DailySpaceWD Berhad
0347 · ACE Market创业板（ACE Market） · annual reports 2025 to 2025, 118 entries read2025 至 2025 年报，共读出 118 条
The company这家公司
WD was listed on the ACE Market of Bursa Securities on 25 March 2025. The group provides construction services, specialising in civil engineering services particularly for property development, highways and urban rail construction projects, and operates predominantly in Malaysia. Since commencing operations in 2003, it has completed 104 projects with an aggregate contract value of RM473.17 million in construction services.WD 于 2025 年 3 月 25 日在马来西亚股票交易所创业板上市。集团提供建筑服务，专注于土木工程服务，特别针对房地产开发、公路和城市轨道建设项目，主要在马来西亚经营。自 2003 年开始运营以来，已在建筑服务领域完成 104 个项目，合同总额为 RM473.17 million。
Source: annual report 2025, pages 7, 21, 22, 111.出处：2025 年年报第 7、21、22、111 页。
Provision of construction services contributed RM162.50 million (2024: RM162.83 million), trading of construction materials RM13.54 million (2024: RM19.32 million), and hiring of machineries and commercial vehicles RM4.58 million (2024: RM6.39 million). The report states that despite the decrease in revenue, gross profit increased by RM0.65 million or 2.4% from RM26.61 million in FYE 2024 to RM27.26 million in FYE 2025, mainly contributed by construction services. In the segment note, construction gross profit rose RM0.73m while vehicle and machinery hiring gross profit rose RM1.27m (0.43m to 1.70m, margin 6.8% to 37.1%).建筑服务贡献了 RM162.50 million（2024 年：RM162.83 million），建材贸易贡献了 RM13.54 million（2024 年：RM19.32 million），机械与商用车辆租赁贡献了 RM4.58 million（2024 年：RM6.39 million）。年报指出，尽管营业额减少，毛利仍由 2024 财政年的 RM26.61 million 增加 RM0.65 million 或 2.4% 至 2025 财政年的 RM27.26 million，主要由建筑服务分部贡献。分部附注显示，建筑分部毛利增加 RM0.73m，而车辆与机械租赁毛利增加 RM1.27m（由 0.43m 增至 1.70m，利润率由 6.8% 升至 37.1%）。
Source: annual report 2025, pages 24, 25, 111.出处：2025 年年报第 24、25、111 页。
Four major customers contributed revenue of 46,258,556, 39,153,197, 35,564,263 and 35,422,544 in 2025. Two customers, Warisan Infra Sdn Bhd and Landasan Angsana Sdn Bhd, accounted for 45.5% of the total unbilled order book at 30 June 2025; collaboration agreements with them expire in 2026 and 2027 with no plans for renewal. The management discussion states 14 ongoing projects had an unbilled order book of RM378.03 million on page 22 and RM362.11 million on page 36, while Note 24 to the financial statements shows unsatisfied performance obligations of 335,316,306.2025 年四大主要客户分别贡献了 46,258,556、39,153,197、35,564,263 及 35,422,544 的营业额。两家客户 Warisan Infra Sdn Bhd 与 Landasan Angsana Sdn Bhd 占 2025 年 6 月 30 日未开单订单总额的 45.5%；与它们的合作协议分别于 2026 年和 2027 年到期，且无续约计划。管理层讨论指出 14 个进行中项目在第 22 页列出未开单订单额为 RM378.03 million，在第 36 页列出为 RM362.11 million，而财务报表附注 24 显示未履行的履约义务为 335,316,306。
Source: annual report 2025, pages 22, 29, 36, 101, 112.出处：2025 年年报第 22、29、36、101、112 页。
T Force Holdings Sdn. Bhd. is the holding company with 302,471,888 shares (56.00%). Executive Director Lim Soon Yik holds 75,618,022 shares (14.00%) directly and is deemed interested in T Force Holdings Sdn Bhd's 56.00%, while substantial shareholders Lim Soon Keat and Sich Kah Yong also hold deemed interests of 56.00% through T Force Holdings. Executive Director Lim Kok Seng is the spouse of Lee Pei Ting (Head of Human Resources and Administration) and uncle of Lim Soon Yik and Lim Soon Keat. The thirty largest holders include a Pledged Securities Account for Lee Seng Chi.T Force Holdings Sdn. Bhd. 为控股公司，持有 302,471,888 股（56.00%）。执行董事 Lim Soon Yik 直接持有 75,618,022 股（14.00%），并对 T Force Holdings Sdn Bhd 的 56.00% 持股拥有视同权益；主要股东 Lim Soon Keat 与 Sich Kah Yong 亦通过 T Force Holdings 各自拥有 56.00% 的视同权益。执行董事 Lim Kok Seng 是人力资源与行政主管 Lee Pei Ting 的配偶，也是 Lim Soon Yik 和 Lim Soon Keat 的叔父。前三十大股东包含以 Lee Seng Chi 为名的抵押证券账户。
Source: annual report 2025, pages 11, 12, 76, 129, 130.出处：2025 年年报第 11、12、76、129、130 页。
On 30 July 2025, Datuk Ir. Chow Pui Hee resigned from the board, and Ms Gladys Mak Sow Lin was appointed as an Independent Non-Executive Director.2025 年 7 月 30 日，Datuk Ir. Chow Pui Hee 辞去董事职务，Ms Gladys Mak Sow Lin 获委任为独立非执行董事。
Source: annual report 2025, pages 15, 73.出处：2025 年年报第 15、73 页。
Revenue by segment, 2025 (RM'000)2025 年各部门营业额（千令吉）
Source: annual report 2025, page 24.出处：2025 年年报第 24 页。
Major events大事记
Source: annual report 2025, page 97.出处：2025 年年报第 97 页。
Source: annual report 2025, page 25.出处：2025 年年报第 25 页。
Source: annual report 2025, page 25.出处：2025 年年报第 25 页。
Source: annual report 2025, pages 21, 75.出处：2025 年年报第 21、75 页。
Source: annual report 2025, page 36.出处：2025 年年报第 36 页。
Source: annual report 2025, page 36.出处：2025 年年报第 36 页。
Source: annual report 2025, pages 15, 73.出处：2025 年年报第 15、73 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Assets, borrowings and equity资产、借款与权益
20252025 年
Operating activities generated RM3,265,275. Financing activities brought 25,682,450 from share issuance, while term loans and invoice financing had drawdowns of 4,150,000 and 24,811,476 against repayments of 2,235,789 and 19,913,866. Lease liability repayments were 15,656,230 and interest paid was 3,335,333. The management review states gearing was 0.47 times (2024: 0.81 times) from a reduction of bank borrowings and lease liabilities; in the financial statements, bank borrowings rose 36% from RM15.45m (15,447,628) to RM21.07m (21,069,941), while lease liabilities fell from 38,690,799 to 26,921,441. The review also describes an RM8.85 million net repayment of bank borrowings; the cash flow statement shows lease repayments of RM15.66m while bank borrowings had a net drawdown of RM6.81m.营运活动产生现金 RM3,265,275。融资活动中发行股份获得 25,682,450，定期贷款与发票融资分别提取 4,150,000 与 24,811,476，偿还 2,235,789 与 19,913,866。租赁负债偿还 15,656,230，支付利息 3,335,333。管理层报告表示负债比率因银行借款和租赁负债减少而降至 0.47 倍（2024 年：0.81 倍）；在财务报表中，银行借款从 RM15.45m（15,447,628）增加 36% 至 RM21.07m（21,069,941），而租赁负债从 38,690,799 减少至 26,921,441。管理层亦叙述了 RM8.85 million 的银行借款净还款；现金流量表显示租赁偿还为 RM15.66m，而银行借款为净提取 RM6.81m。
Source: annual report 2025, pages 26, 27, 83, 103, 104.出处：2025 年年报第 26、27、83、103、104 页。
At year end年末情况
At 30 June 2025, cash and bank balances were RM24,238,791. Trade receivables and contract assets totalled RM110,742,813, which represents 52.9% of total assets, including retention sums of RM19,779,865 (2024: RM16,715,830). Trade receivables past due more than 91 days not impaired were RM9,688,501 (2024: RM10,575,140). Bank guarantees given to customers and suppliers for performance bonds amounted to RM10,599,707 (2024: RM10,447,991). The group does not have a formal dividend policy.截至 2025 年 6 月 30 日，现金与银行结余为 RM24,238,791。应收贸易账款及合同资产共计 RM110,742,813，占总资产的 52.9%，其中包括保固金 RM19,779,865（2024 年：RM16,715,830）。逾期超过 91 天但未减值的应收账款为 RM9,688,501（2024 年：RM10,575,140）。作为履约保函向客户和供应商开出的银行担保为 RM10,599,707（2024 年：RM10,447,991）。集团目前没有正式的股息政策。
Source: annual report 2025, pages 30, 99, 100, 118, 123.出处：2025 年年报第 30、99、100、118、123 页。
Still to be spent尚未支出的资金
From the RM27,006,450 raised from the initial public offering, RM12.26 million was utilised and RM14.75 million remained unutilised. The unspent balance comprises RM6.96 million for the purchase of machineries and commercial vehicles, RM3.85 million for repayment of bank borrowings, RM2.92 million for project working capital, RM0.71 million for general working capital, and RM0.30 million for office renovations. Capital commitments for property, plant and equipment contracted for were 6,960,000.首次公开募股筹集的 RM27,006,450 中，已使用 RM12.26 million，尚有 RM14.75 million 未使用。未动用余额包括购买机械及商用车辆 RM6.96 million、偿还银行借款 RM3.85 million、项目营运资金 RM2.92 million、一般营运资金 RM0.71 million 以及办公室装修 RM0.30 million。已签约的物业、厂房及设备资本承诺为 6,960,000。
Source: annual report 2025, pages 75, 121, 127.出处：2025 年年报第 75、121、127 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 | 2024 | 2025 |
|---|---|---|
| RM令吉 | RM令吉 | |
| Revenue营业额 | 188,541,096 | 180,620,517 |
| Profit before tax税前盈利 | 15,684,799 | 15,133,527 |
| Profit for the financial year财政年度盈利 | 11,323,957 | 10,359,407 |
| Net cash from operating activities营运活动所得现金净额 | 14,107,112 | 3,265,275 |
| Acquisition of property, plant and equipment添置物业、厂房与设备 | (1,120,754) | (926,728) |
| Total assets总资产 | 173,122,795 | 208,751,747 |
| Total liabilities总负债 | 106,750,258 | 106,337,353 |
| Loans and borrowings贷款与借款 | 15,447,628 | 21,069,941 |
| Cash and bank balances现金与银行结余 | 9,810,045 | 24,238,791 |
| Total equity总权益 | 66,372,537 | 102,414,394 |
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
Only one annual report has been read so far, so there is no later report to check its plans against.目前只读了一份年报，还没有之后的年报可以对照它的计划。
What the reports leave open年报留下待看的事
- Warisan Infra Sdn Bhd and Landasan Angsana Sdn Bhd accounted for 45.5% of unbilled order book at 30 June 2025, and collaboration agreements expire in 2026 and 2027 with no plans for renewal.截至 2025 年 6 月 30 日，Warisan Infra Sdn Bhd 与 Landasan Angsana Sdn Bhd 占未开单订单总额的 45.5%，且合作协议将于 2026 年和 2027 年到期，目前无续约计划。
Source: annual report 2025, page 29.出处：2025 年年报第 29 页。
- At 30 June 2025, the group had 38 pending tenders awaiting decision amounting to approximately RM1.61 billion, and intends to tender for projects above RM100.00 million.截至 2025 年 6 月 30 日，集团有 38 项等待决策的投标，金额约为 RM1.61 billion，并打算竞标超过 RM100.00 million 的项目。
Source: annual report 2025, pages 23, 30.出处：2025 年年报第 23、30 页。
- Whether the remaining RM14.75 million of unutilised IPO proceeds, including RM3.85 million allocated for repayment of bank borrowings, is deployed within the 12-month timeframe.未动用的 RM14.75 million 首次公开募股款项（包括分配用于偿还银行借款的 RM3.85 million）是否在 12 个月内如期动用。
Source: annual report 2025, page 127.出处：2025 年年报第 127 页。
- Two customers constituted 66% of trade receivables at 30 June 2025, and trade receivables past due more than 91 days not impaired stood at RM9,688,501.截至 2025 年 6 月 30 日，两家客户占应收贸易账款的 66%，逾期超过 91 天但未减值的应收账款为 RM9,688,501。
Source: annual report 2025, pages 99, 115.出处：2025 年年报第 99、115 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。