DailySpaceHSS Engineers Berhad
0185 · Main Market主板（Main Market） · annual reports 2023 to 2025, 522 entries read2023 至 2025 年报，共读出 522 条
The company这家公司
HSS Engineers Berhad provides engineering design, construction supervision, project management, and digital transformation services.HSS Engineers Berhad 提供工程设计、施工监理、项目管理及数字化转型服务。
Source: annual report 2023, page 6; annual report 2024, page 17; annual report 2025, page 17.出处：2023 年年报第 6 页；2024 年年报第 17 页；2025 年年报第 17 页。
In 2025, Project Management accounted for 46.8% of revenue, Engineering Design 24.5%, Construction Supervision 21.7%, Reimbursable Income 4.9%, and Digital Transformation Services 2.1%.2025 年，项目管理占营业额的 46.8%，工程设计占 24.5%，施工监理占 21.7%，可报销收入占 4.9%，数字化转型服务占 2.1%。
Source: annual report 2025, page 17.出处：2025 年年报第 17 页。
Malaysia contributed 87.1% of revenue (RM192.6 million) in 2025, the Middle East 8.9%, India 2.1%, the Philippines 1.2%, Cambodia 0.5%, and Indonesia 0.3%. Public sector projects accounted for approximately 79.1% of revenue. Two major customers, each above 10% of group revenue, contributed RM178,262,559.2025 年马来西亚业务占营业额的 87.1%（RM192.6 million），中东占 8.9%，印度占 2.1%，菲律宾占 1.2%，柬埔寨占 0.5%，印度尼西亚占 0.3%。公共部门项目约占营业额的 79.1%。两名主要客户（各占集团营业额逾 10%）合计贡献 RM178,262,559。
Source: annual report 2025, pages 18, 145.出处：2025 年年报第 18、145 页。
Victech Solutions Sdn Bhd held 108,208,632 shares (21.28%) and Flamingo Works Sdn Bhd held 77,000,000 shares (15.14%) at 31 December 2025. Tan Sri Ir. Kunasingam A/L V.Sittampalam held 470,000 shares directly (0.09%) and an indirect interest of 108,208,632 shares (21.28%) through Victech Solutions Sdn Bhd. Shantamalar A/P C.Sivasubramaniam held a deemed interest in 77,000,000 shares (15.14%) through SK Capital Management Sdn Bhd.截至 2025 年 12 月 31 日，Victech Solutions Sdn Bhd 持有 108,208,632 股（21.28%），Flamingo Works Sdn Bhd 持有 77,000,000 股（15.14%）。Tan Sri Ir. Kunasingam A/L V.Sittampalam 直接持有 470,000 股（0.09%），并通过 Victech Solutions Sdn Bhd 间接持有 108,208,632 股（21.28%）。Shantamalar A/P C.Sivasubramaniam 通过 SK Capital Management Sdn Bhd 视为持有 77,000,000 股（15.14%）。
Source: annual report 2025, page 166.出处：2025 年年报第 166 页。
Pledged accounts included 73,608,632 shares (14.476%) for Victech Solutions Sdn Bhd and 48,000,000 shares (9.440%) for Flamingo Works Sdn Bhd. Datuk Ir. Teo Chok Boo held 33,632,095 shares directly (6.614%) and 16,994,106 shares (3.34%) deemed through his spouse and his son Ir. Teo Koon Hau. Dato' Mohd Zakhir Siddiqy Bin Sidek resigned as director on 31 July 2025, and Tan Sri Ir. Kunasingam A/L V.Sittampalam became Acting Chairman from 1 August 2025.抵押证券账户包括 Victech Solutions Sdn Bhd 的 73,608,632 股（14.476%）和 Flamingo Works Sdn Bhd 的 48,000,000 股（9.440%）。Datuk Ir. Teo Chok Boo 直接持有 33,632,095 股（6.614%），并通过配偶及儿子 Ir. Teo Koon Hau 视为持有 16,994,106 股（3.34%）。Dato' Mohd Zakhir Siddiqy Bin Sidek 于 2025 年 7 月 31 日辞去董事职务，Tan Sri Ir. Kunasingam A/L V.Sittampalam 自 2025 年 8 月 1 日起担任代主席。
Source: annual report 2025, pages 26, 105, 166, 167.出处：2025 年年报第 26、105、166、167 页。
Revenue by service segment, 20252025 年各业务部门营业额占比
Source: annual report 2025, page 17.出处：2025 年年报第 17 页。
Major events大事记
Source: annual report 2023, pages 95, 120.出处：2023 年年报第 95、120 页。
Source: annual report 2023, page 148.出处：2023 年年报第 148 页。
Source: annual report 2024, pages 90, 103.出处：2024 年年报第 90、103 页。
Source: annual report 2023, page 122; annual report 2024, page 122.出处：2023 年年报第 122 页；2024 年年报第 122 页。
Source: annual report 2024, page 148.出处：2024 年年报第 148 页。
Source: annual report 2025, page 138.出处：2025 年年报第 138 页。
Revenue, profit and operating cash营业额、年度利润与营运现金
Assets, borrowings and equity资产、借款与权益
20232023 年
Operating activities generated net cash of RM18,493,187. Financing cash outflows included RM14,001,592 repaid on term loans, RM8,101,577 net paid on revolving credit, and RM4,563,016 paid in dividends. Proceeds from the exercise of warrants were RM200,770. Cash spent on intangible assets was RM684,971 and on property, plant and equipment was RM319,984.营运活动产生现金净额 RM18,493,187。融资现金流出包括偿还定期贷款 RM14,001,592、净偿还循环信贷 RM8,101,577 及支付股息 RM4,563,016。行使凭单所得款项为 RM200,770。购置无形资产支付现金 RM684,971，购置物业、厂房及设备支付 RM319,984。
Source: annual report 2023, page 104.出处：2023 年年报第 104 页。
20242024 年
Operating activities used net cash of RM3,589,522. A private placement of 12,500,000 shares raised RM13,875,000, and term loans of RM13,482,171 were fully settled. Net proceeds from revolving credit were RM9,312,781, while dividends paid were RM6,152,607. Cash paid to acquire property, plant and equipment was RM1,025,163.营运活动所用现金净额为 RM3,589,522。私下配售 12,500,000 股筹集 RM13,875,000，定期贷款 RM13,482,171 悉数偿还。循环信贷所得净额为 RM9,312,781，支付股息 RM6,152,607。购置物业、厂房及设备支付现金 RM1,025,163。
Source: annual report 2024, pages 90, 102, 103, 122.出处：2024 年年报第 90、102、103、122 页。
20252025 年
Operating activities used net cash of RM6,655,352. Net loss on impairment of financial instruments and contract assets was RM12,299,111, including RM10,769,877 on contract assets. Net proceeds from revolving credit were RM20,784,154, while bank overdrafts reached RM36,242,034. Outflows included RM5,981,376 invested in an associate, RM10,846,573 placed in pledged deposits, and RM7,423,808 paid in dividends.营运活动所用现金净额为 RM6,655,352。金融工具及合同资产减值损失净额为 RM12,299,111，其中合同资产减值 RM10,769,877。循环信贷所得净额为 RM20,784,154，银行透支达 RM36,242,034。现金流出包括向联营公司投资 RM5,981,376、存放抵押存款 RM10,846,573 及支付股息 RM7,423,808。
Source: annual report 2025, pages 111, 115, 116, 137, 142.出处：2025 年年报第 111、115、116、137、142 页。
Across the three years三年合看
The order book grew from RM1,480.0 million at the end of 2023 to RM2,092.1 million in 2024 and RM2,157.8 million in 2025. Goodwill remained carried at RM162.7 million across all three years. Dividends were paid in 2023, 2024 and 2025; the directors recommended no final dividend for 2025.未完成订单从 2023 年底的 RM1,480.0 million 增至 2024 年的 RM2,092.1 million 及 2025 年的 RM2,157.8 million。商誉在三年间均保持为 RM162.7 million。2023、2024 及 2025 年均派付了股息；董事会建议 2025 年不派发终期股息。
Source: annual report 2023, pages 3, 150; annual report 2024, pages 21, 150; annual report 2025, pages 21, 105, 161.出处：2023 年年报第 3、150 页；2024 年年报第 21、150 页；2025 年年报第 21、105、161 页。
Still to be spent尚未支出的承诺
Capital commitments at 31 December 2025 stood at RM2.5 million, all authorised but not contracted. The remaining RM5.795 million from IPO proceeds at the end of 2023 was redirected in 2024 to repay subsidiary overdraft facilities and fully utilised.截至 2025 年 12 月 31 日，资本承诺为 RM2.5 million，均为已获批准但未签约的承诺。2023 年底剩余的 RM5.795 million 首次公开募股所得款项已于 2024 年变更改动用于偿还子公司透支额度并全额使用。
Source: annual report 2023, page 90; annual report 2024, page 89; annual report 2025, page 19.出处：2023 年年报第 90 页；2024 年年报第 89 页；2025 年年报第 19 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 | 2025 |
|---|---|---|---|---|
| RM令吉 | RM令吉 | RM令吉 | RM令吉 | |
| Revenue营业额 | 186,041,738 | 187,342,733 | 201,244,188 | 220,700,697 |
| Profit before tax税前利润 | 21,619,243 | 28,720,983 | 33,894,639 | 19,793,043 |
| Profit for the year年度利润 | 15,133,839 | 20,426,551 | 24,912,183 | 13,338,874 |
| Net cash from/(used in) operating activities营运活动所得/（所用）现金净额 | (568,038) | 18,493,187 | (3,589,522) | (6,655,352) |
| Acquisition of property, plant and equipment购置物业、厂房及设备 | (771,840) | (319,984) | (1,025,163) | (660,626) |
| Dividend paid已付股息 | 0 | (4,563,016) | (6,152,607) | (7,423,808) |
| Total assets总资产 | 403,696,119 | 376,225,172 | 418,127,713 | 464,902,185 |
| Loans and borrowings贷款与借款 | 57,444,393 | 39,431,147 | 35,618,479 | 74,640,430 |
| Cash and cash equivalents现金及现金等价物 | 30,364,223 | 19,963,396 | 14,867,004 | 26,108,841 |
| Total equity总权益 | 242,997,419 | 259,110,345 | 291,708,204 | 297,520,532 |
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 |
|---|---|---|
| To seek shareholders' approval for a variation of the remaining RM5.795 million of IPO proceeds to partially repay overdraft facilities by 31 December 2024就剩余 RM5.795 million 的首次公开募股所得款项寻求股东批准进行变更改动，以便在 2024 年 12 月 31 日前部分偿还透支额度 | Shareholders approved the variation on 6 June 2024, and the full RM5.795 million was utilised by the fourth quarter of 2024.股东于 2024 年 6 月 6 日批准该变动，全部 RM5.795 million 已在 2024 年第四季度前全额使用。 Source: annual report 2023, page 90; annual report 2024, page 89.出处：2023 年年报第 90 页；2024 年年报第 89 页。 | Carried out已执行 |
| To use the RM13,875,000 proceeds from the 12,500,000 share private placement to settle the company's term loan将配售 12,500,000 股所得的 RM13,875,000 专门用于结清公司的定期贷款 | The term loan of RM13,482,171 was fully settled on 27 February 2024, and the private placement was deemed completed with the listing of the 12,500,000 shares on 8 February 2024.RM13,482,171 的定期贷款于 2024 年 2 月 27 日悉数偿还，私下配售随 12,500,000 股于 2024 年 2 月 8 日上市而视为完成。 Source: annual report 2023, page 148; annual report 2024, pages 90, 122.出处：2023 年年报第 148 页；2024 年年报第 90、122 页。 | Carried out已执行 |
| The board was in the midst of identifying a suitable candidate to assume the role of GCEO董事会正在物色合适人选出任集团首席执行员 | Tan Sri Ir. Kunasingam A/L V.Sittampalam continued performing the GCEO function in 2024 and 2025 while the board remained in the midst of identifying a candidate.Tan Sri Ir. Kunasingam A/L V.Sittampalam 在 2024 和 2025 年继续代行首席执行员职务，董事会仍处于物色人选阶段。 Source: annual report 2023, page 71; annual report 2024, page 70; annual report 2025, page 85.出处：2023 年年报第 71 页；2024 年年报第 70 页；2025 年年报第 85 页。 | Still in progress仍在物色中 |
| To secure 25% of group revenue from international projects by 2027到 2027 年实现 25% 的集团营业额来自海外项目 | In 2025, Malaysia contributed 87.1% of revenue, and the group stated it continues to pursue its target of growing international revenue over time.2025 年马来西亚占营业额 87.1%，集团表示将继续致力于逐步提高海外收入占比。 Source: annual report 2024, page 8; annual report 2025, pages 18, 24.出处：2024 年年报第 8 页；2025 年年报第 18、24 页。 | Target period runs to 2027目标期至 2027 年 |
| Expected revenue and profitability to grow in the year ending 31 December 2025 (2024)预期截至 2025 年 12 月 31 日财年的营业额与盈利增长（2024） | Revenue rose from RM201,244,188 to RM220,700,697, while profit for the year fell from RM24,912,183 to RM13,338,874; the 2025 report puts the profit after tax of RM13.3 million down mainly to impairment provisions and a higher tax charge in the final quarter.营业额由 RM201,244,188 增至 RM220,700,697，而年度盈利由 RM24,912,183 降至 RM13,338,874；2025 年报称 RM13.3 million 的税后盈利主要受减值拨备及末季较高税项影响。 Source: annual report 2024, page 13; annual report 2025, page 16.出处：2024 年年报第 13 页；2025 年年报第 16 页。 | Revenue rose; profit fell营业额增长；盈利下降 |
What the reports leave open年报留下待看的事
- The High Court decided against associate HSSI on 2 October 2025 for RM3,424,753 in a subcontractor claim, with an application for stay heard on 12 March 2026 and decision reserved to 27 April 2026.高等法院于 2025 年 10 月 2 日就分包商索赔对联营公司 HSSI 做出 RM3,424,753 的不利判决，暂缓执行申请于 2026 年 3 月 12 日开庭审理，裁决保留至 2026 年 4 月 27 日。
Source: annual report 2025, page 138.出处：2025 年年报第 138 页。
- On 5 January 2026, associate HSSI was served with an amended writ and claim in a civil suit alleging breaches of duty of care regarding progress payment certificates for the MEX II project.2026 年 1 月 5 日，联营公司 HSSI 收到民事诉讼的修订传票和诉状，指控其在 MEX II 项目中期进度款证书的认证中违反注意义务。
Source: annual report 2025, page 159.出处：2025 年年报第 159 页。
- Trade receivables past due more than 365 days rose to RM23,587,936 at 31 December 2025, from RM12,559,105 a year earlier. Separately, RM22,845,267 of receivables were individually impaired, and contract assets were impaired by RM10,769,877.截至 2025 年 12 月 31 日，逾期超过 365 天的应收账款由一年前的 RM12,559,105 升至 RM23,587,936。另有 RM22,845,267 应收款项单独减值，合同资产减值 RM10,769,877。
Source: annual report 2024, page 136; annual report 2025, pages 142, 149.出处：2024 年年报第 136 页；2025 年年报第 142、149 页。
- Borrowings reached RM78.2 million at end 2025, with revolving credit of RM37,246,185 and bank overdrafts of RM36,242,034. Cash and cash equivalents in the cash flow statement were negative RM33,508,436.截至 2025 年底借款达 RM78.2 million，其中循环信贷为 RM37,246,185，银行透支为 RM36,242,034。现金流量表中的现金及现金等价物结余为负 RM33,508,436。
Source: annual report 2025, pages 18, 116, 137.出处：2025 年年报第 18、116、137 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。