Saliran Group Berhad (“Saliran” or the “Company”), an established supplier and distributor of pipes, fittings and flanges as well as related parts and accessories, and steel products today announced its financial results for the fourth quarter ended 31 December 2025 (“Q4 FY2025”), marking the completion of its first full financial year as a listed entity.
On a full-year basis, Saliran achieved revenue of RM486.06 million with PAT of RM10.25 million, reflecting sustained operational activity across domestic infrastructure and industrial segments.
Excluding one-off listing expenses of RM0.69 million incurred during the financial year, adjusted PBT would have been RM15.88 million.
On a quarter-on-quarter basis, revenue increased 2.63% from RM135.57 million in Q3 FY2025 to RM139.14 million in Q4 FY2025, supported by higher sales orders from local customers, with domestic revenue contribution strengthening to 93.50% during the quarter.
However, PAT moderated compared to the preceding quarter, primarily due to lower gross profit margin of 7.01% in Q4 FY2025 versus 11.12% in Q3 FY2025, attributable to higher exposure to lower-margin products, pricing adjustments, increased interest expenses to finance higher inventory levels, higher impairment losses on trade receivables, and impairment loss on other investments.
The supply and distribution segment remained the Group’s primary revenue driver, contributing RM137.59 million in Q4 FY2025, while the manufacturing segment contributed RM1.55 million. Export markets including Indonesia, Singapore, Vietnam, Thailand, Korea and the Middle East continued to provide geographic diversification, although domestic projects remained the key revenue anchor.
As at 31 December 2025, the Group’s total equity increased to RM73.67 million, up from RM43.44 million a year earlier, supported by IPO proceeds and retained earnings growth. Net assets per share strengthened to RM0.19, compared to RM0.14 previously.
As part of its IPO utilisation plan, RM14.38 million of the RM21.71 million gross proceeds have been utilised as at 31 December 2025, primarily for working capital, partial repayment of bank borrowings, machinery acquisition and initial steps towards establishing a sales office in Indonesia.
Mr. 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 remains mindful of global macroeconomic uncertainties, including geopolitical tensions, trade policy risks and foreign exchange volatility. However, Malaysia’s GDP growth of 4.4% in the first half of 2025 and projected full-year growth within the 4.0%–4.8% range provide a supportive domestic backdrop.
Moving forward, Saliran will continue focusing on cost discipline, operational efficiency, prudent inventory management and selective expansion initiatives to strengthen earnings resilience while executing its post-IPO growth roadmap.
For more information, visit https://saliran.com.my/.
