METAXCHANGE
INVESTOR RELATIONS
JLG Industries, a unit of METAXCHANGE.AI
JLG Industries (M) Sdn Bhd
Reports and Financial Statements for the Year Ended 31st August 2025
Company No. 200801030509 (831840-M) · Incorporated in Malaysia
Directors' Report
Principal Activities & Financial Results
Principal Activities
Manufacturing, assembly, trading, import and export of electrical goods, medical devices, toys, other plastic products, and online business. No significant changes in activities during the year.

Financial Results (FY2025)
Loss After Tax
(RM 185,733)
Retained Earnings B/F
RM 1,737,055
Retained Earnings C/F
RM 1,551,322
No dividends were paid or declared. No shares or debentures were issued during the year.
Directors' Report
Directors, Shareholdings & Remuneration
Directors in Office
The following directors held office throughout the year:
Choong Wei Soon
490,000 ordinary shares — unchanged from prior year
Low Wink Keng
510,000 ordinary shares — unchanged from prior year
Directors' Remuneration
Statutory audit remuneration: RM 12,000 (2024: RM 15,000). No indemnities or insurance premiums were paid for directors or officers.
Financial Position
Statement of Financial Position — 31st August 2025
RM11.1M
Total Assets
2024: RM 11.77M
RM2.55M
Shareholders' Equity
2024: RM 2.74M
RM8.55M
Total Liabilities
2024: RM 9.03M
RM3.42M
Non-Current Assets
Incl. PPE RM 3.42M
Current Assets (RM 7.68M)
  • Inventories: RM 4,670,262
  • Trade receivables: RM 1,245,993
  • Other receivables & prepayments: RM 1,600,241
  • Cash & fixed deposits: RM 88,721
Liabilities Summary
  • Long-term borrowings: RM 4,480,915
  • Short-term borrowings: RM 2,255,271
  • Trade payables: RM 1,008,881
  • Hire purchase payables: RM 147,101
Income Statement
Statement of Comprehensive Income
Revenue declined significantly from RM 18.35M (2024) to RM 12.45M (2025). Despite a similar gross profit of RM 2.88M, rising administrative expenses and finance costs of RM 418,321 resulted in a net loss of RM 185,733 (2024: net profit RM 28,006). Other operating income of RM 303,535 included rental income of RM 146,400 and sub-let rental of RM 128,500.
Equity & Cash Flow
Changes in Equity & Cash Flow Summary
Statement of Changes in Equity
Cash Flow Highlights
Operating Activities
Net cash generated: RM 815,521 (2024: outflow RM 1,379,007)
Investing Activities
PPE purchases: (RM 141,604) (2024: RM 204,632)
Closing Cash Position
Net cash equivalents: (RM 590,422) including bank overdraft of RM 679,143
Key Notes
Property, Plant & Equipment and Inventories
PPE Carrying Amounts (2025 vs 2024)
Other Key Notes
Inventories
Electronic products at cost: RM 4,670,262 (2024: RM 4,481,771). Additions to PPE totalled RM 141,604, mainly motor vehicles and factory equipment.
Associated Companies
Investment of RM 3,001 in PGAM Group Sdn Bhd (30% equity, plastics export/import) and EZBOX Sdn Bhd (50% equity, wholesale electrical goods).
Borrowings
Total long-term loan: RM 6,057,043. Short-term borrowings include term loan portion RM 1,576,128 and bank overdraft RM 679,143. Secured by legal charge over leasehold property and director guarantees.
Administrative Expenses
Key Operating Expenses Breakdown
Total administrative and general expenses rose to RM 3,372,418 (2024: RM 3,091,512). Major cost drivers are shown below.
The Company employed 7 staff as at year end. Notable increases include rental of premises (+RM 129,371), casual wages (+RM 129,356), and invoice financing interest (+RM 44,486).
Audit & Compliance
Independent Auditors' Report & Statutory Declarations
Auditors' Opinion
Cheong, Lim & Associates (AF-1383) issued an unqualified (clean) opinion: the financial statements give a true and fair view of the Company's financial position as at 31st August 2025, in accordance with MPERS and the Companies Act, 2016.
The audit was conducted in accordance with approved standards on auditing in Malaysia and International Standards on Auditing. Auditors confirmed independence under MIA By-Laws and IESBA Code.
Statutory Declaration
Director Low Wink Keng (NRIC: 770120-06-5599), primarily responsible for financial management, solemnly declared the financial statements to be correct under the Statutory Declarations Act, 1960.
Both directors signed the Statement by Directors and Statutory Declaration on 10 February 2026 in Kuala Lumpur.
Auditor:
Cheong, Lim & Associates, Firm No. AF-1383, Chartered Accountants, Kuala Lumpur. Dated: 10 Feb 2026.
Signing Partner:
Yap Siok Teng, No. 1670/11/26(J), Partner
Summary
Financial Year 2025 — Key Takeaways
Revenue Decline
Revenue fell to RM 12.45M from RM 18.35M in 2024, resulting in a net loss of RM 185,733.
Strong Asset Base
Total assets of RM 11.1M anchored by leasehold property (RM 2.72M) and inventories (RM 4.67M).
Improved Cash Flow
Operating cash inflow of RM 815,521 — a significant turnaround from the RM 1.38M outflow in 2024.
Clean Audit Opinion
Financial statements comply with MPERS and Companies Act, 2016. Auditors expressed willingness to continue in office.