CUSCAPI BERHAD — Interim / Quarterly Report 2026

May 19, 2026

CUSCAPI BERHAD

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2026

(The figures have not been audited)

	Note	INDIVIDUAL QUARTER		CUMULATIVE QUARTER
		CURRENT PERIOD QUARTER ENDED 31/03/2026 RM	PRECEDING PERIOD QUARTER ENDED 31/03/2025 RM	CURRENT PERIOD TO DATE 31/03/2026 RM	PRECEDING PERIOD TO DATE 31/03/2025 RM
REVENUE	A8	7,901,056	7,317,483	7,901,056	7,317,483
COST OF GOOD SOLD		(1,250,134)	(1,519,813)	(1,250,134)	(1,519,813)
AMORTISATION OF INTANGIBLE ASSETS		(4,354,167)	(3,062,500)	(4,354,167)	(3,062,500)
GROSS PROFIT		2,296,755	2,735,170	2,296,755	2,735,170
OTHER OPERATING INCOME		147,708	11,077	147,708	11,077
OPERATING EXPENSES		(1,071,951)	(1,291,152)	(1,071,951)	(1,291,152)
PROFIT FROM OPERATIONS		1,372,512	1,455,095	1,372,512	1,455,095
FINANCE COSTS		(22,503)	(33,146)	(22,503)	(33,146)
SHARE OF RESULT OF ASSOCIATE		(27,253)	11,399	(27,253)	11,399
PROFIT BEFORE TAXATION		1,322,756	1,433,348	1,322,756	1,433,348
TAXATION	B4	(231,958)	(95,712)	(231,958)	(95,712)
PROFIT FOR THE PERIOD		1,090,798	1,337,636	1,090,798	1,337,636
OTHER COMPREHENSIVE INCOME
- FAIR VALUE LOSS ON OTHER INVESTMENT		(1,041)	(3,540)	(1,041)	(3,540)
- FOREIGN CURRENCY TRANSLATION		19,863	(12,321)	19,863	(12,321)
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD		1,109,620	1,321,775	1,109,620	1,321,775
PROFIT ATTRIBUTABLE TO:
OWNERS OF THE PARENT		1,093,397	1,341,031	1,093,397	1,341,031
NON-CONTROLLING INTEREST		(2,599)	(3,395)	(2,599)	(3,395)
		1,090,798	1,337,636	1,090,798	1,337,636
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO:
OWNERS OF THE PARENT		1,112,219	3,395	1,112,219	1,325,170
NON-CONTROLLING INTEREST		(2,599)	(3,395)	(2,599)	(3,395)
		1,109,620	0	1,109,620	1,321,775
Profit per share (sen)
- Basic	B10	0.12	0.14	0.12	0.14

The unaudited Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income should be read in conjunction with the audited financial statements for the financial year ended 31 December 2025 and the accompanying notes attached to the interim financial reports.

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CUSCAPI BERHAD

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

AS AT 31 MARCH 2026

	(UNAUDITED)AS AT31/03/2026RM	(AUDITED)AS AT31/12/2025RM
NON-CURRENT ASSETS
Property, plant and equipment	166,182	193,170
Right of use assets	1,296,223	1,472,673
Investment property	12,100,000	12,100,000
Intangible assets	34,628,668	34,182,834
Investment in associate	7,929,653	7,956,907
Other investments	6,140	7,182
Trade receivable	61,823	132,935
	56,188,689	56,045,701
CURRENT ASSETS
Inventories	376,449	428,789
Trade & other receivables, prepayment	9,850,426	2,695,476
Tax recoverable	277,684	286,348
Digital assets	5,719,430	5,719,430
Cash and cash equivalents	1,735,823	2,251,928
	17,959,812	11,381,971
TOTAL ASSETS	74,148,501	67,427,672
EQUITY
Share capital	203,374,573	203,374,573
Reserves	(145,252,956)	(146,365,175)
Equity attributable to owners of the parent	58,121,617	57,009,398
Non-controlling interest	(80,013)	(77,414)
TOTAL EQUITY	58,041,604	56,931,984
NON-CURRENT LIABILITIES
Lease liabilities	562,843	757,758
Provision and retirement benefits obligations	110,550	116,619
	673,393	874,377
CURRENT LIABILITIES
Lease liabilities	781,766	781,044
Trade & other payables	13,685,751	8,062,285
Current tax liabilities	965,987	777,982
	15,433,504	9,621,311
TOTAL LIABILITIES	16,106,897	10,495,688
TOTAL EQUITY AND LIABILITIES	74,148,501	67,427,672
Net assets per share attributable toowners of the parent (RM)	0.061	0.060

The unaudited Condensed Consolidated Statements of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 31 December 2025 and the accompanying notes attached to the interim financial reports.

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CUSCAPI BERHAD

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2026

(The figures have not been audited)

	Attributable to Owners of the Parent
	Share Capital RM	Other Reserve RM	Translation Reserve RM	Accumulated Loss RM	Total RM	Non-controlling Interest RM	Total Equity RM
As at 1 January 2026	203,374,573	(15,761,040)	12,599,392	(143,203,527)	57,009,398	(77,414)	56,931,984
Net profit for the year	-	-	-	1,093,397	1,093,397	(2,599)	1,090,798
Other comprehensive income
- Foreign currency translation	-	-	19,863	-	19,863	-	19,863
- Fair value loss on other investments	-	(1,041)	-	-	(1,041)	-	(1,041)
	-	(1,041)	19,863	1,093,397	1,112,219	(2,599)	1,109,620
As at 31 March 2026	203,374,573	(15,762,081)	12,619,255	(142,110,130)	58,121,617	(80,013)	58,041,604
	Share Capital RM	Other Reserve RM	Translation Reserve RM	Accumulated Loss RM	Total RM	Non-controlling Interest RM	Total Equity RM
As at 1 January 2025	203,374,573	(15,757,395)	12,786,994	(147,038,466)	53,365,706	(64,151)	53,301,555
Net profit for the year	-	-	-	1,341,031	1,341,031	(3,395)	1,337,636
Other comprehensive income
- Foreign currency translation	-	-	(12,321)	-	(12,321)	-	(12,321)
- Fair value loss on other investments	-	(3,540)	-	-	(3,540)	-	(3,540)
	-	(3,540)	(12,321)	1,341,031	1,325,170	(3,395)	1,321,775
As at 31 March 2025	203,374,573	(15,760,935)	12,774,673	(145,697,435)	54,690,876	(67,546)	54,623,330

The unaudited Condensed Consolidated Statements of Changes in Equity should be read in conjunction with the audited financial statements for the financial year ended 31 December 2025 and the accompanying notes attached to the interim financial reports.

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CUSCAPI BERHAD

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2026
(The figures have not been audited)

| | 31/03/2026
RM | 31/03/2025
RM |
| --- | --- | --- |
| CASH FLOWS FROM OPERATING ACTIVITIES | | |
| Profit before tax | 1,322,756 | 1,433,348 |
| Adjustments for :- | | |
| Non-cash items | 4,591,003 | 3,299,241 |
| Non-operating items | 17,013 | 28,184 |
| Operating profit before changes in working capital | 5,930,772 | 4,760,773 |
| Net changes in current assets | (7,013,586) | (4,357,876) |
| Net changes in current liabilities | 5,621,200 | (346,644) |
| Cash flows generated from operation | 4,538,386 | 56,253 |
| Taxation | (43,954) | (24,069) |
| Net cash generated from operating activities | 4,494,432 | 32,184 |
| CASH FLOWS FROM INVESTING ACTIVITIES | | |
| Interest received | 5,490 | 4,962 |
| Addition of intangible assets | (4,800,000) | - |
| Net changes of property, plant and equipment | - | 533 |
| Net cash (used in)/from investing activities | (4,794,510) | 5,495 |
| CASH FLOWS FROM FINANCING ACTIVITIES | | |
| Payment to lease liabilities | (216,027) | (216,027) |
| Net cash used in financing activities | (216,027) | (216,027) |
| NET CHANGES IN CASH AND CASH EQUIVALENTS | (516,105) | (178,348) |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF THE FINANCIAL YEAR | 2,251,928 | 2,977,455 |
| CASH AND CASH EQUIVALENTS AT THE END OF THE FINANCIAL YEAR | 1,735,823 | 2,799,107 |

The unaudited Condensed Consolidated Statements of Cash Flows should be read in conjunction with the audited financial statements for the financial year ended 31 December 2025 and the accompanying notes attached to the interim financial reports.

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CUSCAPI BERHAD

(Company No: 197801006160 (43190-H))

A. NOTES TO THE UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2026

A1. Basis of Preparation

The interim financial statements are unaudited and have been prepared in accordance with the requirements outlined in the Malaysian Financial Reporting Standards ("MFRS") No. 134: Interim Financial Reporting issued by the Malaysian Accounting Standards Board ("MASB") and Paragraph 9.22 of the Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities").

The interim financial statements should be read in conjunction with the Group's audited financial statements for the financial year ended 31 December 2025.

The same accounting policies and methods of computation adopted in these interim financial statements are consistent with the annual financial statements for the financial year ended 31 December 2025.

During the current financial period quarter, the Group has adopted the following new accounting standards and/or interpretations (including the consequential amendments, if any):-

MFRSs and/or IC Interpretations (Including The Consequential Amendments)

Annual improvements to MFRS Accounting Standards – Volume 11

Amendments to MFRS 7 and MFRS 9: Amendments to the Classification and Measurement of Financial Instruments

Amendments to MFRS 7 and MFRS 9: Contracts Referencing Nature-dependent Electricity

The adoption of the above accounting standard(s) and/or interpretation(s) (including the consequential amendments, if any) did not have any material impact on the Group consolidated financial statements.

The Group has not applied in advance the following accounting standards and/or interpretations (including the consequential amendments, if any) that have been issued by the Malaysian Accounting Standards Board ("MASB"):

MFRSs and/or IC Interpretations (Including The Consequential Amendments)	Effective Date
MFRS 18: Presentation and Disclosure in Financial Statements	1 January 2027
MFRS 19: Subsidiaries without Public Accountability: Disclosures	1 January 2027
MFRS 121: Translation to a Hyperinflationary Presentation Currency	1 January 2027
Amendments to MFRS 10 and MFRS 128: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture	Deferred

The initial application of the above-mentioned MFRSs is not expected to have any significant impacts on the financial statements of the Group and of the Company.

A2. Audit Report of the Preceding Annual Financial Statements

The Auditors' Report for the annual financial statements of the Group and Company in respect of the financial period quarter ended 31 December 2025 was not subject to any qualification.

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A3. Seasonal or Cyclical Factors

During the current financial quarter under review, the business operations of the Group are not affected by any significant seasonal or cyclical factors.

A4. Unusual Items Affecting Assets, Liabilities, Equity, Net Income or Cash Flows

There were no unusual items during the current financial quarter under review.

A5. Changes in Estimates

There were no material changes in the estimates of amounts that have a material effect on the current financial quarter results under review.

A6. Debt and Equity Securities

There was no issuance, cancellations, repurchases, resale and repayments of debt and equity securities during the current financial quarter under review.

A7. Dividends Paid

No dividend was paid during the current financial quarter under review.

A8. Segmental Reporting

The Group is primarily engaged in business segment of information technology ("IT") services. The segmental geographical revenue by region and results for the three (3) months financial period ended 31 March 2026 are as follows: -

| 31 MARCH 2026 | Malaysia
RM' 000 | Other than
Malaysia
RM' 000 | Elimination
RM' 000 | Consolidation
RM' 000 |
| --- | --- | --- | --- | --- |
| External Sales | 8,161 | 232 | (492) | 7,901 |
| Segment Results | 5,981 | (55) | - | 5,926 |
| Finance Cost | (15) | (8) | - | (23) |
| Depreciation and
Amortisation | (4,549) | (32) | - | (4,581) |
| Consolidated Profit
Before Tax | | | | |
| ASSETS | | | | |
| Segment Assets | 72,289 | 1,860 | - | 74,149 |
| LIABILITIES | | | | |
| Segment Liabilities | 14,718 | 1,389 | - | 16,107 |
| OTHER INFORMATION | | | | |
| Capital Expenditure on:- | | | | |
| Property, plant and
Equipment | - | - | - | - |
| Depreciation and
Amortisation | 4,549 | 32 | - | 4,581 |

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| 31 MARCH 2025 | Malaysia
RM' 000 | Other than Malaysia
RM' 000 | Elimination
RM' 000 | Consolidation
RM' 000 |
| --- | --- | --- | --- | --- |
| External Sales | 7,601 | 289 | (573) | 7,317 |
| Segment Results | 4,907 | (138) | - | 4,769 |
| Finance Cost | (24) | (9) | - | (33) |
| Depreciation and Amortisation | (3,269) | (34) | - | (3,303) |
| Consolidated Profit
Before Tax | | | | |
| ASSETS | | | | |
| Segment Assets | 70,193 | 2,542 | - | 72,735 |
| LIABILITIES | | | | |
| Segment Liabilities | 16,019 | 2,093 | - | 18,112 |
| OTHER INFORMATION | | | | |
| Capital Expenditure on:- | | | | |
| Property, plant and Equipment | - | - | - | - |
| Depreciation and Amortisation | 3,269 | 34 | - | 3,303 |

A9. Revaluation of Property, Plant and Equipment

The Group did not revalue any of its property, plant and equipment for the current financial quarter under review.

A10. Material Events Subsequent to the Current Financial Quarter

There were no material events subsequent to the current financial quarter.

A11. Changes in the Composition of the Group

There were no changes in the composition of the Group for the current financial quarter under review.

A12. Changes in Contingent Liabilities and Assets

There were no contingent liabilities and contingent assets since the last annual reporting date as at 31 December 2025.

A13. Capital Commitments

There were no capital commitments during the current financial quarter under review.

A14. Significant Related Party Transactions

There were no significant related party transactions entered into during the current financial quarter under review.

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CUSCAPI BERHAD

(Company No: 197801006160 (43190-H))

B. ADDITIONAL INFORMATION REQUIRED BY THE LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

B1 Review of Performance

B.1.1 Current Year Quarter Versus Preceding Year Quarter

	Current Year First (1st) Quarter 31 March 2026	Preceding Year First (1st) Quarter 31 March 2025	Variance
	RM	RM	RM	%
Revenue	7,901,056	7,317,483	583,573	8%
Profit before tax	1,322,756	1,433,348	(110,592)	-8%

For the current year quarter ended 31 March 2026 under review, the Group's revenue increased by 8% compared to the preceding year quarter ended 31 March 2025, mainly due to higher revenue from software and related sales.

For the current year quarter ended 31 March 2026 under review, the Group recorded a profit before taxation of RM1.32 million as compared to the preceding year quarter ended 31 March 2025 of profit before taxation of RM1.43 million, mainly attributable to:

Description	RM	Note
Decrease in gross profit	(438,415)	1
Increase in other operating income	136,631	2
Decrease in operating expenses	191,192	3
Net decrease in profit before tax	(110,592)

Notes:

1. Decrease in gross profit mainly is due to higher amortisation of intangible assets compared to the preceding year quarter ended 31 March 2025.
2. Increase in other operating income is mainly due to written off of customer deposit in current year quarter ended 31 March 2026.
3. Decrease in operating expenses is mainly due to lower staff-related costs and professional fee in the current year quarter ended 31 March 2026.

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B.1.2 Current Year Quarter Versus Immediate Preceding Quarter

	Current Year First (1st) Quarter 31 March 2026	Immediate Preceding Forth (4th) Quarter 31 December 2025	Variance
	RM	RM	RM	%
Revenue	7,901,056	7,249,875	651,181	9%
Profit before tax	1,322,756	303,184	1,019,572	>100%

For the current year quarter ended 31 March 2026 under review, the Group's revenue increased by 9% as compared to the immediate preceding quarter ended 31 December 2025, mainly attributable to:

Description	RM	Note
Increase in gross profit	724,749	1
Decrease in other operating income	(381,787)	2
Decrease in operating expenses	676,610	3
Net increase in profit before tax	1,019,572

Notes:

1. Increase in gross profit is mainly due to higher profit margin from software sales during the current year quarter ended 31 March 2026.
2. Decrease in other operating income is mainly due to tax refund and grant subsidies received from government in the immediate preceding quarter ended 31 December 2025.
3. Decrease in other operating expenses is mainly due to lower of professional fee, provision of doubtful debts and prepayment written off in the immediate preceding quarter ended 31 December 2025.

B2. Prospects

For the quarter ended 31 March 2026, the Group recorded improved revenue performance, mainly attributable to higher contribution from software and related sales. Notwithstanding this, profitability was impacted by higher amortisation of intangible assets arising from ongoing investments in product development.

The Group continues to prioritise strengthening its core offerings and enhancing its technology capabilities, including the development of new product features and solutions. At the same time, efforts to maintain cost discipline and improve operational efficiency remain ongoing.

Moving forward, the Group will continue to focus on expanding its customer base and strengthening its market presence, while progressing its initiatives to build sustainable and recurring revenue streams.

Barring any unforeseen circumstances, the Board remains cautiously optimistic on the Group's prospects for the financial year.

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B3. Profit Forecast

No financial forecast was announced or made hence, there was no comparison between actual results and the forecast.

B4. Taxation

	Individual Quarter Ended		Cumulative Period Ended
	31/03/2026	31/03/2025	31/03/2026	31/03/2025
	RM	RM	RM	RM
Current income tax provision	(231,958)	(95,712)	(231,958)	(95,712)
	(231,958)	(95,712)	(231,958)	(95,712)

B5. Corporate Proposals

No corporate proposals were announced during the financial year ended 31 December 2025.

B6. Group Borrowings and Debt Securities

There were no borrowings and issues of debt securities as at the current financial quarter end.

B7. Off Balance Sheet Financial Instruments

The Company does not have any financial instruments with off balance sheet risk during the current financial quarter end.

B8. Material Litigation

• COURT OF APPEAL PUTRAJAYA: W-02(IM)(NCvC)-713-04/2024
  (High Court of Malaya at Kuala Lumpur Suit No. WA-22NCvC-542-09/2023)

• APPELLANT: Her Chor Siong
  RESPONDENTS: the Company ("the 1st Respondent") & Former Principal Officer ("the 2nd Respondent") (collectively referred as "the Respondents")

Reference is made to the announcements dated 3 October 2023, 21 December 2023, 1 April 2024, 4 April 2024, 25 April 2024 and 5 August 2024.

The Parties had attended the hearing for Appeal 713 before the Court of Appeal held on 19 March 2025, wherein upon hearing submissions of parties, the Court of Appeal had unanimously allowed the Appellant's appeal with cost in the cause.

In consequence to Appeal 713 being allowed, the Court of Appeal had directed for Suit 542 to be heard before a different Judge at the High Court.

Cuscapi will make the necessary announcement on material development in respect of this from time to time.

B9. Dividends

The Board has not recommended any dividend for the financial quarter ended 31 March 2026.

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B10. Profit per Share

Basic profit per share

The profit per share is calculated by dividing the net profit attributable to ordinary owners of the parent by the weighted average number of ordinary shares in issue during the financial year.

	Individual Quarter Ended		Cumulative Period Ended
	31/03/2026	31/03/2025	31/03/2026	31/03/2025
	RM	RM	RM	RM
Profit attributable to owners of the parent (RM)	1,093,397	1,341,031	1,093,397	1,341,031
Weighted average number of ordinary share in use	944,884,476	944,884,476	944,884,476	944,884,476
Basic profit per share (sen)	0.12	0.14	0.12	0.14

The profit for the year attributable to the parent's ordinary equity holders is not subjected to any dilutive elements.

B11. Notes to the Statement of Profit and Loss and Other Comprehensive Income

The following items have been charged in arriving at profit before tax:

	Individual Quarter Ended		Cumulative Period Ended
	31/03/2026	31/03/2025	31/03/2026	31/03/2025
	RM	RM	RM	RM
Depreciation and amortisation	(4,581,447)	(3,302,863)	(4,581,447)	(3,302,863)
Interest expenses	(22,503)	(33,146)	(22,503)	(33,146)
Interest income	5,490	4,962	5,490	4,962
Provision for and write off of receivables	(4,957)	(7,179)	(4,957)	(7,179)

B12. Authorised for Issue

The Condensed Report was authorised for issue by the Board in accordance with a resolution of the Directors on 20 May 2026.