Dear Valued Shareholders,

On behalf of the Board of Directors, I am pleased to present the Annual Report and Audited Financial Statements of YNH Property Berhad (“YNH”) and its subsidiaries (“the Group”) for the financial year ended 30 June 2025 (“FYE 2025”).

A Year of Renewal and Recalibration

FYE 2025 marked a pivotal year of renewal and recalibration for YNH, driven by deliberate actions to strengthen the Group's financial foundation, enhance transparency, and reinforce governance all of which form the cornerstone for long-term growth and stability.

Financial Progress

During the year, the Group achieved substantial improvement in its balance sheet. Total borrowings decreased from RM839 million as at 30 June 2024 to RM550 million as at 30 June 2025, reflecting disciplined financial management and the successful completion of major asset monetisation exercises. Major transactions included the disposals of Kiara 163 Retail Park and AEON Seri Manjung, which collectively contributed to significant deleveraging. Following the AEON Seri Manjung disposal in July 2025, total borrowings further reduced to approximately RM432 million.

The Group continues to prioritise financial stability while progressing its long-term development pipeline. Strategic initiatives include the exploration of monetisation and joint-venture opportunities for the Menara YNH site along Jalan Sultan Ismail, Kuala Lumpur, and the 93-acre freehold land in Genting Highlands, both of which are positioned to unlock future value and enhance liquidity for shareholders.

Governance and Leadership

The completion of the Special Independent Review (SIR) in 2025 marked a significant milestone in strengthening the Group's governance structure and internal control framework. During the year, the Board composition expanded from five to nine members, bringing in together a broader range of expertise across finance, property, and engineering. In addition, the establishment of an Investment Committee has further enhanced transparency and accountability in the evaluation and approval of major investments and joint ventures.

These governance reforms, coupled with clearer leadership delineation, have reinforced the Group's oversight structure and aligned YNH's practices with the standards expected of a well-governed listed entity.

Outlook

Looking ahead, the Group remains focused on executing its strategic priorities — completing Solasta Dutamas, advancing deleveraging efforts, and unlocking value from its prime landbank. With enhanced liquidity, a stronger governance framework, and an active development pipeline, YNH is well-positioned to achieve a return to profitability in the financial year ending 30 June 2026 and sustained growth in the years beyond.

Appreciation

On behalf of the Board, I extend my heartfelt appreciation to our management team and employees for their unwavering dedication, professionalism, and resilience, which have been instrumental in navigating a challenging yet transformative year.

My deepest gratitude also goes to our shareholders, customers, bankers, and business partners for their continued trust and support. Together, we remain steadfast in driving the Group forward — pursuing sustainable growth, strengthening governance, and delivering long-term value for all stakeholders.