, 182.出处：2026 年年报第 25、182 页。
- Progress toward generating 10,000 MWh of renewable energy annually by FY2030, which stood at 6,240 MWh in FY2026.迈向 2030 财政年度每年产生 10,000 MWh 可再生能源目标的进展，该数字在 2026 财政年度为 6,240 MWh。
Source: annual report 2026, pages 42, 49.出处：2026 年年报第 42、49 页。
- Striking off of dormant subsidiaries, following the striking off of Meerkat Integrator Sdn. Bhd. on 5 May 2025 and the filing for striking off of Meerkat Technology Pte. Ltd. on 6 May 2026.休眠子公司的注销进展，此前 Meerkat Integrator Sdn. Bhd. 于 2025 年 5 月 5 日被除名，Meerkat Technology Pte. Ltd. 于 2026 年 5 月 6 日申请除名。
Source: annual report 2026, page 155.出处：2026 年年报第 155 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。