v3.26.3
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment reporting

Note 16 — Segment reporting

 

The Company operates mainly in three reportable segments. The Company evaluates segment performance based on operating income, excluding unallocated corporate expenses and certain non-recurring items.

 

The Company’s chief operating decision maker (CODM) has been identified as the Chief Executive Officer, Darren Hoo. Our CODM uses segment operating income (loss) to allocate resources to our segments in our quarterly planning process and to assess the performance of our segments, primarily by monitoring actual results versus the quarterly plan.

 

Basis of Segmentation

 

  ● Aquaculture and agriculture: Development, construction, and maintenance of aquaculture and agriculture farms and related works.
     
  ● Industrial solutions: Supply and installation of smart industrial technologies and solutions.
     
  ● Investment in marketable securities:    Pertained to the Group’s investment activities involving the holding, and trading of marketable financial instruments

 

Corporate level activities: Corporate-level activities and expenses that are not directly attributable to any reportable operating segment. These primarily include legal and professional fees related to regulatory compliance and IPO activities, as well as certain fines, penalties, and other general corporate costs

 

Segment Financial Information

 

The following table summarizes financial results for reportable segments:

 

    For the six months ended June 30, 2026  
    Aquaculture
and
agriculture		     Industrial
Solutions		     Investment in
marketable
securities		     Total  
    MYR     MYR     MYR     MYR  
Revenue     12,777,311       —       —       12,777,311  
Cost of revenue     (11,300,000 )     —       —       (11,300,000 )
Gross Profit     1,477,311       —       —       1,477,311  
General and administrative expenses     (1,384,907 )     (8,914 )     —       (1,393,821 )
Interest expenses     (10,909 )     —       —       (10,909 )
Allowance for expected credit losses     (1,409,106 )     —       —       (1,409,106 )
Fair value (loss)/gain on marketable securities     —       —       1,063,898       1,063,898  
Other income     203       —       —       203  
Operating income/(loss)     (1,327,408 )     (8,914 )     1,063,898       (272,424 )
Amount not allocated to segment                             (2,787,069 )
Loss before income tax                             (3,059,493 )
                                 
Segment assets     129,087,840       114       33,237,789       162,325,743  
Segment liabilities     77,937,157       6,719       11,890,714       89,834,590  

 

 

    For the six months ended June 30, 2025  
    Aquaculture
and
agriculture		     Industrial
Solutions		     Investment in
marketable
securities		     Total  
    MYR     MYR     MYR     MYR  
Revenue     13,868,859       75,954       —       13,944,813  
Cost of revenue     (11,568,375 )     (63,858 )     —       (11,632,233 )
Gross Profit     2,300,484       12,096       —       2,312,580  
General and administrative expenses     (304,365 )     (53,005 )     —       (357,370 )
Interest expenses     (12,667 )     —       —       (12,667 )
Reversal of allowance for expected credit losses     982,000       —       —       982,000  
Fair value (loss)/gain on marketable securities     —       —       (512,903 )     (512,903 )
Income from operations     46,333       —       11,223       57,556  
Operating income/(loss)     3,011,785       (40,909 )     (501,680 )     2,469,196  
                                 
Segment assets     78,289,647       171,532       22,657,679       101,118,858  
                                 
Segment liabilities     55,726,624       (99,960 )     (8,684,745 )     46,941,919