DailySpaceMMAG Holdings Berhad
0034 · ACE Market创业板（ACE Market） · annual reports 2023 to 2026, 452 entries read2023 至 2026 年报，共读出 452 条
The company这家公司
MMAG Holdings Berhad is a supply chain and logistics provider operating across mobile and fulfilment, courier and logistics, aviation services, and financial services.MMAG Holdings Berhad 是一家供应链与物流服务商，业务涵盖移动与履约、快递与物流、航空服务以及金融服务。
Source: annual report 2024, page 23; annual report 2026, pages 18, 67.出处：2024 年年报第 23 页；2026 年年报第 18、67 页。
In FPE 2026, aviation contributed 50.37% of group revenue, mobile and fulfilment 40.48%, courier and logistics 8.0%, others 0.91%, and financial services 0.24%.在 2026 财期，航空部门占集团营业额的 50.37%，移动与履约占 40.48%，快递与物流占 8.0%，其他占 0.91%，金融服务占 0.24%。
Source: annual report 2026, page 20.出处：2026 年年报第 20 页。
By country, Malaysia generated RM1,105,673,972 of revenue in FPE 2026, followed by Macau with RM121,478,875 and Singapore with RM86,626,451. A single customer in mobile and fulfilment accounted for RM410,297,092, while two aviation customers contributed RM139,768,075 and RM138,262,918.按国家/地区划，马来西亚在 2026 财期贡献 RM1,105,673,972 营业额，其次是澳门 RM121,478,875 及新加坡 RM86,626,451。移动与履约部门的一名客户贡献 RM410,297,092，而两名航空客户分别贡献 RM139,768,075 与 RM138,262,918。
Source: annual report 2026, page 252.出处：2026 年年报第 252 页。
Future Star Sdn. Bhd. is the largest shareholder holding 468,024,800 shares (20.16%), which are held in a pledged securities account with Velocity Capital Sdn. Bhd., with Cheah Min Lly having deemed interest. NexG Berhad holds 220,000,000 shares (9.48%). Former director Chin Boon Long was an indirect major shareholder through his spouse Chan Swee Ying, until both resigned as directors.Future Star Sdn. Bhd. 为最大股东，持有 468,024,800 股（20.16%），存放于 Velocity Capital Sdn. Bhd. 的抵押证券账户，Cheah Min Lly 拥有被视为权益。NexG Berhad 持有 220,000,000 股（9.48%）。前董事 Chin Boon Long 曾通过其配偶 Chan Swee Ying 间接持有重大股权，直至两人辞任董事。
Source: annual report 2026, pages 110, 115.出处：2026 年年报第 110、115 页。
Executive changes during FPE 2026 included the appointments of Ahmad Luqman Bin Mohd Azmi and Dato' Kevin Jit Singh A/L Ragbir Singh as Executive Directors, and the resignations of Chairman Tan Sri Dato' Seri Mohd Khairul Adib Bin Abd Rahman and Executive Directors Chin Boon Long and Chong Koon Meng. As at report date, the positions of Chairman of the Board and Chief Executive Officer were vacant.2026 财期管理层变动包括任命 Ahmad Luqman Bin Mohd Azmi 与 Dato' Kevin Jit Singh A/L Ragbir Singh 为执行董事，以及主席 Tan Sri Dato' Seri Mohd Khairul Adib Bin Abd Rahman 与执行董事 Chin Boon Long 和 Chong Koon Meng 辞职。截至报告日，董事会主席与首席执行员职位处于悬空状态。
Source: annual report 2026, pages 83, 87.出处：2026 年年报第 83、87 页。
Revenue share by segment, FPE 20262026 财期各部门营业额占比
Source: annual report 2026, page 20.出处：2026 年年报第 20 页。
Major events大事记
Source: annual report 2023, page 107.出处：2023 年年报第 107 页。
Source: annual report 2023, page 151.出处：2023 年年报第 151 页。
Source: annual report 2024, pages 63, 155.出处：2024 年年报第 63、155 页。
Source: annual report 2026, page 230.出处：2026 年年报第 230 页。
Source: annual report 2026, pages 170, 271.出处：2026 年年报第 170、271 页。
Revenue and loss before taxation营业额与税前亏损
Assets, borrowings and cash资产、借款与现金
20232023 年
The group incurred a net loss of RM89,392,204 for FY2023, with current liabilities exceeding current assets by RM56,863,285. Cash flows were supported by private placement proceeds of RM13,625,384, warrant exercises of RM6,900,700, disposal of investment property of RM20,194,496, and disposal of other investments of RM39,217,381. Capital expenditure on property, plant and equipment was RM23,571,316, while leasing a fourth aircraft increased total liabilities to RM450.20 million.集团 2023 财年录得净亏损 RM89,392,204，流动负债超过流动资产 RM56,863,285。现金流由私下配售所得 RM13,625,384、凭单行使所得 RM6,900,700、脱售投资产业所得 RM20,194,496 以及脱售其他投资所得 RM39,217,381 所支持。物业、厂房与设备资本支出为 RM23,571,316，而租用第四架飞机使总负债增至 RM450.20 million。
Source: annual report 2023, pages 23, 47, 51, 67.出处：2023 年年报第 23、47、51、67 页。
20242024 财期
In FPE 2024, MMAG completed a 10-to-1 share consolidation and raised RM145,343,436 from a rights issue and RM92,093,959 from warrant exercises. The group spent RM8,250,000 cash to acquire 5,400,000 shares in Line Clear Express and agreed to sell freehold land for RM3,000,000. On 2 October 2024, the company triggered Guidance Note 3 status due to going concern uncertainties raised in the FY2023 audit.在 2024 财期，MMAG 完成了 10 股合为 1 股的股份整合，并通过附加股筹集 RM145,343,436，以及凭单行使筹集 RM92,093,959。集团以 RM8,250,000 现金收购 Line Clear Express 的 5,400,000 股股份，并同意以 RM3,000,000 脱售永久地契土地。2024 年 10 月 2 日，因 2023 财年审计报告中的持续经营不确定性，公司触发 GN3 重组状态。
Source: annual report 2024, pages 63, 110, 120, 155.出处：2024 年年报第 63、110、120、155 页。
20262026 财期
For FPE 2026, net loss was RM89,099,114 and net current liabilities were RM38,953,934, impacted by RM73.99 million in non-operational impairment charges including RM35.63 million goodwill impairment and RM32.28 million receivable impairment. Capital spending on aircraft and aviation infrastructure was RM81.82 million, while share capital was reduced by RM270 million to offset accumulated losses. Certain bank accounts were frozen under AMLA investigations, and warrant exercises generated RM1,734,615.在 2026 财期，净亏损为 RM89,099,114，净流动负债为 RM38,953,934，受 RM73.99 million 非营运减值计提影响，包括 RM35.63 million 商誉减值与 RM32.28 million 应收款项减值。飞机与航空基础设施的资本支出为 RM81.82 million，同时削减股本 RM270 million 以抵销累计亏损。在 AMLA 调查下部分银行账户被冻结，而行使凭单带来 RM1,734,615 资金。
Source: annual report 2026, pages 19, 21, 131, 141, 170, 230.出处：2026 年年报第 19、21、131、141、170、230 页。
Across the reports跨报告期
Across all three reports, auditors highlighted material uncertainty or key audit matters regarding MMAG's ability to continue as a going concern. Lease liabilities, primarily for aircraft and operational assets, remained high at RM266,647,302 in 2023, RM281,683,326 in 2024, and RM274,354,782 in 2026. No dividends were paid or declared across the period under review.在三份报告中，审计师均对 MMAG 持续经营的能力提出了重大不确定性或关键审计事项。主要用于飞机及营运资产的租赁负债居高不下，2023 年为 RM266,647,302，2024 年为 RM281,683,326，2026 年为 RM274,354,782。回顾期内未派发或宣派任何股息。
Source: annual report 2023, pages 51, 100; annual report 2024, pages 88, 103; annual report 2026, pages 24, 142, 200.出处：2023 年年报第 51、100 页；2024 年年报第 88、103 页；2026 年年报第 24、142、200 页。
Still to be spent尚未支出的承诺
At 31 March 2026, capital commitments contracted for purchase of aircraft and building construction stood at RM114,213,333. Out of RM145.3 million total rights issue proceeds, RM141.3 million had been utilised, including RM59.0 million of the RM63.0 million allocated for capital expenditure.截至 2026 年 3 月 31 日，购买飞机与建筑物建设的已签约资本承诺为 RM114,213,333。在 RM145.3 million 附加股总所得中，已动用 RM141.3 million，其中包括资本支出划拨的 RM63.0 million 中的 RM59.0 million。
Source: annual report 2026, pages 114, 247.出处：2026 年年报第 114、247 页。
Four years of figures四年数字
Group figures, in RM, as printed in the statements.集团数字，单位令吉，照财务报表所印。
| Group集团 | 2022 | 2023 | 2024 | 2026 |
|---|---|---|---|---|
| RM令吉 | RM令吉 | RM令吉 | RM令吉 | |
| Revenue营业额 | 385,877,852 | 422,095,703 | 824,370,947 | 1,315,793,721 |
| Loss before taxation税前亏损 | (33,653,628) | (89,864,134) | (103,328,113) | (83,498,210) |
| Total assets总资产 | – | 598,492,610 | 720,389,503 | 719,719,722 |
| Borrowings借款 | 20,549,136 | 15,424,507 | 13,805,381 | 33,257,251 |
| Cash and bank balances现金与银行结余 | 12,839,890 | 11,325,644 | 6,198,455 | 24,518,445 |
| Other investments其他投资 | 251,436,725 | 59,370,869 | 0 | 0 |
| Fixed deposits with licensed banks持牌银行定期存款 | 12,540,000 | 7,727,584 | 81,587,008 | 27,533,686 |
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 |
|---|---|---|
| Proposed rights issue of up to 1,453,434,942 new shares at RM0.10 per share to raise funding for network expansion (2023 report)建议以每股 RM0.10 配售最多 1,453,434,942 股附加股，以筹集网络扩张资金（2023 年报） | Completed share consolidation and issued 1,453,434,366 new shares at RM0.10, raising RM145,343,436 (2024 report)完成股份整合，并以每股 RM0.10 发行 1,453,434,366 股新股，筹集 RM145,343,436（2024 年报） Source: annual report 2023, pages 24, 70; annual report 2024, page 63.出处：2023 年年报第 24、70 页；2024 年年报第 63 页。 | Completed已完成 |
| Planned to provide third-party ground handling services to other airlines and cargo operators (2023 report)计划向其他航空公司及货运运营商提供第三方地面服务（2023 年报） | Set up joint venture with Menzies Aviation and secured Ground Handling Licence effective November 2025 (2024 and 2026 reports)与 Menzies Aviation 成立合资公司，并获得自 2025 年 11 月生效的地面服务牌照（2024 与 2026 年报） Source: annual report 2023, pages 18, 22; annual report 2024, page 20; annual report 2026, pages 16, 27.出处：2023 年年报第 18、22 页；2024 年年报第 20 页；2026 年年报第 16、27 页。 | Carried out已执行 |
| Entered agreement to acquire 850,000 shares in Cipta X Sdn. Bhd. (2024 report)签订协议收购 Cipta X Sdn. Bhd. 的 850,000 股股份（2024 年报） | Completed the acquisition in October 2024 and subsequently acquired the remaining 15% in Cipta X (2024 and 2026 reports)于 2024 年 10 月完成收购，随后再收购 Cipta X 剩余的 15% 股权（2024 与 2026 年报） Source: annual report 2024, page 155; annual report 2026, pages 208, 209.出处：2024 年年报第 155 页；2026 年年报第 208、209 页。 | Completed已完成 |
| Entered sales and purchase agreement to dispose a parcel of freehold land for RM3,000,000 (2024 report)签订买卖协议以 RM3,000,000 脱售一宗永久地契土地（2024 年报） | The sales and purchase agreement relating to the proposed disposal was mutually terminated (2026 report)有关拟议脱售的买卖协议已协议终止（2026 年报） Source: annual report 2024, page 120; annual report 2026, page 228.出处：2024 年年报第 120 页；2026 年年报第 228 页。 | Terminated已终止 |
What the reports leave open年报留下待看的事
- Resolution of AMLA investigations and unfreezing of group bank accounts that remained frozen at report approval date.AMLA 调查的处理进展及截至报告批准日仍处于冻结状态的集团银行账户解冻情况。
Source: annual report 2026, page 170.出处：2026 年年报第 170 页。
- Progress on the proposed divestment of an 80% equity interest in MMAG Aviation Consortium Sdn. Bhd., subject to definitive agreements, and regularisation under Guidance Note 3.出售 MMAG Aviation Consortium Sdn. Bhd. 80% 股权拟议方案的进展（尚需签署最终协议），以及 Guidance Note 3 下的重组计划。
Source: annual report 2026, pages 142, 269, 272.出处：2026 年年报第 142、269、272 页。
- Outcome of ongoing legal suits against former directors for breach of fiduciary duties, with trial dates scheduled in November 2026.对前董事就违反受托责任提起的法律诉讼的进展，审讯日期已定于 2026 年 11 月。
Source: annual report 2026, pages 22, 267, 269.出处：2026 年年报第 22、267、269 页。
- Loan receivables in the new financial services segment stood at gross RM54,313,089, with expected credit loss allowances of RM31,569,170 recognised at 31 March 2026.新金融服务部门的应收贷款毛额为 RM54,313,089，截至 2026 年 3 月 31 日已计提预期信用损失准备 RM31,569,170。
Source: annual report 2026, page 147.出处：2026 年年报第 147 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-24.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 2026-10-24。