VSING Limited released its unaudited results for the six months ended 30 June 2026.
Financial highlights • Revenue edged down 3.02 % year-on-year to RM 54.14 million (H1 2025: RM 55.83 million). • Gross profit increased 35.67 % to RM 9.64 million, lifting gross margin to 17.8 % from 12.7 % a year earlier. • Selling and administrative expenses expanded 36.9 % to RM 13.83 million, while finance costs rose 72.2 % to RM 0.39 million. • Loss attributable to owners widened 52.9 % to RM 4.04 million; total net loss reached RM 3.53 million (H1 2025: RM 2.74 million). • Basic and diluted loss per share stayed at (0.37) sen. • Cash and bank balances stood at RM 5.22 million (31 Dec 2025: RM 6.00 million); net cash from operations improved to RM 3.18 million from an outflow of RM 7.34 million. • Net assets declined 10.4 % to RM 53.79 million; gearing ratio eased to 12.6 % (31 Dec 2025: 19.3 %).
Segment performance • Integrated logistics services: Revenue rose 11.4 % to RM 23.46 million, driven by a RM 2.61 million increase in sea-freight activities; segment loss before tax was RM 0.64 million. • Manufacturing & trading of plastic products: Revenue gained 25.4 % to RM 16.74 million; segment profit before tax reached RM 1.03 million, supported by an 18.0 % gross margin. • Trading of used mobile phones: Revenue fell 48.8 % to RM 10.95 million as the business pivots toward inspection services; segment loss before tax held at RM 0.63 million. • Interactive entertainment technology platform & software (VSING app and venue systems): Newly reported RM 2.99 million of revenue, posting a segment loss before tax of RM 1.39 million amid softer local nightlife demand.
Cash flow and balance sheet Operating activities generated RM 3.18 million, reversing the prior-year outflow. Investing outlays were minimal at RM 0.12 million. Net financing cash outflow totalled RM 1.98 million after loan repayments and lease servicing. Total borrowings decreased to RM 4.69 million, while lease liabilities fell to RM 2.06 million.
Dividend The Board declared no interim dividend for the period.
Outlook Management will continue refining the VSING entertainment platform, pursue regional expansion—highlighted by a July 2026 MOU to acquire Golfzon Hong Kong—and focus on operational efficiency across logistics, plastics manufacturing, and mobile-phone trading to strengthen overall profitability.
Governance Following director changes during the period, the company will restore full compliance with GEM Listing Rules on board and committee composition upon the appointment of an additional independent non-executive director effective 1 September 2026.
No material post-period events or significant capital commitments were reported.
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