DailySpaceBursa Malaysia companies, read from their annual reports从年报读懂大马上市公司

Cuscapi Berhad

0051 · Main Market主板(Main Market) · annual reports 2023 to 2025, 363 entries read2023 至 2025 年报,共读出 363 条

Revenue, 20252025 年营业额RM28.1m2.81千万令吉down 35.5% from比 2024 年减少 35.5%,当年为 RM43.6m4.36千万令吉 in 2024
Profit/(Loss) before tax, 20252025 年税前盈利/(亏损)RM4.36m436万令吉down 68.2% from比 2024 年减少 68.2%,当年为 RM13.7m1.37千万令吉 in 2024
Net cash from/(used in) operating activities, 20252025 年营运活动所得/(所用)现金净额RM19.2m1.92千万令吉down 51.5% from比 2024 年减少 51.5%,当年为 RM39.6m3.96千万令吉 in 2024
Cash and bank balances, 20252025 年现金与银行结余RM2.25m225万令吉down 24.4% from比 2024 年减少 24.4%,当年为 RM2.98m298万令吉 in 2024

The company这家公司

Cuscapi provides point-of-sale systems and software solutions, including its Transight and C360 platforms, electronic document management systems (EDMS), and retail point-of-sale systems.Cuscapi 提供销售点(POS)系统和软件解决方案,包括其 Transight 与 C360 平台、电子文档管理系统(EDMS)以及零售销售点系统。

Source: annual report 2023, page 12; annual report 2024, page 13; annual report 2025, page 12.出处:2023 年年报第 12 页;2024 年年报第 13 页;2025 年年报第 12 页。

In 2025, Transight & C360 contributed RM25,451,899 (90% of revenue) and EDMS contributed RM2,690,067 (10% of revenue), making up total revenue of RM28,141,966.2025 年,Transight & C360 贡献营业额 RM25,451,899(占 90%),EDMS 贡献 RM2,690,067(占 10%),合计总营业额为 RM28,141,966。

Source: annual report 2025, page 12.出处:2025 年年报第 12 页。

In 2024, Transight & C360 brought RM41,195,815 (94%) and EDMS brought RM2,415,956 (6%) of total revenue of RM43,611,771. In 2023, Transight & C360 brought RM14,128,341 (50%), EDMS brought RM2,499,943 (9%), and others brought RM11,757,728 (41%) of total revenue of RM28,386,012.2024 年,Transight & C360 带来 RM41,195,815(94%),EDMS 带来 RM2,415,956(6%),总营业额为 RM43,611,771。2023 年,Transight & C360 带来 RM14,128,341(50%),EDMS 带来 RM2,499,943(9%),其他带来 RM11,757,728(41%),总营业额为 RM28,386,012。

Source: annual report 2023, page 12; annual report 2024, page 12.出处:2023 年年报第 12 页;2024 年年报第 12 页。

Malaysia accounted for RM26,841,009 of revenue in 2025, RM41,782,123 in 2024, and RM23,319,542 in 2023. Other countries accounted for RM1,300,957 in 2025, RM1,829,648 in 2024, and RM5,066,470 in 2023. In Malaysia, two customers represented approximately RM15,000,000 of revenue in 2025, two customers represented approximately RM20,000,000 in 2024, and one customer represented approximately RM11,267,391 in 2023.马来西亚在 2025 年占营业额 RM26,841,009,2024 年为 RM41,782,123,2023 年为 RM23,319,542。其他国家在 2025 年占 RM1,300,957,2024 年为 RM1,829,648,2023 年为 RM5,066,470。在马来西亚,两家客户在 2025 年占约 RM15,000,000 营业额,两家客户在 2024 年占约 RM20,000,000,一家客户在 2023 年占约 RM11,267,391。

Source: annual report 2023, pages 12, 116; annual report 2024, pages 11, 163; annual report 2025, pages 12, 149.出处:2023 年年报第 12、116 页;2024 年年报第 11、163 页;2025 年年报第 12、149 页。

Wong Thean Soon holds 237,448,300 shares (25.1299%) directly and has a deemed interest in 27,750,000 shares (2.9369%) through Asia Internet Holdings Sdn Bhd. His shareholdings include pledged securities accounts at AMSEC Nominees (93,149,800 shares, 9.8583%), TA Nominees (75,420,100 shares, 7.9819%), Affin Hwang Nominees (37,300,000 shares, 3.9476%), and CGS International Nominees (30,498,500 shares, 3.2277%). Other substantial shareholders include Datin Sri Lee Lan Moi with 73,233,400 shares (7.7505%), Jessie Lim Me Xian with 68,200,000 shares (6.9003%), and Transight Systems Sdn Bhd with 64,775,800 shares (6.8554%).Wong Thean Soon 直接持有 237,448,300 股(25.1299%),并通过 Asia Internet Holdings Sdn Bhd 拥有 27,750,000 股(2.9369%)的视同权益。其持股包含在 AMSEC Nominees(93,149,800 股,9.8583%)、TA Nominees(75,420,100 股,7.9819%)、Affin Hwang Nominees(37,300,000 股,3.9476%)及 CGS International Nominees(30,498,500 股,3.2277%)的抵押证券账户。其他主要股东包括持有 73,233,400 股(7.7505%)的 Datin Sri Lee Lan Moi、持有 68,200,000 股(6.9003%)的 Jessie Lim Me Xian 以及持有 64,775,800 股(6.8554%)的 Transight Systems Sdn Bhd。

Source: annual report 2025, pages 159, 160.出处:2025 年年报第 159、160 页。

Datuk Jayakumar A/L Panneer Selvam held 2,978,900 shares (0.3153%) directly and 17,877,700 shares (1.8921%) deemed interest. None of the key senior management has family relationships with directors or major shareholders. Datuk Mat Noor Bin Nawi will not seek re-election and will retire at the conclusion of the 46th AGM.Datuk Jayakumar A/L Panneer Selvam 直接持有 2,978,900 股(0.3153%),视同权益为 17,877,700 股(1.8921%)。关键高级管理人员与董事或主要股东均无亲属关系。Datuk Mat Noor Bin Nawi 不寻求连任,将于第 46 届股东周年大会结束时退休。

Source: annual report 2023, page 21; annual report 2025, pages 65, 159.出处:2023 年年报第 21 页;2025 年年报第 65、159 页。

Revenue by product and solution, 20252025 年按产品及方案划分的营业额

Transight & C360: 90.4%EDMS: 9.6%
Transight & C360 90.4%Transight & C360 90.4%EDMS 9.6%EDMS 9.6%

Source: annual report 2025, page 12.出处:2025 年年报第 12 页。

Major events大事记

2022Hitachi Singapore litigation was settled with payments on 4 August 2022 and 21 October 2022.Hitachi Singapore 诉讼和解款项于 2022 年 8 月 4 日及 2022 年 10 月 21 日支付完毕。

Source: annual report 2023, page 126.出处:2023 年年报第 126 页。

2023The company changed its financial year end from 30 June to 31 December on 9 June 2023.公司于 2023 年 6 月 9 日将财政年结日由 6 月 30 日变更为 12 月 31 日。

Source: annual report 2023, page 53.出处:2023 年年报第 53 页。

2023Commercial investment property obtained Certificate of Completion and Compliance on 25 October 2023.商业投资产业于 2023 年 10 月 25 日取得完工与合规证书(CCC)。

Source: annual report 2023, page 90.出处:2023 年年报第 90 页。

2023The company was served with a Writ of Summons on 2 October 2023 by Her Chor Siong claiming damages of RM20,000,000.公司于 2023 年 10 月 2 日收到 Her Chor Siong 发出的传票,索偿损失 RM20,000,000。

Source: annual report 2023, page 126.出处:2023 年年报第 126 页。

2024On 4 April 2024, the High Court struck out the claim by Her Chor Siong and ordered him to pay RM10,000 to the company.2024 年 4 月 4 日,高等法院撤销 Her Chor Siong 的索赔,并责令其向公司支付 RM10,000。

Source: annual report 2023, page 126; annual report 2024, page 176.出处:2023 年年报第 126 页;2024 年年报第 176 页。

2024On 15 May 2024, a conversion notice was submitted to convert RM9,000,000 RCPS into 4,100,952 ordinary shares in MX Global.2024 年 5 月 15 日提交转换通知,将 RM9,000,000 优先股转换为 MX Global 的 4,100,952 股普通股。

Source: annual report 2024, page 135.出处:2024 年年报第 135 页。

2025Conversion shares in MX Global representing a 30% equity interest were allotted in January 2025.代表 MX Global 30% 股权的转换股份于 2025 年 1 月获配发。

Source: annual report 2024, page 135; annual report 2025, page 129.出处:2024 年年报第 135 页;2025 年年报第 129 页。

2025On 19 March 2025, the Court of Appeal allowed Her Chor Siong's appeal, and trial for Suit 542 was fixed for 30 June 2026 and 1 July 2026.2025 年 3 月 19 日上诉庭批准 Her Chor Siong 的上诉,第 542 号诉讼审讯定于 2026 年 6 月 30 日及 7 月 1 日。

Source: annual report 2024, page 176; annual report 2025, page 158.出处:2024 年年报第 176 页;2025 年年报第 158 页。

Revenue, profit and operating cash flow营业额、盈利与营运现金流

Revenue营业额
2022
RM9.94m994万令吉
2023
RM28.4m2.84千万令吉
2024
RM43.6m4.36千万令吉
2025
RM28.1m2.81千万令吉
Profit/(Loss) before tax税前盈利/(亏损)
2022
–RM5.09m–509万令吉
2023
RM2.16m216万令吉
2024
RM13.7m1.37千万令吉
2025
RM4.36m436万令吉
Net cash from/(used in) operating activities营运活动所得/(所用)现金净额
2022
–RM2.97m–297万令吉
2023
–RM33.8m–3.38千万令吉
2024
RM39.6m3.96千万令吉
2025
RM19.2m1.92千万令吉

Total assets, liabilities and cash总资产、总负债与现金

Total assets总资产
2022
RM80.0m8.00千万令吉
2023
RM64.4m6.44千万令吉
2024
RM71.8m7.18千万令吉
2025
RM67.4m6.74千万令吉
Total liabilities总负债
2022
RM27.8m2.78千万令吉
2023
RM11.0m1.10千万令吉
2024
RM18.5m1.85千万令吉
2025
RM10.5m1.05千万令吉
Cash and bank balances现金与银行结余
2022
RM16.8m1.68千万令吉
2023
RM0.58m58万令吉
2024
RM2.98m298万令吉
2025
RM2.25m225万令吉

20232023 年

On 9 June 2023, the Company changed its financial year end from 30 June to 31 December. The group disposed of quoted shares for RM16,138,806. A fixed deposit was withdrawn and paid to Hitachi Singapore on 4 August 2022 in the litigation; withdrawal of pledged deposits in the cash flow was RM15,984,171. Net advances from a Director were RM3,020,000, leaving amount owing to a Director at RM3,930,000. Net cash used in operating activities was RM33,763,039. The directors did not recommend any dividend.2023 年 6 月 9 日,公司将财政年结日由 6 月 30 日变更为 12 月 31 日。集团处置报价股票取得 RM16,138,806。定期存款于 2022 年 8 月 4 日被提取并支付给 Hitachi Singapore(诉讼);现金流量表中提取抵押存款为 RM15,984,171。来自一名董事的预付款净额为 RM3,020,000,欠该董事款项为 RM3,930,000。营运活动所用现金净额为 RM33,763,039。董事不建议派发任何股息。

Source: annual report 2023, pages 53, 67, 105, 126.出处:2023 年年报第 53、67、105、126 页。

20242024 年

Net cash from operating activities was RM39,574,532. The group spent RM24,500,000 on purchase of intangible assets for retail point-of-sale software and an E-Invoice Web app, and RM8,595,000 on the acquisition of associate MX Global Sdn Bhd. Advances from a Director were repaid by RM3,015,000, leaving amount owing to a Director at RM5,000. An impairment loss of RM13,301,546 was recognized on subsidiaries. Fair value adjustment on other investments of RM13,350,900 was recognized in other comprehensive income, and the carrying value of the 20% interest in KOMMS (2023: RM13,351,000) was cut to RM100 after management reassessed its valuation assumptions following auditor challenges. A fair value gain on investment property of RM1,600,000 was recognized in profit and loss. The directors did not recommend any dividend.营运活动所得现金净额为 RM39,574,532。集团购置零售 POS 软件及电子发票网页应用等无形资产支出 RM24,500,000,收购联营公司 MX Global Sdn Bhd 支出 RM8,595,000。偿还董事预付款 RM3,015,000,欠董事款项余下 RM5,000。对子公司确认减值损失 RM13,301,546。在其他综合收益中确认其他投资公允价值调整 RM13,350,900,在审计师提出质疑后,管理层重新评估估值假设,KOMMS 20% 股权的账面值(2023 年:RM13,351,000)减至 RM100。在损益中确认投资产业公允价值收益 RM1,600,000。董事不建议派发任何股息。

Source: annual report 2024, pages 68, 77, 91, 124, 128, 134, 138, 148, 158.出处:2024 年年报第 68、77、91、124、128、134、138、148、158 页。

20252025 年

Net cash from operating activities was RM19,196,501. The group spent RM15,500,000 on purchase of intangible assets, while amortization of intangible assets was RM12,250,000. Repayments to a Director were RM3,660,000. The group held digital assets classified as inventory with a carrying amount of RM5,719,430. Its 30% equity interest in associate MX Global Sdn Bhd stood at a carrying amount of RM7,956,907. Total debt was nil, and the directors did not recommend any dividend.营运活动所得现金净额为 RM19,196,501。集团在无形资产购置上支出 RM15,500,000,无形资产摊销为 RM12,250,000。向一名董事偿还款项 RM3,660,000。集团持有分类为存货的数字资产,账面值为 RM5,719,430。在联营公司 MX Global Sdn Bhd 的 30% 股权账面值为 RM7,956,907。总债务为零,董事不建议派发任何股息。

Source: annual report 2025, pages 76, 78, 86, 96, 123, 145.出处:2025 年年报第 76、78、86、96、123、145 页。

Across the three years三年合看

Across the three years, cash and bank balances moved from RM16,752,695 in 2022 to RM583,620 in 2023, RM2,977,455 in 2024, and RM2,251,928 in 2025. Total assets moved from RM80,003,531 in 2022 to RM64,379,737 in 2023, RM71,834,682 in 2024, and RM67,427,672 in 2025. The directors did not recommend any dividend in respect of any of the three financial periods, and no proceeds were raised by the company from any corporate proposals.三年合看,现金与银行结余由 2022 年的 RM16,752,695 变为 2023 年的 RM583,620、2024 年的 RM2,977,455 和 2025 年的 RM2,251,928。总资产由 2022 年的 RM80,003,531 变为 2023 年的 RM64,379,737、2024 年的 RM71,834,682 和 2025 年的 RM67,427,672。三个财政期间董事均未建议派发任何股息,公司亦未从任何公司提案中筹集资金。

Source: annual report 2023, pages 45, 53; annual report 2024, pages 59, 68; annual report 2025, pages 75, 78.出处:2023 年年报第 45、53 页;2024 年年报第 59、68 页;2025 年年报第 75、78 页。

Still to be spent尚未支出的承诺

At the end of 2023, approved and contracted capital commitments for other investment in RCPS were RM8,595,000; at the end of 2024 they were nil, and the 2024 cash flow shows RM8,595,000 paid for acquisition of an associate. In 2025, there were no proceeds raised from corporate proposals.2023 年底,优先股其他投资的已批准及已签约资本承诺为 RM8,595,000;2024 年底为零,2024 年现金流量表显示收购联营公司支付 RM8,595,000。2025 年没有从公司提案中筹集资金。

Source: annual report 2023, page 117; annual report 2024, pages 91, 163; annual report 2025, page 75.出处:2023 年年报第 117 页;2024 年年报第 91、163 页;2025 年年报第 75 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2022202320242025
RM令吉RM令吉RM令吉RM令吉
Revenue营业额9,942,02528,386,01243,611,77128,141,966
Profit/(Loss) before tax税前盈利/(亏损)(5,094,349)2,160,91913,690,7484,357,484
Profit/(Loss) for the financial year本年盈利/(亏损)–1,912,24013,360,0033,821,676
Net cash from/(used in) operating activities营运活动所得/(所用)现金净额(2,974,391)(33,763,039)39,574,53219,196,501
Purchase of property, plant and equipment购置产业、厂房与设备(488,341)(80,692)(11,024)(39,246)
Total assets总资产80,003,53164,379,73771,834,68267,427,672
Total liabilities总负债27,821,39610,961,29318,533,12710,495,688
Total equity总权益–53,418,44453,301,55556,931,984
Cash and bank balances现金与银行结余16,752,695583,6202,977,4552,251,928
Other investments其他投资30,797,34913,361,93510,8277,182

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
Diversifying the portfolio with the introduction of advanced retail point-of-sale systems (2024 report)通过推出先进的零售销售点系统使业务组合多元化(2024 年年报)Retail POS software and an E-Invoice Web app were completed and ready for use in December 2024; the 2025 report lists retail POS software and POS Cloud Reporting among software ready for use, with RM15,500,000 of additions in 2025.零售 POS 软件及电子发票网页应用于 2024 年 12 月完成并可供使用;2025 年年报列出零售 POS 软件及 POS 云端报告等已可供使用的软件,2025 年增加 RM15,500,000。

Source: annual report 2024, pages 13, 128; annual report 2025, pages 123, 124.出处:2024 年年报第 13、128 页;2025 年年报第 123、124 页。

Software in use软件已投入使用

What the reports leave open年报留下待看的事

  • The trial of Suit 542 brought by Her Chor Siong seeking damages of RM20,000,000, fixed for 30 June 2026 and 1 July 2026.Her Chor Siong 索偿 RM20,000,000 损失的第 542 号诉讼审讯,定于 2026 年 6 月 30 日及 7 月 1 日进行。

    Source: annual report 2023, page 126; annual report 2025, page 158.出处:2023 年年报第 126 页;2025 年年报第 158 页。

  • Holding of Zetrix tokens classified as inventory with a carrying amount of RM5,719,430, which were not actively traded during the financial year and whose reward distributions remain subject to protocol-level discretion or adjustments.列为存货的 Zetrix 代币持有量账面值为 RM5,719,430,财政年度内未进行积极交易,其实际奖励分配仍受协议层面的裁量或调整影响。

    Source: annual report 2025, pages 86, 100, 137.出处:2025 年年报第 86、100、137 页。

  • The 30% equity interest in associate MX Global Sdn Bhd with carrying amount of RM7,956,907, whose share of net assets was RM1,540,632.联营公司 MX Global Sdn Bhd 30% 股权的账面值为 RM7,956,907,其净资产应占份额为 RM1,540,632。

    Source: annual report 2025, pages 86, 130.出处:2025 年年报第 86、130 页。

  • Target to achieve 30% female representation on the Board by FYE 2025, which stood at 20%.在 2025 财政年度结束前实现董事会 30% 女性代表的目标,目前为 20%。

    Source: annual report 2025, page 31.出处:2025 年年报第 31 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。