Liquidity and leverage are the core risk. Cash was MYR 0.39m at 12/31/2024; RCPS liabilities exceeded MYR 9.5m with 10% to 14% effective rates; tax payables and trade payables were sizable. In Feb 2026 Agroz added a US$3.33m secured note with a blanket lien on assets and subsidiary equity.
Auditors and management cited substantial doubt about going concern. Listing notices (bid‑price and late 20‑F) add financing and equity‑market access risk.







