MST Golf Group Berhad (KLSE:MSTGOLF)

Revenue by Segment

Financials in millions MYR. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Eliminations	-17.64M	-37.43M	-40.41M	-36.90M	-10.35M
Trading	293.42M	327.65M	315.55M	302.35M	211.62M
Trading Growth	-10.45%	3.83%	4.37%	42.88%	21.98%
Golf Services	12.32M	22.47M	22.09M	12.40M	3.04M
Golf Services Growth	-45.19%	1.75%	78.07%	308.38%	-14.83%
Investment Holdings and Other	10.18M	-	-	-	-
Others	-	15.08M	28.20M	23.02M	2.21M
Others Growth	-	-46.52%	22.51%	941.58%	-3.07%
Total	298.28M	327.78M	325.43M	300.88M	206.52M
Total Growth	-9.00%	0.72%	8.16%	45.69%	21.37%

Revenue by Geography

Financials in millions MYR. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Malaysia	184.36M	201.19M	214.42M	199.48M	120.97M
Malaysia Growth	-8.37%	-6.17%	7.49%	64.89%	-4.37%
Singapore	74.70M	72.24M	83.82M	69.07M	55.95M
Singapore Growth	3.41%	-13.82%	21.35%	23.45%	70.86%
Indonesia	39.22M	53.31M	26.88M	31.10M	25.38M
Indonesia Growth	-26.42%	98.33%	-13.56%	22.53%	283.70%
Thailand	-	754.00K	86.00K	292.00K	398.06K
Thailand Growth	-	776.74%	-70.55%	-26.64%	75.70%
Vietnam	-	4.00K	117.00K	3.00K	-
Vietnam Growth	-	-96.58%	3800.00%	-	-
Others	-	280.00K	110.00K	938.00K	765.93K
Others Growth	-	154.55%	-88.27%	22.47%	60.00%
Myanmar	-	-	-	-	231.51K
Myanmar Growth	-	-	-	-	113.76%
Japan	-	-	-	-	1.22M
Japan Growth	-	-	-	-	-36.38%
South Korea	-	-	-	-	1.60M
South Korea Growth	-	-	-	-	2.94%
Total	298.28M	327.78M	325.43M	300.88M	206.52M
Total Growth	-9.00%	0.72%	8.16%	45.69%	21.37%

Source: S&P Global Market Intelligence.