DailySpaceMTAG Group Berhad
0213 · ACE Market创业板（ACE Market） · annual reports 2023 to 2025, 438 entries read2023 至 2025 年报，共读出 438 条
The company这家公司
MTAG converts materials including mesh, filter media, tapes and adhesives, and prints labels and stickers, alongside a distribution business.MTAG 从事滤网、过滤介质、胶带及粘合剂等材料的转换加工，并印制标签贴纸，同时经营分销业务。
Source: annual report 2023, pages 8, 20, 103.出处：2023 年年报第 8、20、103 页。
In FY2023, converting contributed 75.2% or RM115.8 million of total revenue and distribution contributed 24.8% or RM38.1 million; in FY2025, converting accounted for 78.4% or RM57.6 million and distribution 21.6% or RM15.8 million. The domestic market accounted for 85.4% or RM131.5 million of revenue in FY2023, and 87.7% or RM64.4 million in FY2025.2023 财政年度，转换部门贡献总营业额的 75.2%（RM115.8 million），分销业务占 24.8%（RM38.1 million）；2025 财政年度，转换部门占 78.4%（RM57.6 million），分销业务占 21.6%（RM15.8 million）。马来西亚本地市场在 2023 财政年度占营业额的 85.4%（RM131.5 million），在 2025 财政年度占 87.7%（RM64.4 million）。
Source: annual report 2023, pages 20, 21; annual report 2025, pages 17, 18.出处：2023 年年报第 20、21 页；2025 年年报第 17、18 页。
Revenue comes from a few major customers, and the industry typically has no long-term contracts with them. In 2023, Customer A accounted for RM58,576,071 of converting revenue and RM94,692,391 in 2022. During 2023 the group filed a claim against ATA for RM2,141,255 and served a notice of demand on Jabco for RM27,551,305.59 for orders not taken or paid for; the claim against Jabco was reduced to RM4,090,165 in August 2024.营业额来自少数主要客户，而这一行业通常不与客户订立长期合约。2023 年，客户 A 在转换业务中占 RM58,576,071（2022 年：RM94,692,391）。2023 年内，集团就 ATA 未提货也未付款的订单向 ATA 索赔 RM2,141,255，并就未交付也未付款的订单向 Jabco 发出追讨信，金额 RM27,551,305.59；对 Jabco 的索赔金额于 2024 年 8 月缩减至 RM4,090,165。
Source: annual report 2023, pages 22, 131, 132; annual report 2024, page 131.出处：2023 年年报第 22、131、132 页；2024 年年报第 131 页。
Managing Director Chaw Kam Shiang holds 355,000,000 shares (52.349%) directly and has a deemed interest in 97,431,724 shares (14.368%) through his spouse and children as at 2025. His spouse Ang Yam Fung directly holds 66,757,724 shares (9.844%). In the list of top holders, Chaw Kam Shiang holds 305,000,000 shares (44.976%) in his own name, and Alliancegroup Nominees (Tempatan) Sdn. Bhd. holds 40,000,000 shares (5.898%) printed with a pledged securities account for Chaw Kam Shiang.截至 2025 年，董事经理 Chaw Kam Shiang 直接持有 355,000,000 股（52.349%），并通过配偶与子女视同持有 97,431,724 股（14.368%）。其配偶 Ang Yam Fung 直接持有 66,757,724 股（9.844%）。在前列股东名单中，Chaw Kam Shiang 以本人名义持有 305,000,000 股（44.976%），Alliancegroup Nominees (Tempatan) Sdn. Bhd. 持有 40,000,000 股（5.898%），名下注明为 Chaw Kam Shiang 的质押证券账户。
Source: annual report 2025, pages 120, 121.出处：2025 年年报第 120、121 页。
Chaw Kam Shiang is the spouse of Chief Human Resource Officer Ang Yam Fung, and parent of Executive Director Elly Chaw, who was appointed on 6 December 2024. Lau Cher Liang resigned from the Board on 30 October 2024; the 2025 report shows his 90,355,144 shares falling to nil during the year.Chaw Kam Shiang 是首席人力资源总监 Ang Yam Fung 的配偶，也是执行董事 Elly Chaw 的父亲，后者于 2024 年 12 月 6 日获任。Lau Cher Liang 于 2024 年 10 月 30 日辞去董事职务；2025 年报显示他的 90,355,144 股在年内减至零。
Source: annual report 2024, page 12; annual report 2025, pages 10, 11, 15, 63.出处：2024 年年报第 12 页；2025 年年报第 10、11、15、63 页。
Revenue by segment, 20252025 年各部门营业额占比
Source: annual report 2025, page 17.出处：2025 年年报第 17 页。
Revenue by geography, 20252025 年各地区营业额占比
Source: annual report 2025, page 18.出处：2025 年年报第 18 页。
Major events大事记
Source: annual report 2023, pages 17, 117.出处：2023 年年报第 17、117 页。
Source: annual report 2023, page 16; annual report 2024, pages 8, 72.出处：2023 年年报第 16 页；2024 年年报第 8、72 页。
Source: annual report 2024, pages 7, 23.出处：2024 年年报第 7、23 页。
Source: annual report 2024, page 12; annual report 2025, pages 11, 15.出处：2024 年年报第 12 页；2025 年年报第 11、15 页。
Source: annual report 2025, pages 7, 17, 119.出处：2025 年年报第 7、17、119 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Liquid investments and equity流动投资与权益
20232023 年
In 2023, net cash from operations was RM41,073,543. Capital spending on property, plant and equipment took RM6,698,196, and the group acquired Super Gold Industrial Sdn. Bhd. for RM1.5 million (RM1,248,616 net of cash acquired). The group placed RM110,084,963 in other investments, realised RM82,957,273 from other investments, and withdrew RM14,553,538 of fixed deposits. Dividends paid were RM20,448,522, while term loan repayments took RM26,183 and lease principal repayments took RM256,776.2023 年，营运活动现金净额为 RM41,073,543。物业、厂房及设备资本支出耗费 RM6,698,196，集团以 RM1.5 million 收购 Super Gold Industrial Sdn. Bhd.（扣除所得现金后为 RM1,248,616）。集团在其他投资中投入 RM110,084,963，自其他投资套现 RM82,957,273，并提取 RM14,553,538 定期存款。支付股息 RM20,448,522，偿还定期贷款 RM26,183 及租赁本金 RM256,776。
Source: annual report 2023, pages 16, 79, 80.出处：2023 年年报第 16、79、80 页。
20242024 年
In 2024, net cash from operations was RM32,981,757. The group acquired Jostar Sdn. Bhd. for RM8,676,826 (RM8,481,007 net of cash acquired), of which RM8.0 million came from IPO proceeds. An impairment loss on goodwill of RM1,961,260 was recorded. The group spent RM10,660,832 purchasing investment property and RM991,674 on property, plant and equipment. Fixed deposits of RM44,327,850 were withdrawn, while RM158,697,408 was placed into other investments and RM100,127,408 was realised from other investments. Dividends paid were RM13,632,348, while bank overdraft repayments took RM613,122, term loan repayments took RM107,584 and lease principal repayments took RM505,865.2024 年，营运活动现金净额为 RM32,981,757。集团以 RM8,676,826 收购 Jostar Sdn. Bhd.（扣除所得现金后为 RM8,481,007），其中 RM8.0 million 来自首次公开募股款项。集团录得商誉减值亏损 RM1,961,260。集团耗资 RM10,660,832 购置投资产业，并耗资 RM991,674 购置物业、厂房及设备。自定期存款提取 RM44,327,850，向其他投资投入 RM158,697,408，自其他投资变现 RM100,127,408。支付股息 RM13,632,348，偿还银行透支 RM613,122、定期贷款 RM107,584 及租赁本金 RM505,865。
Source: annual report 2024, pages 19, 72, 79, 80.出处：2024 年年报第 19、72、79、80 页。
20252025 年
In 2025, net cash from operations was RM40,567,047. The group spent RM7,543,407 on investment property and RM796,897 on property, plant and equipment. The company incorporated MTAG Industrial Pte Ltd. and increased its investment in it for the acquisition of a factory building in Singapore, funded through internally generated funds. Dividends paid were RM13,593,824, and the company bought back 1,926,200 shares for RM589,211. Bank overdraft repayments were RM380,591 and lease principal repayments RM452,884. The overdraft was fully settled and the group had no borrowings at 30 June 2025.2025 年，营运活动现金净额为 RM40,567,047。集团在投资产业上支出 RM7,543,407，在物业、厂房及设备上支出 RM796,897。公司设立 MTAG Industrial Pte Ltd.，并增加对其投资以收购新加坡一栋厂房，资金来自内部资金。支付股息 RM13,593,824，公司斥资 RM589,211 回购 1,926,200 股。偿还银行透支 RM380,591，偿还租赁本金 RM452,884。银行透支已全数偿清，集团在 2025 年 6 月 30 日没有借款。
Source: annual report 2025, pages 7, 19, 64, 76, 77, 97.出处：2025 年年报第 7、19、64、76、77、97 页。
Across the three years三年合看
Across the three years, other investments grew from RM51,003,712 in 2023 to RM112,899,167 in 2024 and RM127,456,713 in 2025, while fixed deposits fell from RM70,277,114 in 2023 to RM25,910,764 in 2024 and were RM29,702,475 in 2025. Fair value gains on other investments were RM1,009,542 in 2023, RM3,182,361 in 2024 and RM3,841,138 in 2025. Dividends were 3.0 sen per share (RM20.4 million) in 2023, 2.0 sen (RM13.6 million) in 2024 and 2.0 sen (RM13.6 million) in 2025, with the payout ratio moving from 68.0% to 67.2% and 110.1% of net profit.三年合看，其他投资由 2023 年的 RM51,003,712 增至 2024 年的 RM112,899,167 及 2025 年的 RM127,456,713，而定期存款由 2023 年的 RM70,277,114 降至 2024 年的 RM25,910,764，2025 年为 RM29,702,475。其他投资的公允价值收益在 2023 年为 RM1,009,542，2024 年为 RM3,182,361，2025 年为 RM3,841,138。股息在 2023 年为每股 3.0 仙（RM20.4 million），2024 年为 2.0 仙（RM13.6 million），2025 年为 2.0 仙（RM13.6 million），派息率从净利的 68.0% 变为 67.2% 及 110.1%。
Source: annual report 2023, pages 16, 107; annual report 2024, pages 16, 102; annual report 2025, pages 14, 92.出处：2023 年年报第 16、107 页；2024 年年报第 16、102 页；2025 年年报第 14、92 页。
Still to be spent尚未支出的承诺
At the end of FY2025, RM15.0 million of IPO proceeds remained unutilised, comprising RM9.5 million for land acquisition and factory development and RM5.5 million for capital expenditure, with the utilisation timeframe extended for 12 months from 23 August 2025. Capital commitments contracted for freehold land and building stood at RM11,828,858.截至 2025 财政年度末，首次公开募股款项尚有 RM15.0 million 未动用，包括用于土地收购与厂房开发的 RM9.5 million 以及用于资本支出的 RM5.5 million，动用期限自 2025 年 8 月 23 日起延长 12 个月。已签约的永久地契土地与建筑物资本承诺为 RM11,828,858。
Source: annual report 2025, pages 17, 103.出处：2025 年年报第 17、103 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 | 180,162,535 | 153,912,270 | 105,956,489 | 73,387,667 |
| Profit before tax税前盈利 | 39,772,814 | 39,582,419 | 26,521,915 | 15,390,793 |
| Profit for the financial year年度盈利 | 30,082,281 | 30,070,983 | 20,285,263 | 12,348,613 |
| Net cash flows from operating activities营运活动所得现金净额 | 29,978,138 | 41,073,543 | 32,981,757 | 40,567,047 |
| Purchase of property, plant and equipment购置物业、厂房及设备 | (4,261,509) | (6,698,196) | (991,674) | (796,897) |
| Dividend paid已付股息 | (20,448,522) | (20,448,522) | (13,632,348) | (13,593,824) |
| Other investments其他投资 | 22,770,242 | 51,003,712 | 112,899,167 | 127,456,713 |
| Fixed deposits with licensed banks持牌银行定期存款 | 84,830,652 | 70,277,114 | 25,910,764 | 29,702,475 |
| Cash and bank balances现金与银行结余 | 19,971,509 | 23,139,099 | 9,155,133 | 8,578,646 |
| Total assets总资产 | 233,910,114 | 228,970,881 | 235,276,917 | 244,470,065 |
| Total equity总权益 | 202,542,195 | 213,519,988 | 220,172,903 | 218,305,584 |
| Total liabilities总负债 | 31,367,919 | 15,450,893 | 15,104,014 | 26,164,481 |
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 consolidate the operations of Super Gold and Jostar within the newly acquired facility (2024)计划把 Super Gold 与 Jostar 的营运整合至新收购的厂房中（2024） | The 2025 report says the group kept Super Gold and Jostar at their existing facilities in view of prevailing market conditions, and that this allowed it to earn rental income from the factory acquired in FY2024.2025 年报说，鉴于当前市场情况，集团让 Super Gold 与 Jostar 留在各自现有厂房运作，并说这让集团能从 2024 财政年度收购的厂房赚取租金收入。 Source: annual report 2024, page 17; annual report 2025, pages 14, 16.出处：2024 年年报第 17 页；2025 年年报第 14、16 页。 | Plan changed计划调整 |
| To acquire a factory building for RM10,000,000 contracted on 24 June 2023, increasing property, plant and equipment in FY2024于 2023 年 6 月 24 日签约以 RM10,000,000 收购一栋厂房，将在 2024 财政年度计入物业、厂房及设备 | Acquisition completed in February 2024 for RM10.0 million funded from reallocated IPO proceeds.于 2024 年 2 月完成收购，耗资 RM10.0 million，由重新分配的首次公开募股款项出资。 Source: annual report 2023, page 117; annual report 2024, pages 7, 23, 114.出处：2023 年年报第 117 页；2024 年年报第 7、23、114 页。 | Carried out已执行 |
| To acquire a new subsidiary for RM8,500,000 under a share purchase agreement entered on 26 April 2023根据 2023 年 4 月 26 日签署的股份认购协议以 RM8,500,000 收购一家新子公司 | The 2024 report shows the acquisition of 100% of Jostar completed on 31 October 2023 for RM8,676,826; the reports do not say whether Jostar is the subsidiary of the April 2023 agreement.2024 年报显示，集团于 2023 年 10 月 31 日以 RM8,676,826 完成收购 Jostar 100% 股权；年报未说明 Jostar 是否即 2023 年 4 月协议所指的子公司。 Source: annual report 2023, page 132; annual report 2024, pages 8, 72.出处：2023 年年报第 132 页；2024 年年报第 8、72 页。 | Jostar acquired; link to the agreement not stated已收购 Jostar；与该协议的关系未说明 |
| To deploy RM9.6 million of IPO proceeds within 12 months to construct a new plant on land acquired in May 2023在 12 个月内动用 RM9.6 million 首次公开募股款项，在 2023 年 5 月购入的土地上兴建新厂房 | The timeframe was extended for 12 months in August 2024, and extended for another 12 months in August 2025 with RM9.5 million still unspent.动用期限于 2024 年 8 月延长 12 个月，并于 2025 年 8 月再次延长 12 个月，尚有 RM9.5 million 未动用。 Source: annual report 2023, pages 17, 20; annual report 2024, page 20; annual report 2025, page 17.出处：2023 年年报第 17、20 页；2024 年年报第 20 页；2025 年年报第 17 页。 | Timeframe extended期限延长 |
What the reports leave open年报留下待看的事
- Whether the remaining RM15.0 million of IPO proceeds (RM9.5 million for land acquisition and plant development and RM5.5 million for capital expenditure) is deployed before the extended deadline of 23 August 2026.剩余的 RM15.0 million 首次公开募股款项（RM9.5 million 用于土地与厂房开发，RM5.5 million 用于资本支出）能否在延长至 2026 年 8 月 23 日的期限前动用。
Source: annual report 2025, page 17.出处：2025 年年报第 17 页。
- Capital commitments contracted for freehold land and building of RM11,828,858 at 30 June 2025.截至 2025 年 6 月 30 日已签约的永久地契土地与建筑物资本承诺 RM11,828,858。
Source: annual report 2025, page 103.出处：2025 年年报第 103 页。
- Future minimum lease receipts on investment property operating leases, standing at RM3,113,431 at 30 June 2025 (RM1,205,712 within 1 year and RM1,907,719 after 1 year).投资产业经营租赁的未来最低应收租金，截至 2025 年 6 月 30 日为 RM3,113,431（1 年内 RM1,205,712，1 年后 RM1,907,719）。
Source: annual report 2025, page 97.出处：2025 年年报第 97 页。
- Revenue from Customer A in converting: RM5,547,749 in 2025, against RM17,976,194 in 2024.客户 A 在转换业务的营业额：2025 年 RM5,547,749，2024 年 RM17,976,194。
Source: annual report 2025, page 117.出处：2025 年年报第 117 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。