Luminor 5UA
SGD 0.027
+0.00% +0.00 Updated 12 Nov 2026, 17:16 SGT
Financials
ANNUAL REPORT 2025
Explore the statements
8 tablesBalance sheets — assets and liabilities
29 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Assets; Current assets | |||||
| Trade and other receivablesMYR’000 | 172,599 | 153,426 | 116,170 | 117,324 | PDF p. 97 |
| Cash and bank balancesMYR’000 | 88,055 | 98,738 | 1,495 | 3,196 | PDF p. 97 |
| Financial assets at fair value through profit or lossMYR’000 | 4,666 | 4,687 | – | – | PDF p. 97 |
| Properties held for saleMYR’000 | 12,480 | 13,737 | – | – | PDF p. 97 |
| Net investment in sub-leasesMYR’000 | 242 | 256 | 242 | 256 | PDF p. 97 |
| Income tax receivablesMYR’000 | 2,297 | 299 | – | – | PDF p. 97 |
| Total current assetsMYR’000 | 280,339 | 271,143 | 117,907 | 120,776 | PDF p. 97 |
| Assets; Non-current assets | |||||
| Property, plant and equipmentMYR’000 | 4,643 | 3,103 | 2,918 | 2,043 | PDF p. 97 |
| Net investment in sub-leasesMYR’000 | 1,177 | 653 | 1,177 | 653 | PDF p. 97 |
| GoodwillMYR’000 | 1,938 | 1,987 | – | – | PDF p. 97 |
| Intangible assetsMYR’000 | 4,335 | 7,380 | – | – | PDF p. 97 |
| Investment in subsidiariesMYR’000 | – | – | 12,906 | 12,660 | PDF p. 97 |
| Deferred tax assetsMYR’000 | 65 | 397 | – | – | PDF p. 97 |
| Total non-current assetsMYR’000 | 12,158 | 13,520 | 17,001 | 15,356 | PDF p. 97 |
| Assets | |||||
| Total assetsMYR’000 | 292,497 | 284,663 | 134,908 | 136,132 | PDF p. 97 |
| Liabilities and equity; Current liabilities | |||||
| Lease liabilitiesMYR’000 | 1,105 | 1,165 | 727 | 769 | PDF p. 97 |
| Trade and other payablesMYR’000 | 93,649 | 71,333 | 78,506 | 75,029 | PDF p. 97 |
| Redeemable preference sharesMYR’000 | 80,119 | 92,947 | – | – | PDF p. 97 |
| Financial guaranteeMYR’000 | – | – | 1,423 | 1,843 | PDF p. 97 |
| Contract liabilitiesMYR’000 | 1,726 | 1,591 | – | – | PDF p. 97 |
| Bank borrowingsMYR’000 | 43,080 | 34,027 | 26,445 | 29,141 | PDF p. 97 |
| Income tax payablesMYR’000 | 21,309 | 21,994 | – | – | PDF p. 97 |
| Total current liabilitiesMYR’000 | 240,988 | 223,057 | 107,101 | 106,782 | PDF p. 97 |
| Liabilities and equity; Non-current liabilities | |||||
| Lease liabilitiesMYR’000 | 4,363 | 1,957 | 3,532 | 1,957 | PDF p. 97 |
| Financial guaranteeMYR’000 | – | – | 47 | 2,322 | PDF p. 97 |
| Deferred tax liabilitiesMYR’000 | 1,144 | 2,627 | – | – | PDF p. 97 |
| Provision for restorationMYR’000 | 323 | 323 | – | – | PDF p. 97 |
| Total non-current liabilitiesMYR’000 | 5,830 | 4,907 | 3,579 | 4,279 | PDF p. 97 |
| Liabilities and equity | |||||
| Total liabilitiesMYR’000 | 246,818 | 227,964 | 110,680 | 111,061 | PDF p. 97 |
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Definitions & sources
Original report: PDF p. 97 ↗
The statements are dated “As at 31 December 2025.”
The accompanying accounting policies and explanatory notes form an integral part of the financial statements. See the equity table on physical page 98 for the continuation of the balance sheets.
Balance sheets — equity and total liabilities and equity
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Equity | |||||
| Share capitalMYR’000 | 20,629 | 20,629 | 20,629 | 20,629 | PDF p. 98 |
| Other reservesMYR’000 | 14,774 | 16,446 | 3,819 | 4,680 | PDF p. 98 |
| Retained earnings/(accumulated losses)MYR’000 | 9,401 | 17,848 | (220) | (238) | PDF p. 98 |
| Equity attributable to owners of the Company, totalMYR’000 | 44,804 | 54,923 | 24,228 | 25,071 | PDF p. 98 |
| Non-controlling interestsMYR’000 | 875 | 1,776 | – | – | PDF p. 98 |
| Total equityMYR’000 | 45,679 | 56,699 | 24,228 | 25,071 | PDF p. 98 |
| Liabilities and equity | |||||
| Total liabilities and equityMYR’000 | 292,497 | 284,663 | 134,908 | 136,132 | PDF p. 98 |
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Definitions & sources
Original report: PDF p. 98 ↗
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Consolidated statement of comprehensive income
31 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income | |||
| RevenueMYR’000 | 49,592 | 43,981 | PDF p. 99 |
| Other income/(losses) | |||
| Fair value loss on financial assets at fair value through profit or lossMYR’000 | – | (2,891) | PDF p. 99 |
| Interest incomeMYR’000 | 2,104 | 1,003 | PDF p. 99 |
| Other incomeMYR’000 | 154 | 655 | PDF p. 99 |
| Income | |||
| Total IncomeMYR’000 | 51,850 | 42,748 | PDF p. 99 |
| Expenses | |||
| Cost of salesMYR’000 | (551) | (848) | PDF p. 99 |
| Depreciation of property, plant and equipmentMYR’000 | (1,350) | (1,728) | PDF p. 99 |
| Amortisation of intangible assetsMYR’000 | (2,979) | (1,588) | PDF p. 99 |
| Commission expenseMYR’000 | (2,928) | (2,820) | PDF p. 99 |
| Foreign exchange gainMYR’000 | 4,354 | 3,480 | PDF p. 99 |
| Interest expenseMYR’000 | (16,476) | (12,887) | PDF p. 99 |
| Impairment losses on trade and other receivables – netMYR’000 | (8,430) | (11,051) | PDF p. 99 |
| Operating expensesMYR’000 | (6,607) | (4,903) | PDF p. 99 |
| Professional feesMYR’000 | (5,282) | (4,256) | PDF p. 99 |
| Staff costsMYR’000 | (15,414) | (12,618) | PDF p. 99 |
| Loss before share of results of associate and income taxMYR’000 | (3,813) | (6,471) | PDF p. 99 |
| Share of results of associate, net of taxMYR’000 | – | 22 | PDF p. 99 |
| Loss before taxMYR’000 | (3,813) | (6,449) | PDF p. 99 |
| Income tax expenseMYR’000 | (5,065) | (4,978) | PDF p. 99 |
| Loss for the financial yearMYR’000 | (8,878) | (11,427) | PDF p. 99 |
| Other comprehensive loss, net of tax; Item that may be reclassified subsequently to profit or loss | |||
| Foreign currency translationMYR’000 | (2,311) | (2,965) | PDF p. 99 |
| Other comprehensive loss, net of tax; Item that will not be reclassified subsequently to profit or loss | |||
| Foreign currency translationMYR’000 | (2) | (53) | PDF p. 99 |
| Other comprehensive loss, net of tax | |||
| Total comprehensive loss for the financial yearMYR’000 | (11,191) | (14,445) | PDF p. 99 |
| Loss attributable to | |||
| Owners of the CompanyMYR’000 | (8,447) | (11,207) | PDF p. 99 |
| Non-controlling interestsMYR’000 | (431) | (220) | PDF p. 99 |
| Loss attributable to subtotal | |||
| SubtotalMYR’000 | (8,878) | (11,427) | PDF p. 99 |
| Total comprehensive loss attributable to | |||
| Owners of the CompanyMYR’000 | (10,758) | (14,172) | PDF p. 99 |
| Non-controlling interestsMYR’000 | (433) | (273) | PDF p. 99 |
| Total comprehensive loss attributable to subtotal | |||
| SubtotalMYR’000 | (11,191) | (14,445) | PDF p. 99 |
| Loss per share | |||
| – BasicMYR cents per share | (5.04) | (6.69) | PDF p. 99 |
| – DilutedMYR cents per share | (5.04) | (6.69) | PDF p. 99 |
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Definitions & sources
Original report: PDF p. 99 ↗
Statement heading states “For the financial year ended 31 December 2025.”
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Earnings per share note
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Earnings per share calculation | |||
| Net loss attributable to owners of the CompanyMYR’000 | (8,447) | (11,207) | PDF p. 173 |
| Number of ordinary shares’000 shares | 167,437 | 167,437 | PDF p. 173 |
| Weighted average number of ordinary shares’000 shares | 167,437 | 167,437 | PDF p. 173 |
| Loss per share | |||
| – BasicMYR cents per share | (5.04) | (6.69) | PDF p. 173 |
| – DilutedMYR cents per share | (5.04) | (6.69) | PDF p. 173 |
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Definitions & sources
Original report: PDF p. 173 ↗
The note states that diluted loss per share excludes the effect of employee share options issued by Funded Here Pte. Ltd. because that effect is anti-dilutive.
The accompanying note text says the calculation is based on data for the Group.
Consolidated statement of comprehensive income
31 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income | |||
| RevenueMYR’000 | 49,592 | 43,981 | PDF p. 99 |
| Other income/(losses) | |||
| Fair value loss on financial assets at fair value through profit or lossMYR’000 | – | (2,891) | PDF p. 99 |
| Interest incomeMYR’000 | 2,104 | 1,003 | PDF p. 99 |
| Other incomeMYR’000 | 154 | 655 | PDF p. 99 |
| Income | |||
| Total IncomeMYR’000 | 51,850 | 42,748 | PDF p. 99 |
| Expenses | |||
| Cost of salesMYR’000 | (551) | (848) | PDF p. 99 |
| Depreciation of property, plant and equipmentMYR’000 | (1,350) | (1,728) | PDF p. 99 |
| Amortisation of intangible assetsMYR’000 | (2,979) | (1,588) | PDF p. 99 |
| Commission expenseMYR’000 | (2,928) | (2,820) | PDF p. 99 |
| Foreign exchange gainMYR’000 | 4,354 | 3,480 | PDF p. 99 |
| Interest expenseMYR’000 | (16,476) | (12,887) | PDF p. 99 |
| Impairment losses on trade and other receivables – netMYR’000 | (8,430) | (11,051) | PDF p. 99 |
| Operating expensesMYR’000 | (6,607) | (4,903) | PDF p. 99 |
| Professional feesMYR’000 | (5,282) | (4,256) | PDF p. 99 |
| Staff costsMYR’000 | (15,414) | (12,618) | PDF p. 99 |
| Income statement | |||
| Loss before share of results of associate and income taxMYR’000 | (3,813) | (6,471) | PDF p. 99 |
| Share of results of associate, net of taxMYR’000 | – | 22 | PDF p. 99 |
| Loss before taxMYR’000 | (3,813) | (6,449) | PDF p. 99 |
| Income tax expenseMYR’000 | (5,065) | (4,978) | PDF p. 99 |
| Loss for the financial yearMYR’000 | (8,878) | (11,427) | PDF p. 99 |
| Other comprehensive loss, net of tax; Item that may be reclassified subsequently to profit or loss | |||
| Foreign currency translationMYR’000 | (2,311) | (2,965) | PDF p. 99 |
| Other comprehensive loss, net of tax; Item that will not be reclassified subsequently to profit or loss | |||
| Foreign currency translationMYR’000 | (2) | (53) | PDF p. 99 |
| Other comprehensive loss, net of tax | |||
| Total comprehensive loss for the financial yearMYR’000 | (11,191) | (14,445) | PDF p. 99 |
| Loss attributable to | |||
| Owners of the CompanyMYR’000 | (8,447) | (11,207) | PDF p. 99 |
| Non-controlling interestsMYR’000 | (431) | (220) | PDF p. 99 |
| Total loss attributableMYR’000 | (8,878) | (11,427) | PDF p. 99 |
| Total comprehensive loss attributable to | |||
| Owners of the CompanyMYR’000 | (10,758) | (14,172) | PDF p. 99 |
| Non-controlling interestsMYR’000 | (433) | (273) | PDF p. 99 |
| Total comprehensive loss attributableMYR’000 | (11,191) | (14,445) | PDF p. 99 |
| Loss per share (MYR cents) | |||
| – BasicMYR cents per share | (5.04) | (6.69) | PDF p. 99 |
| – DilutedMYR cents per share | (5.04) | (6.69) | PDF p. 99 |
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Definitions & sources
Original report: PDF p. 99 ↗
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Statements of changes in equity — Group, 2024 and 2025
18 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group — Share capital | 2025Group — Capital reserve | 2025Group — Merger reserve | 2025Group — Statutory reserve | 2025Group — Other reserve | 2025Group — Translation reserve | 2025Group — Retained earnings | 2025Group — Attributable to owners of the Company | 2025Group — Non-controlling interests | 2025Group — Total | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Group; 2024 opening balance | |||||||||||
| At 1 January 2024MYR’000 | 20,629 | 25,890 | 313 | 5,313 | (21,143) | 9,160 | 29,055 | 69,217 | 1,985 | 71,202 | PDF p. 100 |
| Group; 2024 | |||||||||||
| Loss for the financial yearMYR’000 | – | – | – | – | – | – | (11,207) | (11,207) | (220) | (11,427) | PDF p. 100 |
| Group; 2024; Other comprehensive loss | |||||||||||
| Foreign currency translationMYR’000 | – | – | – | – | – | (2,965) | – | (2,965) | (53) | (3,018) | PDF p. 100 |
| Group; 2024 | |||||||||||
| Total comprehensive loss for the financial yearMYR’000 | – | – | – | – | – | (2,965) | (11,207) | (14,172) | (273) | (14,445) | PDF p. 100 |
| Group; 2024; Transactions with owners | |||||||||||
| Subscription of ordinary shares issued by a subsidiary [Note 13(a)]MYR’000 | – | – | – | – | – | – | – | – | 62 | 62 | PDF p. 100 |
| Acquisition of non-controlling interests without change in control [Note 13(c)]MYR’000 | – | – | – | – | 242 | – | – | 242 | (362) | (120) | PDF p. 100 |
| Changes in equity interest in a subsidiary without loss of control [Note 13(a)]MYR’000 | – | – | – | – | (364) | – | – | (364) | 364 | – | PDF p. 100 |
| Total transactions with ownersMYR’000 | – | – | – | – | (122) | – | – | (122) | 64 | (58) | PDF p. 100 |
| Group; 2024 closing balance | |||||||||||
| At 31 December 2024MYR’000 | 20,629 | 25,890 | 313 | 5,313 | (21,265) | 6,195 | 17,848 | 54,923 | 1,776 | 56,699 | PDF p. 100 |
| Group; 2025 opening balance | |||||||||||
| At 1 January 2025MYR’000 | 20,629 | 25,890 | 313 | 5,313 | (21,265) | 6,195 | 17,848 | 54,923 | 1,776 | 56,699 | PDF p. 101 |
| Group; 2025 | |||||||||||
| Loss for the financial yearMYR’000 | – | – | – | – | – | – | (8,447) | (8,447) | (431) | (8,878) | PDF p. 101 |
| Group; 2025; Other comprehensive loss | |||||||||||
| Foreign currency translationMYR’000 | – | – | – | – | – | (2,311) | – | (2,311) | (2) | (2,313) | PDF p. 101 |
| Group; 2025 | |||||||||||
| Total comprehensive loss for the financial yearMYR’000 | – | – | – | – | – | (2,311) | (8,447) | (10,758) | (433) | (11,191) | PDF p. 101 |
| Group; 2025; Transactions with owners | |||||||||||
| Acquisition of non-controlling interests without change in control [Note 13(c)]MYR’000 | – | – | – | – | 237 | – | – | 237 | (487) | (250) | PDF p. 101 |
| Changes in equity interest in a subsidiary without loss of control [Note 13(a)]MYR’000 | – | – | – | – | 110 | – | – | 110 | 19 | 129 | PDF p. 101 |
| Share-based payment transactions [Note 18]MYR’000 | – | – | – | – | 292 | – | – | 292 | – | 292 | PDF p. 101 |
| Total transactions with ownersMYR’000 | – | – | – | – | 639 | – | – | 639 | (468) | 171 | PDF p. 101 |
| Group; 2025 closing balance | |||||||||||
| At 31 December 2025MYR’000 | 20,629 | 25,890 | 313 | 5,313 | (20,626) | 3,884 | 9,401 | 44,804 | 875 | 45,679 | PDF p. 101 |
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Definitions & sources
Original report: PDF p. 100 ↗ PDF p. 101 ↗
The printed statement presents columns for Share capital, Capital reserve, Merger reserve, Statutory reserve, Other reserve, Translation reserve, Retained earnings, Attributable to owners of the Company, Non-controlling interests, and Total. The statement's full column headings and MYR’000 units are printed on physical page 100 and continue on physical page 101.
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Consolidated cash flow statement
50 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Operating activities | |||
| Loss before taxMYR’000 | (3,813) | (6,449) | PDF p. 103 |
| Operating activities; Adjustments for | |||
| Bargain purchase on step acquisition of a subsidiaryMYR’000 | – | (557) | PDF p. 103 |
| Fair value loss on remeasurement of investment in associateMYR’000 | – | 57 | PDF p. 103 |
| Depreciation of property, plant and equipmentMYR’000 | 1,350 | 1,728 | PDF p. 103 |
| Amortisation of intangible assetsMYR’000 | 2,979 | 1,588 | PDF p. 103 |
| Interest incomeMYR’000 | (2,104) | (1,003) | PDF p. 103 |
| Interest expense on othersMYR’000 | 16,287 | 12,709 | PDF p. 103 |
| Interest expense on lease liabilitiesMYR’000 | 189 | 178 | PDF p. 103 |
| Impairment losses on trade and other receivables – netMYR’000 | 8,430 | 11,051 | PDF p. 103 |
| Write off of property, plant and equipmentMYR’000 | – | 1 | PDF p. 103 |
| Share of results of associateMYR’000 | – | (22) | PDF p. 103 |
| Share-based payment transactionsMYR’000 | 292 | – | PDF p. 103 |
| Fair value loss on financial assets at fair value through profit or lossMYR’000 | – | 2,891 | PDF p. 103 |
| Unrealised foreign exchange gainMYR’000 | (731) | (1,035) | PDF p. 103 |
| Operating activities | |||
| Operating cash flows before changes in working capitalMYR’000 | 22,879 | 21,137 | PDF p. 103 |
| Operating activities; Changes in working capital | |||
| Decrease in properties held for saleMYR’000 | 537 | 811 | PDF p. 103 |
| Increase in trade and other receivablesMYR’000 | (27,921) | (68,527) | PDF p. 103 |
| Increase in trade and other payablesMYR’000 | 6,697 | 51 | PDF p. 103 |
| Increase in contract liabilitiesMYR’000 | 137 | 579 | PDF p. 103 |
| Currency translation adjustmentMYR’000 | (3,871) | (3,079) | PDF p. 103 |
| Operating activities | |||
| Cash used in operationsMYR’000 | (1,542) | (49,028) | PDF p. 103 |
| Interest receivedMYR’000 | 2,104 | 1,003 | PDF p. 103 |
| Interest paid on other liabilitiesMYR’000 | (11,448) | (7,402) | PDF p. 103 |
| Interest paid on lease liabilitiesMYR’000 | (189) | (178) | PDF p. 103 |
| Interest paid on bank borrowingsMYR’000 | (2,237) | (1,930) | PDF p. 103 |
| Income tax paidMYR’000 | (7,636) | (4,903) | PDF p. 103 |
| Net cash used in operating activitiesMYR’000 | (20,948) | (62,438) | PDF p. 103 |
| Investing activities | |||
| Purchase of intangible assetsMYR’000 | (91) | (4,265) | PDF p. 103 |
| Purchase of property, plant and equipmentMYR’000 | (185) | (195) | PDF p. 103 |
| Lease payment receivedMYR’000 | 242 | 256 | PDF p. 103 |
| Extension fee receivedMYR’000 | 42 | – | PDF p. 103 |
| Step acquisition of a subsidiary, net of cash acquiredMYR’000 | – | 1,309 | PDF p. 103 |
| Net cash generated from/(used in) investing activitiesMYR’000 | 8 | (2,895) | PDF p. 103 |
| Financing activities | |||
| Acquisition of non-controlling interestsMYR’000 | (250) | (120) | PDF p. 104 |
| Advances from former non-controlling interestsMYR’000 | 1,589 | 944 | PDF p. 104 |
| Increased in fixed deposit restricted in use (pledged)MYR’000 | (1,071) | (8,595) | PDF p. 104 |
| Loan from a related partyMYR’000 | 4,901 | – | PDF p. 104 |
| Proceeds from co-fundersMYR’000 | 48,024 | – | PDF p. 104 |
| Proceeds from redeemable preference sharesMYR’000 | 11,300 | 86,000 | PDF p. 104 |
| Proceeds from non-controlling interests for subscription of ordinary shares issued by a subsidiaryMYR’000 | 129 | 62 | PDF p. 104 |
| Referral fees paid for issuance of redeemable preference sharesMYR’000 | (2,326) | (2,540) | PDF p. 104 |
| Repayment of lease liabilitiesMYR’000 | (1,124) | (1,253) | PDF p. 104 |
| Repayment to former non-controlling interestsMYR’000 | – | (1,191) | PDF p. 104 |
| Repayment of redeemable preference sharesMYR’000 | (24,400) | – | PDF p. 104 |
| Drawdown of bank borrowingsMYR’000 | 8,744 | 4,381 | PDF p. 104 |
| Net cash generated from financing activitiesMYR’000 | 10,547 | 77,688 | PDF p. 104 |
| Cash and cash equivalents | |||
| Net (decrease)/increase in cash and cash equivalentsMYR’000 | (10,393) | 12,355 | PDF p. 104 |
| Effect of foreign exchange rate changesMYR’000 | (2,736) | (1,370) | PDF p. 104 |
| Cash and cash equivalents at beginning of the financial yearMYR’000 | 58,500 | 47,515 | PDF p. 104 |
| Cash and cash equivalents at end of the financial yearMYR’000 | 45,371 | 58,500 | PDF p. 104 |
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Definitions & sources
Original report: PDF p. 103 ↗ PDF p. 104 ↗
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
The comparative 2024 cell for “Repayment to co-funders” is blank in the printed row; it is left empty.
Financial highlights
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group | 2022Group | 2023Group | 2024Group | 2025Group | Source |
|---|---|---|---|---|---|---|
| Financial highlights | ||||||
| REVENUEMYR’000 | 17,320 | 21,849 | 30,869 | 43,981 | 49,592 | PDF p. 11 |
| NET PROFIT/(LOSS) AFTER TAXMYR’000 | 6,750 | 635 | (3,710) | (11,427) | (8,878) | PDF p. 11 |
| SHAREHOLDERS’ EQUITYMYR’000 | 73,036 | 65,822 | 71,202 | 56,699 | 45,679 | PDF p. 11 |
| EARNINGS/(LOSS) PER SHAREMYR CENTS | 5.01 | 0.18 | (2.56) | (6.69) | (5.04) | PDF p. 11 |
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Definitions & sources
Original report: PDF p. 11 ↗
Where the money comes from
Segment information
By business
Reportable segments (SFRS(I) 8) - revenue and results 9 lines
| Item / unit | 2025Financial solutions | 2024Financial solutions | 2025Property | 2024Property | 2025Group | 2024Group | Source |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| External salesMYR'000 | 49,078 | 42,580 | 514 | 1,401 | 49,592 | 43,981 | PDF p. 174 |
| Result | |||||||
| Segment gross contributionMYR'000 | 46,128 | 38,205 | (38) | 554 | 46,090 | 38,759 | PDF p. 174 |
| Other incomeMYR'000 | 130 | 642 | 24 | 13 | 154 | 655 | PDF p. 174 |
| Interest incomeMYR'000 | 1,014 | 895 | 1,090 | 108 | 2,104 | 1,003 | PDF p. 174 |
| Fair value loss on financial assets at fair value through profit or lossMYR'000 | – | (2,891) | – | – | – | (2,891) | PDF p. 174 |
| Interest expenseMYR'000 | (16,476) | (12,887) | – | – | (16,476) | (12,887) | PDF p. 174 |
| Direct expensesMYR'000 | (29,066) | (23,528) | (879) | (1,180) | (29,945) | (24,708) | PDF p. 174 |
| Share of results of associateMYR'000 | – | 22 | – | – | – | 22 | PDF p. 174 |
| Segment net contributionMYR'000 | 1,730 | 458 | 197 | (505) | 1,927 | (47) | PDF p. 174 |
Notes
Corporate expenses, loss before tax, income tax and loss for the year are printed only in Group columns; segment cells are blank (empty strings).
Reportable segments (SFRS(I) 8) (continued) - other items, assets and liabilities 10 lines
| Item / unit | 2025Financial solutions | 2024Financial solutions | 2025Property | 2024Property | 2025Group | 2024Group | Source |
|---|---|---|---|---|---|---|---|
| Other segment items | |||||||
| Amortisation of intangible assetsMYR'000 | (2,979) | (1,588) | – | – | (2,979) | (1,588) | PDF p. 175 |
| Depreciation of property, plant and equipmentMYR'000 | (1,350) | (1,728) | – | – | (1,350) | (1,728) | PDF p. 175 |
| Impairment losses on trade and other receivables, netMYR'000 | (8,430) | (11,051) | – | – | (8,430) | (11,051) | PDF p. 175 |
| Fair value loss on financial assets at fair value through profit or lossMYR'000 | – | (2,891) | – | – | – | (2,891) | PDF p. 175 |
| Fair value loss on remeasurement of investment in associateMYR'000 | – | (57) | – | – | – | (57) | PDF p. 175 |
| Bargain purchase on step acquisition of a subsidiaryMYR'000 | – | 557 | – | – | – | 557 | PDF p. 175 |
| Share of results of associateMYR'000 | – | 22 | – | – | – | 22 | PDF p. 175 |
| Assets | |||||||
| Segment assetsMYR'000 | 228,550 | 215,956 | 57,792 | 61,618 | 286,342 | 277,574 | PDF p. 175 |
| Segment assets includes | |||||||
| Additions to non-current assets*MYR'000 | 3,097 | 4,460 | – | – | 3,097 | 4,460 | PDF p. 175 |
| Liabilities | |||||||
| Segment liabilitiesMYR'000 | 150,287 | 130,185 | 22,442 | 25,099 | 172,729 | 155,284 | PDF p. 175 |
Notes
* Non-current assets additions other than financial instruments and deferred tax assets.
Unallocated/total rows printed only in Group columns; segment cells blank. Unallocated assets and liabilities are those of the Company (holding company).
By geography
Geographical segments by location of customers - Revenue 4 lines
| Item / unit | 2025Revenue | 2024Revenue | Source |
|---|---|---|---|
| Geographical | |||
| SingaporeMYR'000 | 1,815 | 202 | PDF p. 176 |
| People’s Republic of ChinaMYR'000 | 514 | 1,401 | PDF p. 176 |
| MalaysiaMYR'000 | 47,263 | 42,378 | PDF p. 176 |
| TotalMYR'000 | 49,592 | 43,981 | PDF p. 176 |
Notes
Segment revenue is analysed based on the location of customers. One external customer contributed 10% or more of Group revenue (2024: 1), attributable to financial solutions business in Malaysia.
Geographical segments by location of assets - Non-current assets 4 lines
| Item / unit | 2025Non-current assets | 2024Non-current assets | Source |
|---|---|---|---|
| Geographical | |||
| SingaporeMYR'000 | 8,713 | 10,309 | PDF p. 176 |
| People’s Republic of ChinaMYR'000 | 9 | 9 | PDF p. 176 |
| MalaysiaMYR'000 | 2,194 | 2,152 | PDF p. 176 |
| TotalMYR'000 | 10,916 | 12,470 | PDF p. 176 |
Notes
* Non-current assets presented are those on the consolidated balance sheets excluding deferred tax assets and net investment in sub-leases. Analysed by location of the assets.
Debt
Borrowings
Liquidity risk maturity profile (undiscounted) - Group
| Item / unit | 2025Within one year, MYR'000 | 2025Within two to five years, MYR'000 | 2025Total, MYR'000 | 2024Within one year, MYR'000 | 2024Within two to five years, MYR'000 | 2024Total, MYR'000 | Source |
|---|---|---|---|---|---|---|---|
| Financial liabilities | |||||||
| Lease liabilitiesMYR'000 | 1,366 | 4,895 | 6,261 | 1,313 | 2,144 | 3,457 | PDF p. 130 |
| Bank borrowingsMYR'000 | 45,772 | – | 45,772 | 36,239 | – | 36,239 | PDF p. 130 |
| Redeemable preference sharesMYR'000 | 84,030 | – | 84,030 | 104,019 | – | 104,019 | PDF p. 130 |
Notes
Based on contractual undiscounted repayment obligations. Redeemable preference shares label wraps over two lines ('Redeemable preference' / 'shares'); quote begins at the second fragment.
Liquidity risk maturity profile (undiscounted) - Company
| Item / unit | 2025Within one year, MYR'000 | 2025Within two to five years, MYR'000 | 2025Total, MYR'000 | 2024Within one year, MYR'000 | 2024Within two to five years, MYR'000 | 2024Total, MYR'000 | Source |
|---|---|---|---|---|---|---|---|
| Financial liabilities | |||||||
| Lease liabilitiesMYR'000 | 923 | 4,008 | 4,931 | 904 | 2,144 | 3,048 | PDF p. 131 |
| Bank borrowingsMYR'000 | 28,164 | – | 28,164 | 31,035 | – | 31,035 | PDF p. 131 |
Notes
Based on contractual undiscounted repayment obligations.
Borrowing notes 1 tables
Bank borrowings (all current)
| Item / unit | 2025Group, MYR'000 | 2024Group, MYR'000 | 2025Company, MYR'000 | 2024Company, MYR'000 | Source |
|---|---|---|---|---|---|
| Current liabilities | |||||
| – Revolving loanMYR'000 | 26,445 | 29,141 | 26,445 | 29,141 | PDF p. 165 |
| – Multi currency trade financingMYR'000 | 13,630 | 4,886 | – | – | PDF p. 165 |
| – Bank overdraftsMYR'000 | 3,005 | – | – | – | PDF p. 165 |
| Total current bank borrowingsMYR'000 | 43,080 | 34,027 | 26,445 | 29,141 | PDF p. 165 |
Notes
Subtotal row is unlabelled in source; label descriptive. All bank borrowings are presented under current liabilities; no non-current borrowings or secured/unsecured split printed in the table.
Revolving loan: from a licensed bank of US$6.5 million (equivalent to MYR26.4 million), fully backed by a Standby Letter of Credit (SBLC), to which a subsidiary corporation has pledged a cash deposit of RMB50 million (equivalent to MYR29.0 million) as disclosed in Note 7. Maturity is one year from first drawdown date or one month prior to the maturity date stated in facility letter, whichever is earlier.
Bank borrowings in Note 15 reconciliation (MYR40,075k at 31 Dec 2025; 34,027k at 1 Jan 2025) exclude bank overdrafts.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend Policy | The Company does not have a formal dividend policy. The form, frequency and amount of future dividends on the shares will depend on the Company’s level of cash and retained earnings, actual and projected financial performance, projected levels of capital expenditure and other investment plans and restrictions on payment of dividends imposed by financial arrangements (if any). | Company, FY2025 | PDF p. 55 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend recommendation FY2025 | The Company is not recommending any dividend for FY2025. | Company, FY2025 | PDF p. 55 |
Extracted from ANNUAL REPORT 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | Baker Tilly TFW LLP | Group and Company, FY2025 | PDF p. 96 |
| Engagement partner | Lee Chee Sum Gilbert | Group and Company, FY2025 | PDF p. 96 |
| Auditor's report date | 1 April 2026 | Group and Company, FY2025 · As at 2026-04-01 | PDF p. 96 |
| Opinion | true and fair view | Group and Company, year ended 31 December 2025 | PDF p. 92 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Impairment assessment of trade receivables and factoring receivables from the Group’s financial solutions business | The measurement of allowance for ECL of trade and factoring receivables is considered a key audit matter because the carrying amounts of trade and factoring receivables are material to the consolidated financial statements and the assessment of ECL requires significant management’s judgement. | Group, FY2025 | PDF p. 93 |
| Impairment assessment of intangible assets of Funded Here Pte. Ltd.’s Cash Generating Unit (“CGU”) | Goodwill and crowdfunding platform are tested for impairment at least annually, and whenever there is an indication of impairment. | Group, FY2025 | PDF p. 93 |
Extracted from ANNUAL REPORT 2025 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow ANNUAL REPORT 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.