Straits Harbour Advisory

Week of 5 Oct 2026

What needs deciding, what moved, what is stuck, and whether last week’s actions were done.

Composed 5 Oct, 06:00 · Straits Harbour Advisory

Composed 5 Oct, 06:00 · on scheduleNot emailed yet

Decisions needed5this week Changes16since last Monday’s brief At risk or stuck6across deals Last week’s actions2 of 5done

01Decisions needed this week

Rasa Mas Snacks· 1

Decide what to tell Keppel Ridge Foods and Sunfield Consumer (sent 15 Sep with the old figure).Daniel Tan

Lintas Freight Sdn Bhd· 2

Gate decision needed: proceed, clarify or decline.Priya Nair
3 conditional house rules need a principal's approval or a no.No single customer above 30% of revenueKey contracts provided for the top ten customersRetainer before marketing

Pelita Packaging· 2

Gate decision needed: proceed, clarify or decline.Priya Nair
4 conditional house rules need a principal's approval or a no.No single customer above 30% of revenueKey contracts provided for the top ten customersThree years of audited accountsRetainer before marketing

02What changed since last week

AI read by AI from a document, not yet reviewed by a person.

Rasa Mas Snacks· 4

Earnings (EBITDA) changed from RM5.1m to RM4.7m; RM5.1m is superseded and kept. Daniel Tan named Audited accounts FY2025, p.6 authoritative.
Audit opinion recorded: Unqualified.AI
Revenue recorded: RM42.3m.
Total borrowings recorded: RM9.0m.

Lintas Freight Sdn Bhd· 6

Bank deposits recorded: RM29.2m.AI
Company registry recorded: Mohamad Faizal Abdullah, Chong Mei Ling and Ravi Krishnan.

03At risk or stuck

Rasa Mas Snacks· 5

Correct the memorandum section "Financial overview": it uses RM5.1m for earnings (EBITDA), now RM4.7m.Nur Hana Aziz
Revisit the price expectation: earnings (EBITDA) now RM4.7m, range was RM33m–43m, now RM31m–40m at the same multiples.Daniel Tan
Circulate the draft buyer list to Farid. FlaggedDaniel Tancarried over since the brief of 21 SepOverdue · 30 Sep
Send the revised data request to Farid. FlaggedNur Hana Azizcarried over since the brief of 21 SepOverdue · 2 Oct
Stated risk. The founder may withdraw if the price falls below RM40 million.

04Last week’s actions

2 of 5 done.

Rasa Mas Snacks· 3

Send the revised data request to Farid.Nur Hana Azizstill opencarried over
Circulate the draft buyer list to Farid.Daniel Tanstill opencarried over
Chase Farid for the signed FY2025 audited accounts.Nur Hana Azizdone

Kinetic Dental Group· 1

Confirm the escrow agent and fee.Daniel Tanstill opencarried over

Verdant Agritech· 1

Every line links to its source. Lines are the register’s own wording.

Sources

Audited accounts FY2025, p.6 — “EBITDA for the year ended 31 December 2025 amounted to RM4,700,000”
Update to Keppel Ridge Foods and Sunfield Consumer
House rule: No single customer above 30% of revenue
House rule: Key contracts provided for the top ten customers
House rule: Retainer before marketing
House rule: No single customer above 30% of revenue
House rule: Key contracts provided for the top ten customers
House rule: Three years of audited accounts
House rule: Retainer before marketing
Audited accounts FY2025, p.6 — “EBITDA for the year ended 31 December 2025 amounted to RM4,700,000”
Management accounts FY2025, p.14 — “EBITDA for the year ended 31 December 2025 was RM5,100,000”
Audited accounts FY2025, p.1 — “In our opinion, the financial statements give a true and fair view of the financial position of the Company as at 31 December 2025”
Audited accounts FY2025, p.6 — “Revenue for the financial year ended 31 December 2025 was RM42,300,000”
Audited accounts FY2025, p.8 — “Total 9,000,000”
Bank statement FY2025, p.1 — “Total deposits (9 months): RM29,200,000”
Company registry extract, p.1 — “Shareholders Name Shares Mohamad Faizal Abdullah 750,000 Chong Mei Ling 150,000 Ravi Krishnan”
Management accounts FY2025, p.1 — “Income Statement!A9 EBITDA Income Statement!B9 4940000”
Company registry extract, p.1 — “Number of charges registered: 0”
Management accounts FY2025, p.1 — “Income Statement!A5 Revenue Income Statement!B5 38000000”
Share register, p.1 — “Mohd Faizal bin Abdullah XXXXXX-10-5523 600,000 60% 2 Chong Mei Ling XXXXXX-14-6012 150,000 15% 3 Ravi a/l Krishnan XXXXXX-08-5371 100,00…”
Teaser, p.1 — “EBITDA was RM8,900,000”
Teaser, p.1 — “Revenue for the financial year ended 31 December 2025 was RM56,800,000”
Audited accounts FY2025, p.6 — “EBITDA for the year ended 31 December 2025 amounted to RM4,700,000”
Financial overview — “Earnings before interest, tax, depreciation and amortisation reached RM5.1 million in FY2025, a margin of 12%.”