PRESTAR RESOURCES BHD — Interim / Quarterly Report 2026

May 24, 2026

PRESTAR RESOURCES BHD

Company No. 198401010527 (123066-A)

Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income

For the 1st financial quarter ended 31 March 2026

	Individual Quarter		Cumulative Quarter
	Current Year 1st Quarter 01/01/2026 to 31/03/2026 RM'000	Preceding Year Corresponding Quarter RM'000	Current Year To-date 01/01/2026 to 31/03/2026 RM'000	Preceding Year Corresponding Period RM'000
Revenue	114,843	109,750	114,843	109,750
Cost of sales	(98,333)	(97,933)	(98,333)	(97,933)
Gross profit	16,510	11,817	16,510	11,817
Other operating income	1,365	1,383	1,365	1,383
Operating expenses	(14,418)	(11,586)	(14,418)	(11,586)
Profit from operations	3,457	1,614	3,457	1,614
Finance costs	(742)	(956)	(742)	(956)
Interest income	390	278	390	278
Share of results of associates	1,418	77	1,418	77
Profit before tax	4,523	1,013	4,523	1,013
Tax expense	(1,668)	(388)	(1,668)	(388)
Profit for the period	2,855	625	2,855	625
Profit attributable to: Owners of the company	2,855	625	2,855	625
Total comprehensive income attributable to: Owners of the company	2,855	625	2,855	625
Earnings per share (sen)
Basic	0.80	0.17	0.80	0.17
Diluted	N/A	N/A	N/A	N/A

(The Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the Audited Financial Statement for the year ended 31 December 2025 and the accompanying explanatory notes attached to the interim financial statements.)

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PRESTAR RESOURCES BHD

Company No. 198401010527 (123066-A)

Unaudited Condensed Consolidated Statement of Financial Position as at 31 March 2026

| | As at
31/03/2026
RM'000 | As at
31/12/2025
RM'000 |
| --- | --- | --- |
| ASSETS | | |
| Non-current assets | | |
| Property, plant and equipment | 137,102 | 140,654 |
| Right-of-use assets | 11,493 | 11,616 |
| Goodwill | 1,675 | 1,675 |
| Investments in associates | 177,195 | 175,777 |
| | 327,465 | 329,722 |
| Current assets | | |
| Inventories | 90,676 | 90,439 |
| Trade receivables | 79,014 | 85,336 |
| Other receivables | 5,913 | 5,620 |
| Derivative assets | 41 | 2 |
| Tax Recoverable | 666 | 1,885 |
| Short term investments | 22,248 | 27,334 |
| Cash and bank balances | 40,475 | 44,745 |
| | 239,033 | 255,361 |
| TOTAL ASSETS | 566,498 | 585,083 |
| EQUITY AND LIABILITIES | | |
| Equity attributable to equity holders
of the parent | | |
| Share capital | 126,966 | 126,966 |
| Reserves | 334,206 | 334,018 |
| Treasury shares | (1,882) | (1,882) |
| Total equity | 459,290 | 459,102 |
| Non-current liabilities | | |
| Bank borrowings | 3,962 | 4,373 |
| Lease liabilities | 86 | 144 |
| Deferred taxation | 8,073 | 7,297 |
| Retirement benefit obligations | 7,082 | 6,983 |
| | 19,203 | 18,797 |
| Current liabilities | | |
| Trade payables | 12,714 | 21,585 |
| Other payables | 18,178 | 25,402 |
| Derivative liabilities | 12 | 13 |
| Bank borrowings | 55,878 | 58,582 |
| Lease liabilities | 238 | 273 |
| Taxation | 858 | 1,203 |
| Retirement benefit obligations | 127 | 126 |
| | 88,005 | 107,184 |
| Total liabilities | 107,208 | 125,981 |
| TOTAL EQUITY AND LIABILITIES | 566,498 | 585,083 |
| Net assets per share attributable to ordinary
equity holders of the parent (RM) | 1.29 | 1.29 |

(The Condensed Consolidated Statement of Financial Position should be read in conjunction with the Audited Financial Statement for the year ended 31 December 2025 and the accompanying explanatory notes attached to the interim financial statements.)

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PRESTAR RESOURCES BHD
Company No. 198401010527 (123066-A)
Unaudited Condensed Consolidated Statement of Changes in Equity
For the 1st financial quarter ended 31 March 2026

| | Share Capital
RM'000 | Treasury Shares
RM'000 | Retained Profits
RM'000 | Total
RM'000 |
| --- | --- | --- | --- | --- |
| At 1 January 2025 | 126,966 | (725) | 314,838 | 441,079 |
| Total comprehensive income | - | - | 625 | 625 |
| Dividend paid | - | - | (1,795) | (1,795) |
| At 31 March 2025 | 126,966 | (725) | 313,668 | 439,909 |
| At 1 January 2026 | 126,966 | (1,882) | 334,018 | 459,102 |
| --- | --- | --- | --- | --- |
| Total comprehensive income | | | 2,855 | 2,855 |
| Dividend paid | - | - | (2,667) | (2,667) |
| At 31 March 2026 | 126,966 | (1,882) | 334,206 | 459,290 |

(The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the Audited Financial Statement for the year ended 31 December 2025 and the accompanying explanatory notes attached to the interim financial statements.)

3

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PRESTAR RESOURCES BHD

Company No. 198401010527 (123066-A)

Unaudited Condensed Consolidated Statement of Cash Flows

For the 1st financial quarter ended 31 March 2026

| | 31/03/2026
RM'000 | 31/03/2025
RM'000 |
| --- | --- | --- |
| Profit before tax | 4,523 | 1,013 |
| Adjustments for :- | | |
| Non-cash items | 4,264 | 2,590 |
| Non-operating items | 352 | 678 |
| Operating profit before working capital changes | 9,139 | 4,281 |
| Net change in current assets | 4,395 | (2,270) |
| Net change in current liabilities | (16,106) | (6,321) |
| Tax paid | (1,401) | (624) |
| Tax refund | 1,383 | - |
| Net cash for operating activities | (2,590) | (4,934) |
| Investing activities | | |
| Interest received | 390 | 278 |
| Proceeds from disposal of property, plant and equipment | 30 | 95 |
| Purchase of property, plant and equipment | (557) | (1,991) |
| Purchase of right-of-use assets | - | (56) |
| Net cash for investing activities | (137) | (1,674) |
| Financing activities | | |
| Interest paid | (726) | (956) |
| (Repayments)/drawdown of borrowings | (4,206) | 5,009 |
| Repayments of hire purchase liabilities | (280) | (398) |
| Repayments of lease liabilities | (92) | (85) |
| Dividends paid | (2,667) | (1,795) |
| Net cash (for) / from financing activities | (7,971) | 1,775 |
| Net decrease in cash and cash equivalent | (10,698) | (4,833) |
| Cash and cash equivalents at 1 January | 72,079 | 45,106 |
| Effect of exchange rate changes | (29) | (21) |
| Cash and cash equivalents at 31 March | 61,352 | 40,252 |
| Cash and cash equivalents comprise: | | |
| Cash and bank balances | 62,723 | 41,753 |
| Bank overdrafts | (1,371) | (1,501) |
| | 61,352 | 40,252 |

(The Condensed Consolidated Statement of Cash Flows should be read in conjunction with the Audited Financial Statement for the year ended 31 December 2025 and the accompanying explanatory notes attached to the interim financial statements.)

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Prestar Resources Berhad

Company No. 198401010527(123066-A)

Notes to the Unaudited Interim Financial Report for the period ended 31 March 2026

PART A: EXPLANATION NOTES AS PER MFRS 134

A1 Basis of Preparation

These unaudited condensed consolidated interim financial statements have been prepared in accordance with Malaysian Financial Reporting Standards ("MFRS") 134 Interim Financial Reporting and paragraph 9.22 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.

These interim financial statements should be read in conjunction with the audited financial statements of the Group for the year ended 31 December 2025.

The explanatory notes attached to these condensed consolidated interim financial statements provide an explanation of events and transactions that are significant to an understanding of the changes in the financial position and performance of the Group since the financial year ended 31 December 2025.

The significant accounting policies and methods of computation adopted are consistent with those of the audited financial statements for the year ended 31 December 2025, except for the adoption of the following new MFRSs, Amendments to MFRSs and Interpretations which are effective for annual periods beginning on or after 1 January 2026:

Effective Date

MFRS 18 Presentation and Disclosure in Financial Statements	1 January 2027
MFRS 19 Subsidiaries without Public Accountability: Disclosures	1 January 2027
Amendments to MFRS 9 and MFRS 7 Amendments to the Classification and Measurement of Financial Instruments	1 January 2026
Amendments to MFRS 9 and MFRS 7 Contracts Referencing Nature-dependent Electricity	1 January 2026
Amendments to MFRS 19 Subsidiaries without Public Accountability: Disclosures	1 January 2027
Annual Improvements to MFRS Accounting Standards – Volume 11	1 January 2026
Amendments to MFRS 10 and MFRS 128 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture	Deferred

The above standards, amendments and annual improvements do not have significant impact on the financial reporting of the Group.

A2 Audit Report of Preceding Annual Financial Statements

The auditors' report on the financial statements for the financial year ended 31 December 2025 was not qualified.

A3 Seasonal or cyclicality factors

The Group faces minor seasonal fluctuations during major festive season's.

A4 The nature and amount of items affecting assets, liabilities, equity, net income, or cash flows that are unusual because of their nature, size or incidence

There were no unusual items in the quarterly financial statement under review.

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Prestar Resources Berhad

Company No. 198401010527(123066-A)

Notes to the Unaudited Interim Financial Report for the period ended 31 March 2026

A5 Changes in estimates

There are no significant changes in estimates that have material effect in the current interim period.

A6 Issuances, cancellations, repurchases, resale and repayments of debt and equity securities

No issuances, cancellations, repurchases, resale or repayments of debt and equity securities for the current quarter.

A7 Dividends paid (aggregate or per share) separately for ordinary share and other shares

A second single-tier interim dividend of 0.75 sen per ordinary share, amounting to RM2,667,369 in respect of the financial year ended 31 December 2025 was paid on 26 March 2026.

A8 Segment Information for the current financial year to date

| | Trading
RM'000 | Manufacturing
RM'000 | Investment
RM'000 | Elimination
RM'000 | Total
RM'000 |
| --- | --- | --- | --- | --- | --- |
| Revenue | | | | | |
| External Sales | 25,278 | 89,565 | - | - | 114,843 |
| Inter-segment revenue | 522 | 6,185 | 4,564 | (11,271) | - |
| Total Revenue | 25,800 | 95,750 | 4,564 | (11,271) | 114,843 |
| Segment Result | (1,209) | 6,177 | 2,088 | (3,599) | 3,457 |
| Profit from operations | | | | | 3,457 |
| Finance costs | | | | | (742) |
| Interest Income | | | | | 390 |
| Share of results of associates | | | | | 1,418 |
| Profit before tax | | | | | 4,523 |

No analysis by geographical area has been presented as its year to date contribution was less than 10% to the combined results of all segments revenue or results or assets.

A9 Valuations of property, plant and equipment

The valuation of land & buildings has been brought forward, without amendment from the previous annual financial statement.

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Prestar Resources Berhad

Company No. 198401010527(123066-A)

Notes to the Unaudited Interim Financial Report for the period ended 31 March 2026

A10 Material events subsequent to the end of the interim period that have not been reflected in the financial statements for the interim period

There were no material events subsequent to the end of the interim period that have not been reflected in the financial statements for the current quarter under review.

A11 The effect of changes in the composition of the enterprise during the interim period, including business combinations, acquisition or disposal of subsidiaries and long-term investments, restructurings, and discontinuing operations

There were no changes in the composition of the Company for the financial period under review.

A12 Changes in contingent liabilities or contingent assets since the last financial year ended 31 December 2025

As at the date of this announcement, there were no material contingent liabilities incurred by the Group which, upon becoming enforceable, may have a material impact on the financial position of the Group.

A13 Capital commitments

As at 31/03/2026

RM'000

Property, plant and equipment

Authorized and contracted for 199

Authorized but not contracted for 96

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Prestar Resources Berhad

Company No. 198401010527(123066-A)

Notes to the Unaudited Interim Financial Report for the period ended 31 March 2026

PART B: ADDITIONAL INFORMATION REQUIRED BY THE LISTING REQUIREMENTS OF BURSA SECURITIES (PART A OF APPENDIX 9B)

B1 Review of performance of the company and its principal subsidiaries for the current quarter and financial year to date ("YTD")

	Individual Period (1st quarter)		Increase / (Decrease)		Cumulative Period		Increase / (Decrease)
	Current Year Quarter 01.01.2026 to 31.03.2026 RM'000	Preceding Year Corresponding Quarter 01.01.2025 to 31.03.2025 RM'000	RM'000	%	Current Year to-date 01.01.2026 to 31.03.2026 RM'000	Preceding Year Corresponding Period 01.01.2025 to 31.03.2025 RM'000	RM'000	%
Revenue	114,843	109,750	5,093	4.6	114,843	109,750	5,093	4.6
Profit from operations	3,457	1,614	1,843	114.2	3,457	1,614	1,843	114.2
Profit before tax	4,523	1,013	3,510	346.5	4,523	1,013	3,510	346.5

During the current quarter and financial year-to-date under review, the Group recorded revenue of RM114.8 million, representing an increase of 4.6% compared to RM109.8 million in the corresponding period of the previous financial year. The higher revenue was mainly attributable to increased sales volume and better average selling prices during the period.

The Group registered a profit from operations of RM3.5 million, compared to RM1.6 million in the corresponding period last year, representing an increase of 114.2%. The stronger operating performance was mainly driven by better product margins, continued cost discipline and operational efficiency gains across the Group, despite ongoing cost pressures from fuel, logistics, utilities and labour.

Consequently, the Group recorded a Profit Before Tax ("PBT") of RM4.5 million, higher than RM1.0 million recorded in the corresponding period of the previous financial year. The higher PBT was mainly supported by stronger operating results and continued contribution from the Group's associates during the period under review.

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Prestar Resources Berhad

Company No. 198401010527(123066-A)

Notes to the Unaudited Interim Financial Report for the period ended 31 March 2026

B2 Material changes in the profit before taxation for the quarter reported on as compared with the immediate preceding quarter

	Current Year Quarter 01.01.2026 to 31.03.2026 RM'000	Immediate Preceding Quarter 01.10.2025 to 31.12.2025 RM'000	Changes
			RM'000	%
Revenue	114,843	123,349	(8,506)	(6.9)
Profit from operations	3,457	8,826	(5,369)	(60.8)
Profit before tax	4,523	12,349	(7,826)	(63.4)

The Group's revenue for the current quarter stood at RM114.8 million, compared to RM123.3 million recorded in the immediate preceding quarter. The decrease was mainly due to lower sales volume, arising from softer demand conditions amid continued global economic uncertainties, more cautious customer ordering patterns and the shorter working period during the festive season. The impact was partially mitigated by improved average selling prices during the quarter.

Profit from operations decreased to RM3.5 million from RM8.8 million in the immediate preceding quarter. The lower operating profit was mainly attributable to reduced sales volume and lower production throughput, which resulted in higher unit production costs.

Accordingly, the Group recorded PBT of RM4.5 million compared with RM12.3 million in the immediate preceding quarter. The decline was mainly attributable to weaker operating performance, while the Group's associates were also affected by softer market demand conditions and margin pressures during the current quarter.

B3 Prospects

The operating environment is expected to remain challenging, with business sentiment and demand conditions influenced by cautious economic growth, policy and geopolitical developments, currency volatility and fluctuations in input costs. These factors may continue to affect customer ordering patterns, pricing conditions and cost structures across the manufacturing and steel-related sectors.

The Group anticipates continued competitive conditions in its operating markets, with customer ordering patterns remaining prudent and demand expected to be mixed across key end-user segments.

Against this backdrop, the Group will continue to manage its operations with prudence, with emphasis on pricing discipline, product mix and margin management. The Group will also continue to focus on effective inventory control, disciplined procurement strategies, cost optimisation, operational efficiency and tighter working capital and cash flow management to mitigate cost volatility and preserve financial resilience.

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Prestar Resources Berhad

Company No. 198401010527(123066-A)

Notes to the Unaudited Interim Financial Report for the period ended 31 March 2026

B3 Prospects (continue)

Barring any unforeseen circumstances, the Group remains cautiously positive and will continue to implement appropriate measures to strengthen operational resilience and support its performance for the remaining financial period.

B4 Variance of actual profit from forecast profit / profit guarantee

Not applicable

B5 Tax expenses

	Current Quarter 31/03/2026 RM'000	Current Year To Date 31/03/2026 RM'000
Current taxation	892	892
Deferred taxation	776	776
In respect of prior years	-	-
	1,668	1,668

B6 The status of corporate proposals announced but not completed at the latest practicable date which shall not be earlier than 7 days from the date of issue of the quarterly report.

There were no corporate proposals announced at the date of this announcement.

B7 Group bank borrowings:

Total group borrowings as at 31 March 2026 are as follows:-

RM'000	Short Term Borrowing	Long Term Borrowing
Denominated in Ringgit Malaysia:
Secured	28,432	3,962
Unsecured	27,446	-
Denominated in US Dollar:
Secured	-	-
Unsecured	-	-
Total Bank Borrowings	55,878	3,962

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Prestar Resources Berhad

Company No. 198401010527(123066-A)

Notes to the Unaudited Interim Financial Report for the period ended 31 March 2026

B8 Material litigation since the date of the last annual statement of financial which must be made up to a date not earlier than 7 days from the date of issue of the quarterly report

The Group is not engaged in any material litigation, either as a plaintiff or defendant, claims or arbitration which have a material effect on the financial position of the Group.

B9 Dividend

The Directors do not recommend any interim dividend for the current year under review.

B10 Earnings per share

Basic

Basic earnings per share are calculated by dividing the net profit attributable to ordinary shareholders by the weighted average number of ordinary shares in issue during the financial year.

	Current Year Quarter 31/03/2026	Preceding Year Quarter 31/03/2025	Current Year to date 31/03/2026	Preceding Year to date 31/03/2025
Net profit attributable to ordinary shareholders (RM'000)	2,855	625	2,855	625
Weighted average number of ordinary shares in issue ('000)	355,649	359,068	355,649	359,068
Basic earnings per share (sen)	0.80	0.17	0.80	0.17

Diluted

The diluted earnings per share is not disclosed as it is not applicable.

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Prestar Resources Berhad

Company No. 198401010527(123066-A)

Notes to the Unaudited Interim Financial Report for the period ended 31 March 2026

B11 Notes to Condensed Consolidated Statement of Comprehensive Income

Net profit is arrived at after taking into accounts the following items:		Current Quarter 31/03/2026 RM'000	Current Year To Date 31/03/2026 RM'000
(a)	Interest income	390	390
(b)	Other income	1,365	1,365
(c)	Interest expense	(742)	(742)
(d)	Depreciation and amortization	(2,392)	(2,392)
(e)	Provision (for) and written down of receivables	(910)	(910)
(f)	Provision (for) and written down of inventories	(534)	(534)
(g)	Gain / (loss) on disposal of quoted / unquoted investment / properties	-	-
(h)	Impairment of assets	(1,780)	(1,780)
(i)	Foreign exchange gain/(loss) - Realised and unrealized	(22)	(22)
(j)	Gain / (loss) on derivatives	38	38
(k)	Exceptional items	N/A	N/A