NOVA MSC BERHAD — Interim / Quarterly Report 2026

May 25, 2026

(Registration No. 200201024235 (591898-H))

QUARTERLY REPORT

Condensed Consolidated Statement of Comprehensive Income

For the third quarter period ended 31 March 2026

Group	Individual Quarter ended		Cumulative Quarter ended
	Unaudited 31 Mar 2026 RM'000	Unaudited 31 Mar 2025 RM'000	6 Months Unaudited 31 Mar 2026 RM'000	6 Months Unaudited 31 Mar 2025* RM'000
Revenue	6,565	7,111	20,787	N/A
Material cost	(1,521)	(1,144)	(3,856)	N/A
Depreciation and amortization	(1,676)	(2,037)	(5,161)	N/A
Employee benefits expenses	(4,145)	(4,973)	(14,135)	N/A
Other operating expenses	(2,118)	(1,335)	(7,521)	N/A
Interest expenses	(147)	(238)	(508)	N/A
Interest income	-	-	68	N/A
Other income	59	365	86	N/A
Share of results of associates	22	39	88	N/A
Loss before taxation	(2,962)	(2,212)	(10,153)	N/A
Tax expense	-	-	-	N/A
Loss for the period	(2,962)	(2,212)	(10,153)	N/A
Other comprehensive income: Exchange differences on translating foreign operations	333	20	1,869	N/A
Total Comprehensive Income	(2,629)	(2,192)	(8,285)	N/A
Net Loss attributable to:
Equity Holders of Company	(2,484)	(1,240)	(7,976)	N/A
Non-controlling interest	(477)	(972)	(2,177)	N/A
	(2,962)	(2,212)	(10,153)	N/A
Total comprehensive income attributable to:
Equity Holders of Company	(2,161)	(1,231)	(6,292)	N/A
Non-controlling interest	(468)	(961)	(1,993)	N/A
	(2,629)	(2,192)	(8,285)	N/A
Loss per ordinary share (sen):
- Basic	(0.12)	(0.08)	(0.37)	N/A
- Diluted	-	-	-	-

• As announced on 6 May 2025, the financial year end of the Group has been changed from 31 March 2025 to 30 June 2025. The last audited financial statements were for 15 months ended 30 June 2025. As such, there is no comparative figures for the preceding year corresponding period.

The unaudited Condensed Consolidated Income Statement should be read in conjunction with the annual audited financial statements for the year ended 30 June 2025 and the accompanying explanatory notes attached to the interim financial statements.

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(Registration No. 200201024235 (591898-H))

Condensed Consolidated Statement of Financial Position

| Group | Unaudited
31 Mar 2026
RM'000 | Audited
30 Jun 2025
RM'000 |
| --- | --- | --- |
| ASSETS | | |
| Non-current assets | | |
| Property, plant and equipment | 274 | 200 |
| Right-of-Use assets | 3,714 | 4,766 |
| Intangible assets | 27,612 | 29,060 |
| Goodwill on consolidation | - | - |
| Investment in associates | 716 | 663 |
| | 32,316 | 34,689 |
| Current assets | | |
| Contract assets | 2,491 | 2,475 |
| Inventories | 2,309 | 2,001 |
| Trade and other receivables | 13,736 | 7,726 |
| Tax recoverable | 3 | 72 |
| Cash and cash equivalents | 13,672 | 23,418 |
| | 32,211 | 35,692 |
| TOTAL ASSETS | 64,527 | 70,381 |
| EQUITY & LIABILITIES | | |
| Equity and reserves | | |
| Shares Capital | 145,691 | 145,691 |
| Reserves | (100,253) | (93,961) |
| | 45,438 | 51,730 |
| Non-Controlling Interest | (1,528) | (2,674) |
| Total Equity | 43,910 | 49,056 |
| Non-current liabilities | | |
| Lease liabilities | 2,746 | 3,838 |
| Borrowings | - | 3,216 |
| Convertibles Notes | 1,567 | - |
| | 4,313 | 7,054 |
| Current liabilities | | |
| Contract liabilities | 707 | 1,794 |
| Trade and other payables | 10,055 | 7,821 |
| Lease liabilities | 1,179 | 1,146 |
| Borrowings | 4,363 | 3,510 |
| | 16,304 | 14,271 |
| Total liabilities | 20,617 | 21,325 |
| TOTAL EQUITY AND LIABILITIES | 64,527 | 70,281 |
| Net assets per share (RM) | 0.0211 | 0.0240 |

As announced on 6 May 2025, the financial year end of the Group has been changed from 31 March 2025 to 30 June 2025. The unaudited Condensed Consolidated Balance Sheet should be read in conjunction with the annual audited financial statements for the year ended 30 June 2025 and the accompanying explanatory notes attached to the interim financial statements.

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(Registration No. 200201024235 (591898-H))

Condensed Consolidated Statement of Changes in Equity

For the period ended 31 Mar 2026

(Unaudited)

Group	Share Capital	Equity Compensation Reserves	Translation Reserves	Accumulated Loss	Total	Non-Controlling Interest	Total
	RM’000	RM’000	RM’000	RM’000	RM’000	RM’000	RM’000
At 1 Jul 2025	145,691	552	11,732	(106,245)	51,730	(2,674)	49,056
Loss for the period	-	-	-	(7,976)	(7,976)	(2,177)	(10,153)
Foreign Currency Translation	-	-	1,684	-	1,684	185	1,869
ESOS Lapsed	-	(552)	-	552	-	-	-
Capital contribution by non-controlling interests	-	-	-	-	-	3,138	3,138
At 31 Mar 2026	145,691	-	13,416	(113,669)	45,438	(1,528)	43,910

• As announced on 6 May 2025, the financial year end of the Group has been changed from 31 March 2025 to 30 June 2025. The last audited financial statements were for 15 months ended 30 June 2025. As such, there is no comparative figures for the preceding year corresponding period.

The unaudited Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the annual audited financial statements for the year ended 30 June 2025 and the accompanying explanatory notes attached to the interim financial statements.

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(Registration No. 200201024235 (591898-H))

Condensed Consolidated Cash Flow Statements

For the period ended 31 March 2026

(Unaudited)

Group	9 months Ended	9 months Ended
	31 Mar 2026
RM'000	31 Mar 2025*
RM'000
Loss for the period	(10,153)	N/A
Adjustments for: -
Non-cash items	5,161	N/A
Non-operating items	3,149	N/A
Operating profit /(loss) before working capital changes	(1,843)	N/A
Net change in current assets	(7,421)	N/A
Net change in current liabilities	2,234	N/A
Tax refund	70	N/A
Net cash (used)/generated in operating activities	(6,960)	N/A
Investing activities
Purchase of property, plant and equipment	(243)	N/A
Interest received	68	N/A
Capital contribution by non-controlling interest	3,138	N/A
Addition of software development expenditure, net of grant	(3,615)	N/A
Net cash used in investing activities	(652)	N/A
Financing activities
Payment of lease liabilities	(1,199)	N/A
Issuance of convertible notes	1,567	N/A
Borrowings repayment	(2,025)	N/A
Interest paid	(368)	N/A
Net cash generated/(use) in financing activities	(2,025)	N/A
Net changes in cash and cash equivalents	(9,639)	N/A
Cash and cash equivalents at beginning of financial year	23,418	N/A
Effect of exchange rate changes on opening balance	(107)	N/A
Cash and cash equivalents at end of the financial period	13,672	N/A

• As announced on 6 May 2025, the financial year end of the Group has been changed from 31 March 2025 to 30 June 2025. The last audited financial statements were for 15 months ended 30 June 2025. As such, there is no comparative figures for the preceding year corresponding period.

The unaudited Condensed Consolidated Cash Flow Statement should be read in conjunction with the annual audited financial statements for the year ended 30 June 2025 and the accompanying explanatory notes attached to the interim financial statements.

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(Registration No. 200201024235 (591898-H))

Part A – Explanatory Notes Pursuant to FRS 134

A1. Basis of Preparation.

The interim financial report is unaudited and has been prepared in accordance with the Malaysian Financial Reporting Standards (“MFRS”) 134 “Interim Financial Reporting” and Paragraph 9.22 of the Listing Requirements of Bursa Malaysia Securities Berhad for the ACE Market. The interim financial report should also be read in conjunction with the audited financial statements of the Group for the year ended 30 June 2025.

A2. Adoption of Revised Financial Reporting

The significant accounting policies and methods of computation adopted by the Group in the interim financial statements are consistent with those of the audited financial statements for the year ended 30 June 2025.

The Group have adopted the following new accounting standards and/or interpretations (including the consequential amendments, if any):

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

Amendments to MFRS 16: Lease Liability in a Sale and Leaseback

Amendments to MFRS 101: Classification of Liabilities as Current or Non-current

Amendments to MFRS 101: Non-current Liabilities with Covenants

Amendments to MFRS 107 and MFRS 7: Supplier Finance Arrangements

The following Standards were issued but not yet effective and have not been adopted by the Group:

MFRSs and/or IC Interpretations (Including the Consequential Amendments)	Effective for financial periods beginning on or after
MFRS 18 Presentation and Disclosure in Financial Statements	1 January 2027
MFRS 19 Subsidiaries without Public Accountability: Disclosures	1 January 2027

The adoption of the above accounting standards and/or interpretations (including the consequential amendments, if any) is expected to have no material impact on the financial statements of the Group upon their initial application.

A3. Auditors’ Report on Preceding Annual Financial Statements

The auditors had opined, except for the possible effects of the matter described in the Basis for Qualified Opinion as disclosed below, the accompanying financial statements give a true and fair view of the financial position of the Group and of the Company as at 30 June 2025.

Basis for Qualified Opinion

The consolidated financial statements include intangible assets (development expenditure) of RM9,547,941 allocated to a specific cash-generating unit (CGU) included in the total development expenditure capitalized of RM28,999,516 as stated in note 8 to the financial statements. Management assessed the carrying amount of this CGU for impairment using value-in-use (VIU) models based on forecast cash flows derived from projected contract revenues. We were unable to obtain sufficient appropriate audit evidence to support the reasonableness of the revenue growth assumptions used in these models. This limitation arose due to the absence of corroborative documentation, such as signed client contracts, binding sales orders, credible market studies, or other reliable evidence to substantiate the forecast revenues. Our audit procedures, including sensitivity analyses and reviews of historical performance, indicate that the revenue forecasts may overstate the recoverable amount of this CGU potentially requiring an impairment of the related development expenditure.

We conducted our audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing. Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

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(Registration No. 200201024235 (591898-H))

A4. Comments about Seasonal or Cyclical Factors

The business of the Group is not affected by any significant seasonal or cyclical factors.

A5. Unusual Items Due to their Nature, Size or Incidence

There were no unusual items during the quarter.

A6. Changes in Estimates

There are no changes in the estimates of amount reported that have material effect in the current quarter.

A7. Debt and Equity Securities

Other than as disclosed in note B10, there were no issuances, cancellations, repurchases, resale and repayments of debt and equity securities during the quarter under review.

A8. Dividend Paid

No dividend was paid during the quarter under review.

A9. Capital Commitments

No material capital commitments were approved and contracted for as at 31 March 2026.

A10. Valuation of Property, Plant and Equipment

The Group did not revalue any of its property, plant and equipment.

A11. Subsequent Events

There were no material events between 1st April 2026 and 26th May 2026 that would be required to be reflected in the financial statement for the quarter ended 31st March 2026.

A12. Changes in the Composition of the Group

There were no changes in the composition of the Group during the financial period under review except the following: -

(a) On 20 September 2025, Eyris Pte Ltd, a subsidiary of the Group, increased its paid up capital from SGD2,178,033 to SGD2,559,227 by an allotment of 6,000 ordinary shares for cash consideration of SGD381,194.

(b) On 29 September 2025, the Group incorporated a new subsidiary, Dex-Lab (Australia) Pty Ltd, in Australia, with a paid-up capital of AUD10,000 to focus on the development and marketing of robotics and artificial intelligence related product and services.

(c) On 28 Feb 2026, Dex-lab Pte Ltd, a subsidiary of the Group, increased its paid-up capital from SGD100,000 to SGD720,000 by an allotment of 4,133 ordinary shares for cash consideration of SGD620,000

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(Registration No. 200201024235 (591898-H))

A13. Changes in Contingent Liabilities

31 Mar 2026

RM'000

Guarantees given by the Company for credit facilities granted to subsidiary

4,363

A14. Significant Related Party Transaction

There were no significant related party transactions which would have material impact on the financial position and business of the Group during the current quarter under review.

A15. Segmental Information

RM'000	Malaysia	Overseas	Elimination	Consolidated
FY25/26
Revenue
- External	3,202	17,584	-	20,787
- Internal	-	1,830	(1,830)	-
Total Revenue	3,202	19,414	(1,830)	20,787
Result
- Segment Result	(30)	(9,771)	-	(9,801)
- Share of associate result				88
- Interest income				68
- Interest expense				(508)
Loss before tax				(10,153)
Tax				-
Loss after tax				(10,153)
Segment assets	38,524	37,263	(11,261)	64,526
Segment liabilities	951	18,097	-	19,048
Other information
- Capital Expenditure	24	3,834	-	3,858
- Depreciation and amortization	105	5,056	-	5,161

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(Registration No. 200201024235 (591898-H))

Part B – Additional Information required by Bursa Malaysia Securities Berhad’s Listing Requirements

B1. Performance Review

Current Quarter vs Previous Year Quarter

For the current quarter ended 31 March 2026, the Group recorded revenue of RM6.57 million compared to RM7.11 million in the corresponding quarter of the previous year, representing a decrease of approximately 7.7%. The decrease was mainly attributable to lower sales orders secured during the period, coupled with lower recognition of project milestones from ongoing projects within the existing order book.

The Group recorded a loss before taxation of RM2.96 million as compared to RM2.21 million in the corresponding quarter last year. The higher loss was primarily due to higher material costs and increased unrealized foreign exchange losses arising from currency fluctuations during the quarter. This was partially offset by lower employee benefit expenses and depreciation charges.

B2. Variation of Results against the Preceding Quarter

| | Current Quarter
31 Mar 2026
RM'000 | Preceding Quarter
31 Dec 2025
RM'000 | Difference
(%) |
| --- | --- | --- | --- |
| Revenue | 6,565 | 6,473 | 1% |
| Loss before taxation | (2,962) | (5,404) | 45% |

For the quarter ended 31 March 2026, the Group achieved a revenue of RM6.6 million, which is comparable to the RM7.7 million achieved in the preceding quarter. The Group recorded a lower loss before taxation of approximately RM3.0 million, compared to a loss before taxation of RM5.4 million in the preceding quarter. The significant decrease in loss was mainly due to lower manpower incurred as well as lower foreign exchange losses recorded during the period.

The Group’s order book amounted to approximately RM32 million as at 31 Mar 26 as compared to approximately RM29 million as at the end of immediately preceding quarter.

B3. Prospect

The Group remains cautious given the prevailing macroeconomic uncertainties, competitive industry landscape, and the typically longer gestation periods associated with digital transformation projects. While we recognize the challenges ahead, we remain steadfast that our strategic approach will position the Group for long term sustainable success. Our key priorities will be optimizing operations to improve efficiency, maintaining strict cash flow to ensure financial stability, and intensifying our sales and marketing efforts to drive revenue growth. In addition, the Group is also exploring potential fundraising initiatives, including IPO-related exercises, within certain business units and subsidiaries to strengthen their capital position, support future expansion plans, and enhance long-term shareholder value. The Group’s net current asset position, supported by sufficient cash reserves, provides a strong foundation for undertaking these priorities and supporting ongoing business activities.

B4. Profit Forecast and Profit Guarantee

The Group has not issued any profit forecast or profit guarantee.

B5. Dividend

No dividend has been recommended for the quarter under review.

B6. Material Litigation

The Group is not engaged in any material litigation either as plaintiff or defendant and the directors do not have any knowledge of any proceedings pending or threatened against the Group.

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(Registration No. 200201024235 (591898-H))

B7. Notes to Condensed Consolidated Statement of Comprehensive Income

Operating profit is arrived at after charging/(crediting) the following items:

		Individual Quarter ended 31 Mar 2026 RM'000	Cumulative Quarter ended 31 Mar 2026 RM'000
i)	Depreciation and amortization	1,320	3,485
ii)	Foreign exchange (gain)/loss	2,219	2,952
iii)	Provision for and write off / (write back) of receivables	-	-
iv)	Provision for and write off / (write back) of contract assets	-	-
v)	Goodwill impairment	-	-
vi)	Impairment of intangible asset	-	-
vii)	Exceptional items	-	-

B8. Taxation from continuing operation

	Individual quarter ended		Cumulative quarter ended
	31 Mar 2026 RM'000	31 Mar 2025 RM'000	31 Mar 2026 RM'000	31 Mar 2025* RM'000
Current taxation charge	-	-	-	-
Under provision in prior year tax	-	-	-	-
Tax expenses (charge)/write back	-	-	-	-

Net deferred tax assets in respect of unutilized tax losses and development expenditure capitalized have not been recognized because of uncertainty that future taxable profits will be available against which the Company and its subsidiaries can utilize the benefits.

• The financial year end of the Group has been changed from 31 March to 30 June. As such, there is no comparative financial information available for the preceding year corresponding period.

B9. Group Borrowings and Debt Securities

The total borrowings of the Group as at 31 March 2026 are as follows:

RM'000

Payable within 24 months, with monthly principal repayments

Term Loans 4,363

The term loan was secured by corporate guarantee by the Company and fixed and floating charge over the assets of a subsidiary.

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(Registration No. 200201024235 (591898-H))

B10. Status of Corporate Proposals

Employee Share Option Scheme ("ESOS")

At an extraordinary general meeting on 27 August 2015, the Company's shareholders approved the establishment of a ten (10) year ESOS of up to thirty percent (30%) of the issued and paid-up capital of the Company. Set out below are the details of options over the ordinary shares of the Company under the ESOS: -

| Option
Grant date | Option
Expiry date | Exercise price | Number of options over ordinary shares | | | |
| --- | --- | --- | --- | --- | --- | --- |
| | | | Granted | Exercised | Forfeited / Lapsed | As at 31.03.26 |
| 02.6.2016 | 17.11.2025 | RM 0.0728 | 15,000,000 | (4,500,000) | (10,500,000) | - |
| 02.5.2018 | 17.11.2025 | RM 0.0656 | 23,000,000 | (17,450,021) | (5,549,979) | - |
| 30.8.2018 | 17.11.2025 | RM 0.1238 | 25,300,000 | (800,000) | (24,500,000) | - |

Number of options exercisable as at 31 March 2026 is nil.

B11. Earnings Per Share

	INDIVIDUAL QUARTER		CUMULATIVE QUARTER
	Current year quarter	Preceding year corresponding quarter	Current year to date	Preceding year corresponding period
	31 Mar 2026	31 Mar 2025	31 Mar 2026	31 Mar 2025*
(a) Basic earnings/(loss) per share
Net profit/(loss) attributable to shareholders (RM'000)	(4,566)	189	(5,492)	N/A
Weighted average number of ordinary shares ('000)	2,153,239	1,393,936	2,153,239	N/A
Basic earnings per share (sen)	(0.21)	0.01	(0.26)	N/A

(b) Diluted earnings per share

The impact from share options and ICPS on the loss per share are anti-dilutive and therefore the diluted loss per shares is not presented.

• The financial year end of the Group has been changed from 31 March to 30 June. As such, there is no comparative financial information available for the preceding year corresponding period.

By the Order of the Board

Tan Kean Wai (MAICSA 7056310)

Company Secretary

Kuala Lumpur

26th May 2026