IFCA MSC BERHAD — Interim / Quarterly Report 2026

May 21, 2026

IFCA MSC BERHAD
(Company No: 199701037892/453392-T)
(Incorporated in Malaysia)

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE 1ST QUARTER ENDED 31 MARCH 2026

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IFCA MSC BERHAD (Company No: 199701037892/453392-T)

(Incorporated in Malaysia)

Condensed Statement of Comprehensive Income

For the Three Months Period Ended 31 March 2026

	Quarter and Year-to-date Ended
	Note	3 months ended
		31.3.2026 RM	31.3.2025 RM
Continuing Operations
Revenue		18,590,643	20,590,084
Other income		520,498	592,985
Employee benefits expenses		(12,407,793)	(12,789,031)
Changes in inventories		(2,940)	(63,782)
Depreciation of Property, Plant & Equipment and Right-of-use assets		(335,090)	(320,028)
Amortisation of development costs		(1,390,097)	(1,139,677)
Other expenses		(4,599,247)	(4,938,134)
Profit before impairment losses		375,974	1,932,417
Impairment losses on:
Contract Asset		51,098	(15,672)
Trade Receivables		(219,133)	(802,268)
Profit from operations		207,939	1,114,477
Finance costs		(6,504)	(12,080)
Profit before tax from continuing operations		201,435	1,102,397
Income tax expense	B5	(88,839)	(530,510)
Profit for the year, net of tax		112,596	571,887
Profit attributable to:
Owners of the Company		40,776	316,515
Non-controlling interest		71,820	255,372
		112,596	571,887
Other comprehensive income/(expense):
Profit for the year, net of tax		112,596	571,887
Foreign currency translation		(328,908)	(479,290)
Total comprehensive (expense)/income for the year		(216,312)	92,597
Attributable to:
Owners of the Company		(288,132)	(162,775)
Non-controlling interest		71,820	255,372
		(216,312)	92,597
Total comprehensive income attributable to holders of the Company in sen:
- Basic	B10	0.01	0.05
- Diluted	B10	0.01	0.05

The unaudited condensed consolidated statement of comprehensive income should be read in conjunction with the audited annual financial statements for the year ended 31 December 2025 and the accompanying explanatory notes attached to the interim financial statements.

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IFCA MSC BERHAD (Company No: 199701037892/453392-T)

(Incorporated in Malaysia)

Condensed Consolidated Statement of Financial Position

As at 31 March 2026

	As at	As at
	31.3.2026	31.12.2025
	(Unaudited)	(Audited)
ASSETS	RM	RM
NON-CURRENT ASSETS
Property, plant and equipment	7,678,180	8,124,267
Investment properties	10,371,308	10,526,931
Deferred development costs	16,511,281	16,763,357
Deferred tax asset	2,625,858	2,630,101
Goodwill	25,111,525	25,111,525
Contract assets		318,599
Right-of-use asset	501,389	608,048
Other investments	87,384	87,384
	62,886,925	64,170,212
CURRENT ASSETS
Trade receivables	16,830,386	12,345,254
Contract assets	4,158,112	3,838,135
Inventories	8,080	8,080
Other receivables	3,018,614	2,372,745
Other current assets	1,059,683	753,006
Tax recoverable	2,251,633	1,798,828
Fixed deposits with licensed banks	42,068,535	40,826,857
Cash and bank balances	19,868,292	29,186,614
	89,263,335	91,129,519
TOTAL ASSETS	152,150,260	155,299,731
EQUITY AND LIABILITIES
Equity attributable to owners of the parent
Share capital	83,947,005	83,947,005
Treasury shares	(3,195,875)	(3,195,875)
Retained profits	44,088,439	44,047,663
Other reserves	(3,539,521)	(3,210,613)
	121,300,048	121,588,180
Non-Controlling Interest	(260,848)	(332,668)
Total equity	121,039,200	121,255,512
Non-current liabilities
Contract liabilities	-	5,716
Employees' retirement benefits	1,175,267	1,201,997
Lease Liabilities	60,485	178,208
Deferred tax liabilities	2,301,283	2,308,396
	3,537,035	3,694,317
Current Liabilities
Trade payables	455,287	93,300
Other Payables	7,196,860	11,784,838
Contract liabilities	19,426,329	17,740,427
Lease Liabilities	495,549	491,961
Tax Payable	-	239,376
	27,574,025	30,349,902
Total liabilities	31,111,060	34,044,219
TOTAL EQUITY AND LIABILITIES	152,150,260	155,299,731
Net asset per share	0.20	0.20

The condensed consolidated statement of financial position should be read in conjunction with the audited annual financial statements for the year ended 31 December 2025 and the accompanying explanatory notes attached to the interim financial statements.

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IFCA MSC BERHAD (Company No: 199701037892/453392-T)

(Incorporated in Malaysia)

Condensed Consolidated Statement of Changes in Equity

For the Three Months Period Ended 31 March 2026

	Attributable to Owners of the Company
	Non-Distributable			Distributable
	Share Capital RM	Treasury shares RM	Other Reserve RM	Retained earnings RM	Total RM	Non-controlling Interest RM	Total Equity RM
At 1 January 2026	83,947,005	(3,195,875)	(3,210,613)	44,047,663	121,588,180	(332,668)	121,255,512
Total comprehensive expense	-	-	-	40,776	40,776	71,820	112,596
Foreign Currency Translation	-	-	(328,908)	-	(328,908)	-	(328,908)
At 31 March 2026	83,947,005	(3,195,875)	(3,539,521)	44,088,439	121,300,048	(260,848)	121,039,200
At 1 January 2025	83,947,005	(2,179,578)	(1,459,979)	44,196,481	124,503,929	(383,668)	124,120,261
Total comprehensive income	-	-	-	316,515	316,515	255,368	571,883
Foreign currency translation	-	-	(479,290)	-	(479,290)	-	(479,290)
At 31 March 2025	83,947,005	(2,179,578)	(1,939,269)	44,512,996	124,341,154	(128,300)	124,212,854

The condensed consolidated statement of changes in equity changes should be read in conjunction with the audited annual financial statements for the year ended 31 December 2025 and the accompanying explanatory notes attached to the interim financial statements.

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IFCA MSC BERHAD (Company No: 199701037892/453392-T)

(Incorporated in Malaysia)

Condensed Consolidated Statement of Cash Flows

For the Three Months Period Ended 31 March 2026

	3 months ended
	31.3.2026 RM	31.3.2025 RM
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax	201,435	1,102,397
Adjustments for :
Non cash items	1,619,955	2,152,498
Non-operating items	(283,976)	(314,576)
Operating profit before working capital changes	1,537,414	2,940,319
Changes in working capital:
Assets	(5,371,366)	(283,177)
Liabilities	(2,540,098)	(4,528,857)
Total working capital changes	(7,911,464)	(4,812,034)
Cash used in operating activities	(6,374,050)	(1,871,715)
Tax refund	-	25,301
Tax paid	(679,158)	(1,742,290)
Net cash used in operating activities	(7,053,208)	(3,588,704)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received	287,730	337,409
Purchase of property, plant and equipment	(30,042)	(2,426,732)
Proceeds from disposal of property, plant and equipment	192,305	-
Development costs	(1,138,023)	(1,975,381)
Net cash used in investing activities	(688,030)	(4,064,704)
CASH FLOWS FROM FINANCING ACTIVITIES
Interest paid	(6,504)	(12,080)
Net cash used in financing activities	(6,504)	(12,080)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(7,747,742)	(7,665,488)
EFFECTS OF FOREIGN EXCHANGE RATE CHANGES	(328,902)	(479,288)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	70,013,471	76,730,875
CASH AND CASH EQUIVALENTS AT END OF PERIOD	61,936,827	68,586,099

The condensed consolidated statement of cash flows should be read in conjunction with the audited annual financial statements for the year ended 31 December 2025 and the accompanying explanatory notes attached to the interim financial statements.