Financial Performance - For the twelve months ended September 30, 2021, BGMC reported unaudited consolidated revenue of RM 150 million, a decrease of 20% compared to RM 187.5 million for the same period in FY2020[10]. - The Group's gross profit for the same period was RM 30 million, resulting in a gross profit margin of 20%, down from 25% in FY2020[10]. - The Group's net loss for the twelve months was RM 10 million, compared to a net profit of RM 5 million in FY2020, indicating a significant decline in profitability[10]. - The Group's total revenue decreased from RM301.6 million in FY2020 to RM201.1 million, a decline of 33.3% primarily due to lower contributions from the Construction Services sector[47]. - The gross loss for the period was RM24.5 million, compared to a gross loss of RM76.7 million in the previous year, indicating an improvement in gross margin[101]. - Loss before tax for the twelve months ended 30 September 2021 was RM83.3 million, a reduction from RM200.3 million in the prior year, reflecting a decrease of approximately 58.5%[101]. - The loss attributable to owners of the Company was RM65.2 million, compared to RM193.5 million in the previous year, showing a significant reduction in losses[101]. Revenue Breakdown - BGMC's construction services sector remains the primary revenue driver, contributing approximately 70% of total revenue[12]. - The Construction Services sector contributed RM155.7 million to the consolidated revenue for the twelve months ended 30 September 2021, down 13.6% from RM180.2 million in FY2020[47]. - The Building and Structures segment contributed RM134.5 million, or 66.9%, to the Group's consolidated revenue for the twelve months ended 30 September 2021, up from RM132.7 million, or 44.0%, in FY2020[29]. - The Energy Infrastructure segment generated revenue of RM3.7 million, representing 1.8% of the Group's consolidated revenue, a significant decrease from RM36.5 million or 12.1% in FY2020[34]. - The Mechanical and Electrical segment recorded revenue of RM17.5 million, contributing 8.7% to consolidated revenue, an increase from RM10.6 million or 3.5% in FY2020[34]. - The Earthworks and Infrastructure segment did not record any revenue for the twelve months ended 30 September 2021, compared to RM0.4 million or 0.1% in FY2020[34]. Operational Challenges - The impact of COVID-19 restrictions has prolonged project completion durations, necessitating revised completion dates[22]. - The Group aims to increase productivity and expedite ongoing projects to mitigate delays caused by COVID-19 restrictions[30]. - The challenges faced include fluctuations in construction material prices and labor shortages due to frozen permits for foreign workers[44]. - The Group's operations improved since September 2021 due to the replacement of restrictive measures with the National Recovery Plan by the Government of Malaysia[30]. Future Outlook - The company expects a gradual recovery in revenue for the next fiscal year, projecting a revenue increase of 15% to RM 172.5 million[10]. - The Group plans to focus on completing current projects while revitalizing and rebuilding construction capabilities in anticipation of new initiatives in the development and construction business[43]. - The Group is confident in improving financial performance following the successful sanctioning of the debt restructuring scheme[42]. - The Group is applying for variation of price due to the increase in building materials and equipment costs[112]. - Future guidance remains cautious due to current segment losses and market conditions[197]. Shareholding and Governance - As of September 30, 2021, the total shares held by Dato' Michael Teh and Tan Sri Barry Goh amounted to 1,208,250,000, representing approximately 67.1% of the total shares issued[66][70][82]. - The total number of shares issued by the company as of September 30, 2021, is 1,800,000,000[70][83]. - The company has complied with the applicable code provisions of the Corporate Governance Code for the twelve months ended September 30, 2021[91]. - The company has adopted the Model Code for securities transactions by Directors and confirmed compliance by all Directors for the twelve months ended September 30, 2021[91]. Employee and Cost Management - Total staff costs incurred for the twelve months ended September 30, 2021 were RM11.8 million, a decrease from RM24.1 million recorded in FY2020[47]. - The Group had 145 employees as of September 30, 2021, a reduction from 229 employees as of September 30, 2020[54]. - Administrative and other expenses increased from RM38.8 million in FY2020 to RM49.9 million, mainly due to a loss on disposal of KAS Engineering amounting to RM14.3 million[47]. Debt and Financial Position - The Group's net gearing ratio improved to 0.17 times as of September 30, 2021, down from 0.25 times a year earlier[50]. - Total borrowings increased to RM69.6 million as of September 30, 2021, compared to RM69.3 million as of September 30, 2020, primarily due to financing the LSSPV power plant project[50]. - The Group's total staff costs decreased to RM11.8 million for the twelve months ended September 30, 2021, down from RM24.1 million in FY2020[54]. - The Group's financial statements are prepared on a going concern basis, dependent on continuous financial support from lenders, clients, and creditors[112]. Segment Performance - The Group operates in various segments, including building and structures, energy infrastructure, mechanical and electrical, earthworks, and concession and maintenance services[127]. - The Group's revenue from building construction was RM 198,773,000, building maintenance service income was RM 7,841,000, and supply and installation of elevators was RM 2,294,000 for the current period[121]. - Total revenue from continuing operations was RM 201,067,000, while discontinued operations contributed RM 7,841,000, totaling RM 208,908,000[121].