Riverstone AP4
Financials
ANNUAL REPORT 2025
Explore the statements
15 tablesConsolidated Statement of Comprehensive Income
23 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income statement | |||
| RevenueRM’000 | 995,314 | 1,072,833 | PDF p. 51 |
| Cost of salesRM’000 | (696,626) | (682,744) | PDF p. 51 |
| Gross profitRM’000 | 298,688 | 390,089 | PDF p. 51 |
| Other incomeRM’000 | 20,386 | 28,440 | PDF p. 51 |
| Selling and distribution expensesRM’000 | (15,244) | (16,658) | PDF p. 51 |
| General and administrative expensesRM’000 | (34,729) | (37,492) | PDF p. 51 |
| Other operating expensesRM’000 | (4,606) | (5,645) | PDF p. 51 |
| Operating profitRM’000 | 264,495 | 358,734 | PDF p. 51 |
| Finance costsRM’000 | (20) | (47) | PDF p. 51 |
| Profit before taxationRM’000 | 264,475 | 358,687 | PDF p. 51 |
| Income tax expenseRM’000 | (56,701) | (71,755) | PDF p. 51 |
| Profit for the yearRM’000 | 207,774 | 286,932 | PDF p. 51 |
| Other comprehensive income | |||
| Foreign currency translation lossRM’000 | (12,530) | (28,469) | PDF p. 51 |
| Other comprehensive income for the yearRM’000 | (12,530) | (28,469) | PDF p. 51 |
| Total comprehensive income for the yearRM’000 | 195,244 | 258,463 | PDF p. 51 |
| Profit attributable to | |||
| Equity holders of the CompanyRM’000 | 207,774 | 286,932 | PDF p. 51 |
| Non-controlling interestsRM’000 | – | – | PDF p. 51 |
| SubtotalRM’000 | 207,774 | 286,932 | PDF p. 51 |
| Total comprehensive income attributable to | |||
| Equity holders of the CompanyRM’000 | 195,244 | 258,463 | PDF p. 51 |
| Non-controlling interestsRM’000 | – | – | PDF p. 51 |
| SubtotalRM’000 | 195,244 | 258,463 | PDF p. 51 |
| Earnings per share | |||
| Basic (sen)sen per share | 14.02 | 19.36 | PDF p. 51 |
| Diluted (sen)sen per share | 14.02 | 19.36 | PDF p. 51 |
Definitions & sources
Original report: PDF p. 51 ↗
(1) Denotes amounts less than RM500. The note marker (1) adjacent to the dash in the non-controlling-interest attribution rows is retained in the exact row quote; the cell literal is the printed dash.
Statements of Financial Position
31 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Property, plant and equipmentRM’000 | 750,578 | 777,559 | – | – | PDF p. 52 |
| Investment in subsidiariesRM’000 | – | – | 207,382 | 215,685 | PDF p. 52 |
| Deferred tax assetsRM’000 | 720 | 962 | – | – | PDF p. 52 |
| Non-current assets subtotal | |||||
| SubtotalRM’000 | 751,298 | 778,521 | 207,382 | 215,685 | PDF p. 52 |
| Current assets | |||||
| InventoriesRM’000 | 87,329 | 98,243 | – | – | PDF p. 52 |
| Trade receivablesRM’000 | 162,835 | 178,181 | – | – | PDF p. 52 |
| Other receivablesRM’000 | 2,496 | 5,143 | 43 | 2,253 | PDF p. 52 |
| PrepaymentsRM’000 | 3,870 | 4,119 | 60 | 56 | PDF p. 52 |
| DerivativesRM’000 | 1,448 | – | – | – | PDF p. 52 |
| Cash and cash equivalentsRM’000 | 630,350 | 715,061 | 217,880 | 311,929 | PDF p. 52 |
| Current assets subtotal | |||||
| SubtotalRM’000 | 888,328 | 1,000,747 | 217,983 | 314,238 | PDF p. 52 |
| Total assets | |||||
| Total assetsRM’000 | 1,639,626 | 1,779,268 | 425,365 | 529,923 | PDF p. 52 |
| Current liabilities | |||||
| Trade and other payablesRM’000 | 86,760 | 123,449 | 730 | 377 | PDF p. 52 |
| Lease liabilitiesRM’000 | – | 494 | – | – | PDF p. 52 |
| DerivativesRM’000 | – | 1,109 | – | – | PDF p. 52 |
| Contract liabilitiesRM’000 | – | 221 | – | – | PDF p. 52 |
| Provision for taxationRM’000 | 9,512 | 8,401 | 740 | 1,724 | PDF p. 52 |
| Current liabilities subtotal | |||||
| SubtotalRM’000 | 96,272 | 133,674 | 1,470 | 2,101 | PDF p. 52 |
| Net current assets | |||||
| Net current assetsRM’000 | 792,056 | 867,073 | 216,513 | 312,137 | PDF p. 52 |
| Non-current liabilities | |||||
| Employee benefit obligationsRM’000 | 1,337 | 993 | – | – | PDF p. 52 |
| Deferred tax liabilitiesRM’000 | 66,310 | 67,705 | – | – | PDF p. 52 |
| Non-current liabilities subtotal | |||||
| SubtotalRM’000 | 67,647 | 68,698 | – | – | PDF p. 52 |
| Total liabilities | |||||
| Total liabilitiesRM’000 | 163,919 | 202,372 | 1,470 | 2,101 | PDF p. 52 |
| Net assets | |||||
| Net assetsRM’000 | 1,475,707 | 1,576,896 | 423,895 | 527,822 | PDF p. 52 |
| Equity attributable to owners of the Company | |||||
| Share capitalRM’000 | 156,337 | 156,337 | 156,337 | 156,337 | PDF p. 52 |
| Treasury sharesRM’000 | (815) | (815) | (815) | (815) | PDF p. 52 |
| ReservesRM’000 | 1,320,182 | 1,421,371 | 268,373 | 372,300 | PDF p. 52 |
| SubtotalRM’000 | 1,475,704 | 1,576,893 | 423,895 | 527,822 | PDF p. 52 |
| Equity | |||||
| Non-controlling interestsRM’000 | 3 | 3 | – | – | PDF p. 52 |
| Total equityRM’000 | 1,475,707 | 1,576,896 | 423,895 | 527,822 | PDF p. 52 |
| Total equity and liabilities | |||||
| Total equity and liabilitiesRM’000 | 1,639,626 | 1,779,268 | 425,365 | 529,923 | PDF p. 52 |
Definitions & sources
Original report: PDF p. 52 ↗
The source presents Group and Company columns for 2025 and 2024 in one statement.
Statements of Changes in Equity — Group FY2024
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024GroupShare capital | 2024GroupTreasury shares | 2024GroupRetained earnings | 2024GroupOther reserves | 2024GroupTotal reserves | 2024GroupNon-controlling interests | 2024GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|
| Equity balances | ||||||||
| As at 1 January 2024RM’000 | 156,337 | (815) | 1,535,039 | (9,000) | 1,526,039 | 3 | 1,681,564 | PDF p. 53 |
| Movements in equity | ||||||||
| Profit for the yearRM’000 | – | – | 286,932 | – | 286,932 | – | 286,932 | PDF p. 53 |
| Other comprehensive income for the yearRM’000 | – | – | – | (28,469) | (28,469) | – | (28,469) | PDF p. 53 |
| Total comprehensive income for the yearRM’000 | – | – | 286,932 | (28,469) | 258,463 | – | 258,463 | PDF p. 53 |
| Dividends (Note 22)RM’000 | – | – | (363,131) | – | (363,131) | – | (363,131) | PDF p. 53 |
| Equity balances | ||||||||
| As at 31 December 2024RM’000 | 156,337 | (815) | 1,458,840 | (37,469) | 1,421,371 | 3 | 1,576,896 | PDF p. 53 |
Definitions & sources
Original report: PDF p. 53 ↗
Source table spans 2024 and 2025; this table is one complete year block. Group/Company scope and component order follow the page header. Superscript (1) beside printed dash is preserved in quote; cell literal is the dash.
Statements of Changes in Equity — Group FY2025
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025GroupShare capital | 2025GroupTreasury shares | 2025GroupRetained earnings | 2025GroupOther reserves | 2025GroupTotal reserves | 2025GroupNon-controlling interests | 2025GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|
| Equity balances | ||||||||
| As at 1 January 2025RM’000 | 156,337 | (815) | 1,458,840 | (37,469) | 1,421,371 | 3 | 1,576,896 | PDF p. 53 |
| Movements in equity | ||||||||
| Profit for the yearRM’000 | – | – | 207,774 | – | 207,774 | – | 207,774 | PDF p. 53 |
| Other comprehensive income for the yearRM’000 | – | – | – | (12,530) | (12,530) | – | (12,530) | PDF p. 53 |
| Total comprehensive income for the yearRM’000 | – | – | 207,774 | (12,530) | 195,244 | – | 195,244 | PDF p. 53 |
| Dividends (Note 22)RM’000 | – | – | (296,433) | – | (296,433) | – | (296,433) | PDF p. 53 |
| Equity balances | ||||||||
| As at 31 December 2025RM’000 | 156,337 | (815) | 1,370,181 | (49,999) | 1,320,182 | 3 | 1,475,707 | PDF p. 53 |
Definitions & sources
Original report: PDF p. 53 ↗
Source table spans 2024 and 2025; this table is one complete year block. Group/Company scope and component order follow the page header. Superscript (1) beside printed dash is preserved in quote; cell literal is the dash.
Statements of Changes in Equity — Company FY2024
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024CompanyShare capital | 2024CompanyTreasury shares | 2024CompanyRetained earnings | 2024CompanyOther reserves | 2024CompanyTotal reserves | 2024CompanyTotal equity | Source |
|---|---|---|---|---|---|---|---|
| Equity balances | |||||||
| As at 1 January 2024RM’000 | 156,337 | (815) | 381,320 | 96,001 | 477,321 | 632,843 | PDF p. 53 |
| Movements in equity | |||||||
| Profit for the yearRM’000 | – | – | 295,539 | – | 295,539 | 295,539 | PDF p. 53 |
| Other comprehensive income for the yearRM’000 | – | – | – | (37,429) | (37,429) | (37,429) | PDF p. 53 |
| Total comprehensive income for the yearRM’000 | – | – | 295,539 | (37,429) | 258,110 | 258,110 | PDF p. 53 |
| Dividends (Note 22)RM’000 | – | – | (363,131) | – | (363,131) | (363,131) | PDF p. 53 |
| Equity balances | |||||||
| As at 31 December 2024RM’000 | 156,337 | (815) | 313,728 | 58,572 | 372,300 | 527,822 | PDF p. 53 |
Definitions & sources
Original report: PDF p. 53 ↗
Source table spans 2024 and 2025; this table is one complete year block. Group/Company scope and component order follow the page header. Superscript (1) beside printed dash is preserved in quote; cell literal is the dash.
Statements of Changes in Equity — Company FY2025
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025CompanyShare capital | 2025CompanyTreasury shares | 2025CompanyRetained earnings | 2025CompanyOther reserves | 2025CompanyTotal reserves | 2025CompanyTotal equity | Source |
|---|---|---|---|---|---|---|---|
| Equity balances | |||||||
| As at 1 January 2025RM’000 | 156,337 | (815) | 313,728 | 58,572 | 372,300 | 527,822 | PDF p. 53 |
| Movements in equity | |||||||
| Profit for the yearRM’000 | – | – | 209,961 | – | 209,961 | 209,961 | PDF p. 53 |
| Other comprehensive income for the yearRM’000 | – | – | – | (17,455) | (17,455) | (17,455) | PDF p. 53 |
| Total comprehensive income for the yearRM’000 | – | – | 209,961 | (17,455) | 192,506 | 192,506 | PDF p. 53 |
| Dividends (Note 22)RM’000 | – | – | (296,433) | – | (296,433) | (296,433) | PDF p. 53 |
| Equity balances | |||||||
| As at 31 December 2025RM’000 | 156,337 | (815) | 227,256 | 41,117 | 268,373 | 423,895 | PDF p. 53 |
Definitions & sources
Original report: PDF p. 53 ↗
Source table spans 2024 and 2025; this table is one complete year block. Group/Company scope and component order follow the page header. Superscript (1) beside printed dash is preserved in quote; cell literal is the dash.
Consolidated Statement of Cash Flows
28 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| Profit before taxationRM’000 | 264,475 | 358,687 | PDF p. 54 |
| Adjustments for | |||
| Depreciation of property, plant and equipmentRM’000 | 71,473 | 64,893 | PDF p. 54 |
| Property, plant and equipment written offRM’000 | 71 | 411 | PDF p. 54 |
| Gain on disposal of property, plant and equipmentRM’000 | (1,660) | (50) | PDF p. 54 |
| Fair value (gain)/loss on derivativesRM’000 | (3,729) | 2,649 | PDF p. 54 |
| Interest expenseRM’000 | 20 | 47 | PDF p. 54 |
| Interest incomeRM’000 | (18,140) | (26,830) | PDF p. 54 |
| Foreign exchange differencesRM’000 | 1,816 | (3,985) | PDF p. 54 |
| Cash flows from operating activities | |||
| Operating cash flows before working capital changesRM’000 | 314,326 | 395,822 | PDF p. 54 |
| Decrease/(increase) in inventoriesRM’000 | 10,914 | (15,060) | PDF p. 54 |
| Decrease/(increase) in receivables and prepaymentsRM’000 | 18,242 | (49,538) | PDF p. 54 |
| Increase in employee benefit obligationsRM’000 | 344 | 63 | PDF p. 54 |
| Increase in trade and other payables and contract liabilitiesRM’000 | 1,105 | 13,957 | PDF p. 54 |
| Cash flows generated from operationsRM’000 | 344,931 | 345,244 | PDF p. 54 |
| Interest receivedRM’000 | 18,140 | 26,830 | PDF p. 54 |
| Income tax paidRM’000 | (56,743) | (65,041) | PDF p. 54 |
| Net cash flows generated from operating activitiesRM’000 | 306,328 | 307,033 | PDF p. 54 |
| Cash flows from investing activities | |||
| Proceeds from disposal of property, plant and equipmentRM’000 | 2,590 | 216 | PDF p. 54 |
| Purchase of property, plant and equipment (Note 14)RM’000 | (83,760) | (79,824) | PDF p. 54 |
| Net cash flows used in investing activitiesRM’000 | (81,170) | (79,608) | PDF p. 54 |
| Cash flows from financing activities | |||
| Payment of principal portion of lease liabilitiesRM’000 | (481) | (486) | PDF p. 54 |
| Dividends paidRM’000 | (296,433) | (363,131) | PDF p. 54 |
| Interest paidRM’000 | 20 | (47) | PDF p. 54 |
| Net cash flows used in financing activitiesRM’000 | (296,934) | (363,664) | PDF p. 54 |
| Cash and cash equivalents | |||
| Net decrease in cash and cash equivalentsRM’000 | (71,776) | (136,239) | PDF p. 54 |
| Effect of foreign currency exchange ratesRM’000 | (12,935) | (24,133) | PDF p. 54 |
| Cash and cash equivalents at beginning of yearRM’000 | 715,061 | 875,433 | PDF p. 54 |
| Cash and cash equivalents at end of year (Note 14)RM’000 | 630,350 | 715,061 | PDF p. 54 |
Definitions & sources
Original report: PDF p. 54 ↗
Group consolidated statement; RM’000; years ended 31 December 2025 and 2024.
Group Financial Highlights
18 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2023Group | 2022Group | 2021Group | Source |
|---|---|---|---|---|---|---|
| For the year | ||||||
| RevenueRM’000 | 995,314 | 1,072,833 | 914,776 | 1,259,515 | 3,082,447 | PDF p. 4 |
| Gross ProfitRM’000 | 298,688 | 390,089 | 295,511 | 450,320 | 1,906,832 | PDF p. 4 |
| Gross Profit Margin% | 30.0 | 36.4 | 32.3 | 35.8 | 61.9 | PDF p. 4 |
| Profit before taxRM’000 | 264,475 | 358,687 | 279,350 | 417,005 | 1,858,589 | PDF p. 4 |
| Net ProfitRM’000 | 207,774 | 286,932 | 220,376 | 314,398 | 1,417,893 | PDF p. 4 |
| Net Profit Margin% | 20.9 | 26.7 | 24.1 | 25.0 | 46.0 | PDF p. 4 |
| Cashflow from operationsRM’000 | 306,327 | 307,033 | 249,109 | 378,447 | 1,569,819 | PDF p. 4 |
| At Year End | ||||||
| Total AssetsRM’000 | 1,639,626 | 1,779,268 | 1,825,361 | 2,019,764 | 2,699,608 | PDF p. 4 |
| Shareholders EquityRM’000 | 1,475,707 | 1,576,896 | 1,681,564 | 1,852,929 | 2,332,457 | PDF p. 4 |
| Cash and Cash EquivalentsRM’000 | 630,350 | 715,061 | 875,433 | 1,066,061 | 1,612,931 | PDF p. 4 |
| Debt *RM’000 | – | – | – | – | 1,000 | PDF p. 4 |
| Debt Equity Ratio% | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | PDF p. 4 |
| Return on Equity% | 14.1 | 18.2 | 13.1 | 17.0 | 60.8 | PDF p. 4 |
| Return on Assets% | 12.7 | 16.1 | 12.1 | 15.6 | 52.5 | PDF p. 4 |
| Per share | ||||||
| Earnings (Basic)**RM sen | 14.0 | 19.4 | 14.9 | 21.2 | 95.7 | PDF p. 4 |
| Earnings (Diluted basis)RM sen | 14.0 | 19.4 | 14.9 | 21.2 | 95.7 | PDF p. 4 |
| Net Tangible AssetRM sen | 99.6 | 106.4 | 113.5 | 125.0 | 157.4 | PDF p. 4 |
| Dividend declared for the financial year***RM sen/share | 17.0 | 24.0 | 22.5 | 34.0 | 48.0 | PDF p. 4 |
Definitions & sources
Original report: PDF p. 4 ↗
Five-year Group Financial Highlights. Page 4's chart panel shows Revenue, Gross Profit, Net Profit and Dividends Declared; complete 5-year tabular summary retained. Footnote: excludes lease liabilities; EPS uses weighted average shares of 1,482.2 million; dividends are one-tier, FY2025 final dividend 5.00 sen subject to AGM approval on 20 April 2026.
Revenue — chart
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group | 2022Group | 2023Group | 2024Group | 2025Group | Source |
|---|---|---|---|---|---|---|
| Group financial highlights charts | ||||||
| RevenueRM’000 | 3,082,447 | 1,259,515 | 914,776 | 1,072,833 | 995,314 | PDF p. 4 |
Definitions & sources
Original report: PDF p. 4 ↗
Gross Profit — chart
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group | 2022Group | 2023Group | 2024Group | 2025Group | Source |
|---|---|---|---|---|---|---|
| Group financial highlights charts | ||||||
| Gross ProfitRM’000 | 1,906,832 | 450,320 | 295,511 | 390,089 | 298,688 | PDF p. 4 |
Definitions & sources
Original report: PDF p. 4 ↗
Net Profit — chart
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group | 2022Group | 2023Group | 2024Group | 2025Group | Source |
|---|---|---|---|---|---|---|
| Group financial highlights charts | ||||||
| Net ProfitRM’000 | 1,417,893 | 314,398 | 220,376 | 286,932 | 207,774 | PDF p. 4 |
Definitions & sources
Original report: PDF p. 4 ↗
Dividends Declared — chart
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group | 2022Group | 2023Group | 2024Group | 2025Group | Source |
|---|---|---|---|---|---|---|
| Group financial highlights charts | ||||||
| Dividends DeclaredRM sen/share | 48.0 | 34.0 | 22.5 | 24.0 | 17.0 | PDF p. 4 |
Definitions & sources
Original report: PDF p. 4 ↗
Revenue compound annual growth rate
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; CAGR 2021–2025 | Source |
|---|---|---|
| Group financial highlights | ||
| Revenue CAGR 2021–2025% | -24.6 | PDF p. 4 |
Definitions & sources
Original report: PDF p. 4 ↗
Gross Profit compound annual growth rate
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; CAGR 2021–2025 | Source |
|---|---|---|
| Group financial highlights | ||
| Gross Profit CAGR 2021–2025% | -37.1 | PDF p. 4 |
Definitions & sources
Original report: PDF p. 4 ↗
Net Profit compound annual growth rate
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; CAGR 2021–2025 | Source |
|---|---|---|
| Group financial highlights | ||
| Net Profit CAGR 2021–2025% | -38.1 | PDF p. 4 |
Definitions & sources
Original report: PDF p. 4 ↗
Where the money comes from
Segment information
By business
Business information - revenue by business segment, 2025 (Note 26(b)) 1 lines
| Item / unit | 2025Gloves | 2025Others | 2025Total | Source |
|---|---|---|---|---|
| Revenue | ||||
| Sales to external customers – 2025RM'000 | 977,675 | 17,639 | 995,314 | PDF p. 86 |
Notes
The Group predominantly manufactures and sells gloves. It is not meaningful to show the total assets employed and capital expenditure by business activities as the assets and liabilities are generally shared and not identifiable by business segments.
Business information - revenue by business segment, 2024 (Note 26(b)) 1 lines
| Item / unit | 2024Gloves | 2024Others | 2024Total | Source |
|---|---|---|---|---|
| Revenue | ||||
| Sales to external customers – 2024RM'000 | 1,052,368 | 20,465 | 1,072,833 | PDF p. 86 |
Notes
The Group predominantly manufactures and sells gloves. It is not meaningful to show the total assets employed and capital expenditure by business activities as the assets and liabilities are generally shared and not identifiable by business segments.
By geography
Geographical information 2025 (Note 26(a)) 13 lines
| Item / unit | 2025Malaysia | 2025Thailand | 2025China | 2025Singapore | 2025Eliminations | 2025Total | Source |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| ExternalRM'000 | 871,799 | 56,531 | 49,970 | 17,014 | – | 995,314 | PDF p. 85 |
| Total revenueRM'000 | 975,411 | 92,474 | 54,838 | 229,079 | (356,488) | 995,314 | PDF p. 85 |
| Results | |||||||
| Segment resultRM'000 | 211,482 | 44,821 | 4,167 | 216,410 | (212,385) | 264,495 | PDF p. 85 |
| Finance costsRM'000 | – | – | (20) | – | – | (20) | PDF p. 85 |
| Profit before taxationRM'000 | 211,482 | 44,821 | 4,147 | 216,410 | (212,385) | 264,475 | PDF p. 85 |
| Income tax expenseRM'000 | (42,674) | (8,063) | (1,045) | (3,921) | (998) | (56,701) | PDF p. 85 |
| Profit for the yearRM'000 | 168,808 | 36,758 | 3,102 | 212,489 | (213,383) | 207,774 | PDF p. 85 |
| Assets and liabilities | |||||||
| Segment assetsRM'000 | 1,362,546 | 48,692 | 32,006 | 241,166 | (44,784) | 1,639,626 | PDF p. 85 |
| Segment liabilitiesRM'000 | 176,733 | 9,345 | 5,402 | 2,913 | (30,474) | 163,919 | PDF p. 85 |
| Other segment information | |||||||
| Additions to non-current assetsRM'000 | 44,273 | 1,447 | 21 | 4 | – | 45,745 | PDF p. 85 |
| Other segment information - Other non-cash expense | |||||||
| Depreciation of property, plant and equipmentRM'000 | 70,036 | 620 | 813 | 4 | – | 71,473 | PDF p. 85 |
| Property, plant and equipment written offRM'000 | 71 | – | – | – | – | 71 | PDF p. 85 |
| Fair value (gain)/loss on derivativesRM'000 | (3,743) | 14 | – | – | – | (3,729) | PDF p. 85 |
Notes
(1) Includes dividend income from subsidiaries (applies to Singapore inter segment revenue).
Geographical information 2024 (Note 26(a)) 13 lines
| Item / unit | 2024Malaysia | 2024Thailand | 2024China | 2024Singapore | 2024Eliminations | 2024Total | Source |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| ExternalRM'000 | 957,945 | 47,523 | 48,120 | 19,245 | – | 1,072,833 | PDF p. 86 |
| Inter segmentRM'000 | 108,749 | 73,479 | 3,977 | 293,890 | (480,095) | – | PDF p. 86 |
| Total revenueRM'000 | 1,066,694 | 121,002 | 52,097 | 313,135 | (480,095) | 1,072,833 | PDF p. 86 |
| Results | |||||||
| Segment resultRM'000 | 280,434 | 64,755 | 2,564 | 305,942 | (294,961) | 358,734 | PDF p. 86 |
| Finance costsRM'000 | – | – | (47) | – | – | (47) | PDF p. 86 |
| Profit before taxationRM'000 | 280,434 | 64,755 | 2,517 | 305,942 | (294,961) | 358,687 | PDF p. 86 |
| Income tax expenseRM'000 | (51,976) | (11,548) | (676) | (7,037) | (518) | (71,755) | PDF p. 86 |
| Profit for the yearRM'000 | 228,458 | 53,207 | 1,841 | 298,905 | (295,479) | 286,932 | PDF p. 86 |
| Assets and liabilities | |||||||
| Segment assetsRM'000 | 1,422,913 | 46,784 | 41,142 | 336,978 | (68,549) | 1,779,268 | PDF p. 86 |
| Segment liabilitiesRM'000 | 223,722 | 13,243 | 14,531 | 4,766 | (53,890) | 202,372 | PDF p. 86 |
| Other segment information | |||||||
| Additions to non-current assetsRM'000 | 116,826 | 229 | 322 | 8 | – | 117,385 | PDF p. 86 |
| Other segment information - Other non-cash expense | |||||||
| Depreciation of property, plant and equipmentRM'000 | 63,030 | 943 | 916 | 4 | – | 64,893 | PDF p. 86 |
| Fair value loss/(gain) on derivativesRM'000 | 2,663 | (14) | – | – | – | 2,649 | PDF p. 86 |
Notes
(1) Includes dividend income from subsidiaries.
(2) Denotes amounts less than RM500 (applies to Thailand PPE written off).
Geographical location of customers, 2025 (Note 26(c)) 1 lines
| Item / unit | 2025USA | 2025Singapore | 2025Europe | 2025China | 2025Thailand | 2025Malaysia | 2025Other parts of South East Asia | 2025Other parts of Asia | 2025Rest of the world | 2025Total | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||
| Sales to external customers – 2025RM'000 | 315,088 | 170,274 | 121,168 | 64,997 | 61,840 | 61,798 | 49,399 | 143,964 | 6,786 | 995,314 | PDF p. 87 |
Notes
Revenue information by the geographical location of customers. Two (2024: Two) customers accounted for more than 10% of the Group’s revenue.
Geographical location of customers, 2024 (Note 26(c)) 1 lines
| Item / unit | 2024USA | 2024Singapore | 2024Europe | 2024China | 2024Thailand | 2024Malaysia | 2024Other parts of South East Asia | 2024Other parts of Asia | 2024Rest of the world | 2024Total | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||
| Sales to external customers – 2024RM'000 | 331,670 | 113,393 | 200,142 | 68,955 | 53,451 | 70,184 | 63,141 | 158,885 | 13,012 | 1,072,833 | PDF p. 87 |
Notes
Revenue information by the geographical location of customers.
Debt
Borrowings
Note 27(b) Liquidity risk – lease liabilities maturity 2024
| Item / unit | 20241 year or less, RM'000 | 20241 to 5 years, RM'000 | 2024Total, RM'000 | Source |
|---|---|---|---|---|
| Financial liabilities | ||||
| Lease liabilitiesRM'000 | 514 | – | 514 | PDF p. 89 |
Notes
Contractual undiscounted payments. The 2025 Group table (page 88) lists no lease liabilities. No bank borrowings, secured/unsecured loans, interest rate ranges or debt maturity beyond leases are disclosed.
Borrowing notes 1 tables
Lease liabilities
| Item / unit | 2025RM'000 | 2024RM'000 | Source |
|---|---|---|---|
| Current | |||
| Lease liabilitiesRM'000 | – | 494 | PDF p. 79 |
| Total | |||
| Total lease liabilitiesRM'000 | – | 494 | PDF p. 79 |
Notes
Non-current lease liabilities: – (2025) and – (2024). Lease liabilities are denominated in Renminbi (Note 23(b)) and are included under borrowings. Obligations are secured by lessor's title to leased assets.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Provision 11.6 – Dividend policy | Currently, the Company does not have a fixed dividend policy but strives to achieve the objective of maximising shareholders value by balancing the amount of dividends paid with keeping sufficient funds for future growth. In consideration for dividend payment, the Company takes into account, among other factors, current cash position, future cash needs, profitability, retained earnings and business outlook. | Company | PDF p. 41 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| total dividend | 17.0 sen per share | Group, FY2025 total declared (interim, final and special) | PDF p. 11 |
| Dividend declared for the financial year*** | 24.0 sen per share | Group, FY2024 comparative total declared | PDF p. 4 |
| Interim exempt (one-tier) dividend for 2025: 8.00 sen | 8.00 sen per ordinary share | Group and Company, FY2025 interim dividends declared and paid | PDF p. 81 |
| Interim exempt (one-tier) dividend for 2025: 8.00 sen | 12.00 sen per ordinary share | Group and Company, FY2024 comparative interim dividends | PDF p. 81 |
| Special interim exempt (one-tier) dividend for 2025 of 4.00 sen | 4.00 sen per ordinary share | Group and Company, FY2025 special interim dividend, proposed but not recognised as liability at 31 December 2025 · As at 2025-12-31 | PDF p. 81 |
| Final exempt (one-tier) dividend for 2025 of 5.00 sen | 5.00 sen per ordinary share | Group and Company, FY2025 final dividend proposed, subject to shareholder approval · As at 2025-12-31 | PDF p. 81 |
| Final exempt (one-tier) dividend for 2025 of 5.00 sen | 8.00 sen per ordinary share | Group and Company, FY2024 comparative final dividend · As at 2024-12-31 | PDF p. 81 |
| Special exempt (one-tier) dividend for 2024: 4.00 sen | 4.00 sen per ordinary share | Group and Company, FY2024 special dividend paid during 2025 (comparative 2023: 5.00 sen) | PDF p. 81 |
| Final exempt (one-tier) dividend for 2024: 8.00 sen | 8.00 sen per ordinary share | Group and Company, FY2024 final dividend paid during 2025 (comparative 2023: 7.50 sen) | PDF p. 81 |
| NOTICE OF RECORD DATE | 8 May 2026 | Proposed final dividend FY2025 | PDF p. 102 |
| Payment of the Proposed Final Dividend | 15 May 2026 | Proposed final dividend FY2025 | PDF p. 102 |
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| dividend payout ratio | 121.3% | Group, FY2025 | PDF p. 11 |
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 |
|---|---|---|---|
| Ernst & Young LLP | Ernst & Young LLP | Group | PDF p. 50 |
| Engagement partner | Philip Ling Soon Hwa | Group | PDF p. 50 |
| Opinion | true and fair view | Group and Company | PDF p. 47 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Revenue recognition | Incorrect determination of the point at which control of goods is transferred to customers could affect the timing of revenue recognition. | Group | PDF p. 48 |
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.
Group income and comprehensive income, cash flows, and separate Group/Company financial-position and changes-in-equity schedules are disclosed. Separate Company income/comprehensive-income and cash-flow statements are not disclosed.
Financial statements and monetary highlights are RM thousands; per-share amounts are RM sen and ratio/CAGR rows are percentages. Five-year highlights and four chart series cover 2021–2025.
NCI movement dashes carry note (1), defined as amounts less than RM500. Dashes remain source dashes and do not imply exact zeros.
In the 2025 financing cash-flow statement, printed interest paid is positive RM20 thousand; printed financing cash flow is negative RM296,934 thousand. The printed component sum is negative RM296,894 thousand, a RM40 thousand source discrepancy. Values are retained as printed.
The 2025 financial-highlights table reports cashflow from operations RM306,327 thousand; the cash-flow statement reports RM306,328 thousand. Both original figures are preserved.
Debt highlights exclude lease liabilities. The 2025 dividend includes a proposed final dividend of RM5.00 sen per ordinary share, subject to the 20 April 2026 AGM. Historical original-report backfill remains incomplete.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.