Kuala Lumpur, Feb 24: Saliran Group Berhad has reported RM486.06 million (AU$177 million) in revenue and RM10.25 million in profit after tax (PAT) for the financial year ended 31 December 2025, marking the company’s first full year of results since listing.
The pipe, fittings, flanges and steel products supplier said the full-year performance reflected sustained activity across Malaysia’s domestic infrastructure and industrial segments. Excluding one-off listing expenses of RM0.69 million, adjusted profit before tax (PBT) would have reached RM15.88 million.
Quarter-on-quarter, revenue rose 2.63% to RM139.14 million in Q4 FY2025 from RM135.57 million in Q3 FY2025, supported by stronger sales orders from local customers. Domestic revenue contribution increased to 93.50% during the quarter. However, PAT moderated due to margin pressures, with gross profit margin declining to 7.01% from 11.12% in the preceding quarter. The company attributed the softer margins to higher exposure to lower-margin products, pricing adjustments, increased interest expenses tied to higher inventory levels, as well as impairment losses on trade receivables and other investments.
Saliran’s supply and distribution segment remained the group’s core revenue driver, contributing RM137.59 million in Q4 FY2025, while the manufacturing segment added RM1.55 million. Export markets, including Indonesia, Singapore, Vietnam, Thailand, Korea and the Middle East, continued to provide geographic diversification, though domestic projects remained the primary revenue base.
As at 31 December 2025, total equity increased to RM73.67 million, up from RM43.44 million a year earlier, supported by IPO proceeds and retained earnings. Net assets per share strengthened to RM0.19, compared with RM0.14 previously.
Under its IPO utilisation plan, Saliran said RM14.38 million of the RM21.71 million gross proceeds had been deployed as at year-end. Funds were primarily channelled towards working capital, partial repayment of bank borrowings, machinery acquisition and early steps to establish a sales office in Indonesia.
Liaw Choon Wei, Executive Chairman of Saliran Group Berhad, commented: “FY2025 marks a significant milestone for Saliran as our first-year post-listing. Despite margin pressures in the final quarter, we delivered steady revenue growth and maintained profitability amid a dynamic operating environment. Our strong domestic presence, disciplined working capital management and strengthened balance sheet position us well to navigate macroeconomic uncertainties while capturing opportunities arising from infrastructure, industrial and energy-related projects.”
The group acknowledged ongoing global macroeconomic risks, including geopolitical tensions, trade policy uncertainties and foreign exchange volatility. Nonetheless, it noted that Malaysia’s GDP growth of 4.4% in the first half of 2025 and projected full-year growth of between 4.0% and 4.8% provide a supportive domestic outlook.
Looking ahead, Saliran said it will maintain focus on cost discipline, operational efficiency, prudent inventory management and selective expansion initiatives as part of its post-IPO growth strategy.
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