Company: CCHH
Filing Date: 2025-06-26
Form Type: DRS
Source: 0001213900-25-058036
Chunk: 68

Company: CCH Holdings Ltd
Filing Date: 2025-06-26
Form: DRS
Chunk 68
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 decrease in insurance expenses of US$0.07million and a decrease in rental expenses of US$0.05million, which was mainly due to the disposal of one company -ownedrestaurant outlet during 2024. Financial Expenses, Net Our financial expenses, net slightly increased from US$0.12 million for the year ended December31, 2023 to US$0.13 million for the year ended December31, 2024, primarily attributable to the slight increase of interest expenses incurred for bank overdrafts and bank borrowings. Net income As a result of the foregoing, we recorded a net income of US$0.37 million and US$0.91million for the years ended December31, 2023 and 2024, respectively. The increase in net income was primarily attributable to (i) our efforts in further optimization in standardized operations which led to improvement in overall cost control and (ii) the decrease in marketing expenses we incurred to advertise our brand and restaurants in 2024. Taxation Cayman Islands The Company was incorporated in the Cayman Islands as an exempted company with limited liability under the Companies Act and accordingly, is exempted from Cayman Islands income and corporate tax. As such, the Company is not subject to tax on either income or capital gain. In addition, no withholding tax is imposed upon any payments of dividends by subsidiaries to the Company. Malaysia Our Malaysian subsidiaries, including STCH Holding, STCH GH, ZWY Raja Uda, CHH KL, CCH Tropika and GTL F&B, are governed by the income tax laws of Malaysia. The income tax provision in respect of operations in Malaysia is calculated at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations, and practices. Under the Income Tax Act of Malaysia, enterprises incorporated in Malaysia are usually subject to a unified 24% enterprise income tax rate while preferential tax rates, tax holidays, and tax exemptions may be granted on a case -by -casebasis. The tax rate for small and medium sized companies (generally companies incorporated in Malaysia with paid -incapital of MYR2,500,000 or less, and gross income of not more than MYR50 million) is 15% for the first MYR150,000 (approximately US$37,500) taxable income, and 17% for taxable income between MYR150,001 (approximately US$37,500) to MYR600,000 (approximately US$150