Financial Performance - The group's revenue increased from approximately MYR 329.3 million for the year ended June 30, 2024, to approximately MYR 427.0 million for the year ended June 30, 2025, representing a growth of about 29.6%[13]. - The net profit attributable to the owners of the company decreased to approximately MYR 1.3 million for the year ended June 30, 2025, down from approximately MYR 3.0 million for the year ended June 30, 2024, indicating a decline of about 56.7%[13]. - Gross profit increased by approximately 9.4 million Ringgit or 113.3% to about 17.7 million Ringgit for the year ending June 30, 2025, compared to approximately 8.3 million Ringgit for the year ending June 30, 2024[32]. - Overall gross margin improved from approximately 2.5% for the year ending June 30, 2024, to about 4.1% for the year ending June 30, 2025[32]. - Other income decreased from approximately 5.8 million Ringgit for the year ending June 30, 2024, to about 5.7 million Ringgit for the year ending June 30, 2025, primarily due to a reduction in income from subcontractors and suppliers[33]. - Net other income for the year ending June 30, 2025, was approximately 1.5 million Ringgit, compared to about 0.5 million Ringgit for the year ending June 30, 2024[34]. - General and administrative expenses increased by approximately 3.5 million Ringgit or 21.6% to about 19.7 million Ringgit for the year ending June 30, 2025[37]. - Financial costs decreased from approximately 1.0 million Ringgit for the year ending June 30, 2024, to about 0.6 million Ringgit for the year ending June 30, 2025[38]. - Income tax expense increased to approximately 1.7 million Ringgit for the year ending June 30, 2025, from about 0.8 million Ringgit for the year ending June 30, 2024[39]. - Cash and cash equivalents decreased to approximately 71.5 million Ringgit as of June 30, 2025, from 94.1 million Ringgit as of June 30, 2024[42]. - The current ratio decreased from approximately 1.7 times as of June 30, 2024, to about 1.6 times as of June 30, 2025, primarily due to a significant increase in contract liabilities[43]. Revenue Breakdown - Revenue from offshore construction services accounted for approximately 89.1% of total revenue, increasing by about 71.7 million MYR or 23.2% from approximately 308.8 million MYR to about 380.5 million MYR[28]. - Revenue from reclamation and related works increased by approximately 82.6 million MYR or 307.1% from approximately 26.9 million MYR to about 109.5 million MYR, primarily due to new contracts awarded since June 30, 2024[28]. - Revenue from marine transportation decreased by approximately 10.9 million MYR or 3.9% from about 281.9 million MYR to about 271.0 million MYR, mainly due to a decrease in sand transportation volume from Singapore contracts[29]. - Revenue from building and infrastructure services increased by approximately 28.3 million MYR or 155.5% from about 18.2 million MYR to about 46.5 million MYR, driven by new contracts executed since June 2024[30]. - Revenue from the largest and top five customers accounted for approximately 63.5% and 99.8% of the group's total revenue for the year ending June 30, 2025[153]. Contracts and Tenders - The group completed three offshore construction contracts with a total original contract value of approximately MYR 53.4 million and one building and infrastructure contract valued at approximately MYR 18.3 million during the fiscal year[19]. - As of June 30, 2025, the group had three ongoing offshore construction contracts with a total original contract value of approximately MYR 1,312.1 million and three ongoing building and infrastructure contracts valued at approximately MYR 152.4 million[19]. - The group submitted three tenders and two quotations with an expected total contract value of approximately 176.9 million MYR as of June 30, 2024[20]. - The group has submitted two quotations for offshore construction contracts and seven tenders and two quotations for building and infrastructure contracts with an original total contract value of approximately 717.3 million MYR for the year ending June 30, 2025[20]. - The group is focused on executing existing contracts, including a reclamation project in Johor with a total contract value of approximately MYR 0.6 million[66]. - The group has been selected as a shortlisted bidder for a large solar photovoltaic power plant project in Johor, with a capacity of 99.99 MW[69]. Market Outlook and Challenges - The group remains optimistic about the construction industry in Malaysia and Singapore, driven by the recent signing of the Johor-Singapore Economic Zone agreement and the anticipated launch of the Johor-Singapore MRT system in early 2027[14]. - The group faces challenges such as labor shortages and inflationary pressures that negatively impact profitability[14]. - The Johor-Singapore Economic Zone agreement aims to promote trade and strengthen economic ties, providing opportunities for growth in the construction sector[67]. - The group is optimistic about the construction industry in Malaysia and Singapore, despite facing competition and inflationary pressures[67]. Corporate Governance and Management - The group aims to enhance shareholder returns through high standards of corporate governance and transparency[15]. - The company emphasizes corporate governance through the appointment of experienced independent directors[87][89][91]. - The company has independent non-executive directors overseeing the audit, remuneration, and nomination committees, ensuring independent judgment and governance[87][89][91]. - The company has a strong focus on risk management and compliance through its audit and risk management committees[89][91]. - The board has received written annual confirmations regarding the independence of all independent non-executive directors[157]. - The company has established a remuneration policy for directors based on the group's performance and the directors' individual contributions[162]. Employee and Community Engagement - The total number of full-time employees increased from 64 to 68 from June 30, 2024, to June 30, 2025, indicating business expansion efforts[64]. - The group has implemented policies to ensure a safe and healthy work environment for employees and subcontractors[112]. - The company is actively involved in community service and has members participating in various advisory committees[92]. - The company made charitable contributions of approximately 0.4 million Ringgit during the fiscal year ending June 30, 2025, compared to 0.5 million Ringgit in 2024[152]. Risk Management - The group faces interest rate risk primarily from bank cash and loans, with cash flow interest rate risk concentrated on fluctuations in the Malaysian base lending rate[58]. - The group has no foreign exchange hedging policy but closely monitors foreign exchange risks, maintaining them at acceptable levels[59]. - Credit risk and liquidity may increase due to delays in client payments, impacting the group's financial condition and operational performance[105]. - Environmental and climate-related risks may affect the group's assets and operations, with extreme weather events expected to become more frequent[107]. - The group emphasizes environmental compliance and sustainability, aiming to reduce urban waste and energy usage while promoting recycling[108]. Shareholder Information - The board does not recommend any final dividend for the year ending June 30, 2025, consistent with the previous year[114]. - The board will continue to review the dividend policy and retains the right to update or modify it at any time[118]. - As of June 30, 2025, the reserves available for distribution to shareholders amount to approximately 114.0 million Ringgit[146]. - The company has not purchased, sold, or redeemed any of its listed securities during the fiscal year ending June 30, 2025[141]. - The company does not have any provisions regarding preemptive rights in its amended and restated articles of association[142]. Stock Option Plan - The group has established a stock option plan to incentivize employees and align their interests with the company's performance[126]. - The stock option plan allows the board to grant options to eligible participants for a period of ten years[128]. - The subscription price for shares under the stock option plan will be determined by the board but cannot be lower than the higher of the closing price on the specific date or the average closing price over the previous five trading days[129]. - The company has a maximum share limit for stock options, which cannot exceed 10% of the issued share capital at the time of listing, equating to 50,000,000 shares[130]. - The stock option plan has a remaining term of approximately three years and six months, expiring on April 10, 2029[137]. - The company has not granted, exercised, lapsed, or cancelled any stock options under the stock option plan since its adoption[138]. Ownership and Control - The total shares held by directors and senior management in the company amounted to 181,816,500 shares, representing approximately 36.36% of the issued share capital[169]. - The combined control of the company by Wong and Ngooi is approximately 71.10% of the total issued share capital[171]. - The non-competition agreement signed by the controlling shareholders ensures they will not engage in any competing business[177]. - The beneficial ownership of JBB Jade Investment Limited is entirely held by Wong, while JBB Berlian Investment Limited is fully owned by Ngooi[175][176]. - The company has confirmed compliance with the non-competition agreement from the listing date to the report date[179].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: JBB Builders International Limited 呈交日期: 2025年10月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01903 | 說明 | | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.01 | HKD | | | 20,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | | 本月底結存 | | | 2,000,000,000 | HKD | ...

Core Viewpoint - JBB BUILDERS (01903.HK) reported a significant increase in revenue for the fiscal year ending June 30, 2025, but experienced a substantial decline in net profit attributable to shareholders [1] Group 1: Financial Performance - The company's revenue reached 427 million Malaysian Ringgit, representing a year-on-year growth of 29.65% [1] - Net profit attributable to shareholders was 1.331 million Malaysian Ringgit, a decrease of 55.54% compared to the previous year [1] - Basic and diluted earnings per share were 0.27 sen Malaysian Ringgit [1] Group 2: Revenue Drivers and Challenges - The revenue increase was primarily driven by new contracts awarded for reclamation and related works, as well as building and infrastructure services since 2024 [1] - The growth was partially offset by several factors, including a decline in sand transportation volume from offshore contracts in Singapore [1] - The company did not engage in ship fuel trading during the fiscal year ending June 30, 2025, and several contracts that contributed to revenue were completed in the previous fiscal year ending June 30, 2024 [1]

Core Viewpoint - JBB BUILDERS (01903) reported a significant increase in revenue and profitability for the fiscal year ending June 30, 2025, driven by new contracts and completed construction projects [1] Financial Performance - Revenue reached approximately 427 million Malaysian Ringgit, representing a year-on-year growth of about 29.7% [1] - The profit attributable to the company's owners for the year was 1.331 million Malaysian Ringgit, marking a turnaround from a loss to profitability [1] - Basic and diluted earnings per share were 0.27 Malaysian Ringgit [1] Growth Drivers - The substantial revenue increase was primarily due to new contracts awarded for reclamation and related engineering, as well as building and infrastructure services since 2024 [1] - The company completed a higher volume of construction projects during the fiscal year ending June 30, 2025 [1] Offset Factors - The revenue growth was partially offset by several factors, including: - A decline in sand transportation volume from offshore contracts in Singapore [1] - No ship fuel trading activities during the period [1] - Completion of certain contracts in the fiscal year ending June 30, 2024, which had previously contributed to annual revenue [1]

[Performance Summary](index=1&type=section&id=%E6%A5%AD%E7%B8%BE%E6%91%98%E8%A6%81) [Key Financial Indicators](index=1&type=section&id=%E9%97%9C%E9%8D%B5%E8%B2%A1%E5%8B%99%E6%8C%87%E6%A8%99) For the year ended June 30, 2025, JBB Builders International Limited's revenue significantly increased by 29.7% to 426,980 thousand Ringgit, and gross profit grew by 113.3% year-on-year to 17,671 thousand Ringgit, with gross margin improving by 1.6 percentage points to 4.1%. However, profit attributable to owners of the Company for the year decreased by 55.6% to 1,331 thousand Ringgit, with basic and diluted earnings per share also decreasing accordingly Key Financial Indicators | Indicator | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | Increase/(Decrease) (thousand Ringgit) | | :--- | :--- | :--- | :--- | | Revenue | 426,980 | 329,330 | 97,650 | | Gross profit | 17,671 | 8,332 | 9,339 | | Gross margin | 4.1% | 2.5% | 1.6% | | Impairment losses on trade receivables and contract assets (provision)/reversal | (1,608) | 5,736 | (7,344) | | Profit for the year attributable to owners of the Company | 1,331 | 2,994 | (1,663) | | Total equity attributable to owners of the Company | 124,962 | 129,149 | (4,187) | | Basic and diluted earnings per share (cents) | 0.27 | 0.60 | (0.33) | [Annual Results](index=2&type=section&id=%E5%B9%B4%E5%BA%A6%E6%A5%AD%E7%B8%BE) [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) For the year ended June 30, 2025, the Group's revenue increased to 426,980 thousand Ringgit, with a significant rise in gross profit. However, increased impairment provisions for trade receivables and contract assets, coupled with higher income tax expenses, led to a decrease in profit for the year from 2,394 thousand Ringgit to 1,255 thousand Ringgit, and currency translation differences shifted from income to expense, resulting in a total comprehensive expense for the year Consolidated Statement of Profit or Loss and Other Comprehensive Income | Indicator | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Revenue | 426,980 | 329,330 | | Direct costs | (409,309) | (320,998) | | Gross profit | 17,671 | 8,332 | | Other income | 5,660 | 5,845 | | Net other income | 1,499 | 474 | | Impairment losses on trade receivables and contract assets (provision)/reversal | (1,608) | 5,736 | | General and administrative expenses | (19,658) | (16,177) | | Operating profit | 3,564 | 4,210 | | Profit before tax | 2,917 | 3,226 | | Income tax expense | (1,662) | (832) | | Profit for the year | 1,255 | 2,394 | | Exchange differences on translation | (5,518) | 629 | | Total comprehensive (expense)/income for the year | (4,263) | 3,023 | | Profit for the year attributable to owners of the Company | 1,331 | 2,994 | | Basic earnings per share (cents) | 0.27 | 0.60 | [Consolidated Statement of Financial Position](index=3&type=section&id=%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of June 30, 2025, the Group's total assets slightly decreased, with non-current assets declining primarily due to a reduction in deposits for investment properties. Trade and other receivables within current assets significantly increased, while cash and cash equivalents decreased; current liabilities substantially rose, leading to a modest increase in net current assets, while both net assets and total equity attributable to owners of the Company decreased Consolidated Statement of Financial Position | Indicator | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | **Non-current assets** | | | | Property, plant and equipment | 1,667 | 1,337 | | Investment properties | – | 2,200 | | Deposits paid for acquisition of investment properties | 27,637 | 42,710 | | Total non-current assets | 30,487 | 47,554 | | **Current assets** | | | | Trade and other receivables | 147,986 | 92,419 | | Contract assets | 28,690 | 32,720 | | Cash and cash equivalents | 71,451 | 94,095 | | Total current assets | 266,331 | 229,254 | | **Current liabilities** | | | | Trade and other payables | 142,775 | 123,355 | | Contract liabilities | 13,793 | 5,113 | | Total current liabilities | 162,693 | 133,654 | | Net current assets | 103,638 | 95,600 | | Net assets | 131,660 | 136,351 | | Total equity attributable to owners of the Company | 124,962 | 129,149 | [Notes to the Consolidated Financial Statements](index=4&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) [General Information](index=4&type=section&id=General%20Information) JBB Builders International Limited, incorporated in the Cayman Islands and listed on the Main Board of the Hong Kong Stock Exchange, primarily engages in marine construction services, building and infrastructure services, and marine fuel trading, ultimately controlled by Dato' Wong Sze Chian and Datin Ngooi Leng Swee - The Company was incorporated in the Cayman Islands on April 30, 2018, and listed on the Main Board of the Hong Kong Stock Exchange on May 10, 2019[6](index=6&type=chunk) - Principal activities include marine construction services, building and infrastructure services, and marine fuel trading business[6](index=6&type=chunk) - The Company is ultimately controlled by Dato' Wong Sze Chian and Datin Ngooi Leng Swee[6](index=6&type=chunk) [Basis of Preparation of Consolidated Financial Statements](index=4&type=section&id=Basis%20of%20Preparation%20of%20Consolidated%20Financial%20Statements) The Group's consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) and the disclosure requirements of the Hong Kong Companies Ordinance; while the functional currency is Hong Kong Dollars, the consolidated financial statements are presented in Malaysian Ringgit due to primary business activities in Malaysia and Singapore, with a historical cost basis of measurement, except for investment properties presented at fair value - Financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) and the disclosure requirements of the Hong Kong Companies Ordinance[7](index=7&type=chunk) - The Company's functional currency is Hong Kong Dollars, but the consolidated financial statements are presented in Malaysian Ringgit, as the principal business activities are in Malaysia and Singapore[8](index=8&type=chunk) - The measurement basis is historical cost, except for investment properties which are presented at fair value[9](index=9&type=chunk) [Application of Revised International Financial Reporting Standards](index=5&type=section&id=Application%20of%20Revised%20International%20Financial%20Reporting%20Standards) Several revised International Financial Reporting Standards, including IFRS 16 (Amendments) and IAS 1 (Amendments), were first applied this year, with no significant impact on the Group's current and prior period financial position and performance - Revised International Financial Reporting Standards, including IFRS 16 (Amendments) and IAS 1 (Amendments), were first applied in the current year[12](index=12&type=chunk) - The application of these amendments had no significant impact on the Group's financial position and performance for the current and prior periods[12](index=12&type=chunk) [Revenue and Segment Reporting](index=6&type=section&id=Revenue%20and%20Segment%20Reporting) The Group's revenue primarily derives from marine construction services, building and infrastructure services, and marine fuel trading; total revenue for FY2025 increased to 426,980 thousand Ringgit, with significant growth in reclamation and related works revenue, a slight decrease in marine transportation revenue, and no revenue from marine fuel trading, while the Group is organized into four reportable segments based on products and services, which the chief operating decision maker uses to assess performance - The Group's principal activities are the provision of marine construction services, building and infrastructure services, and marine fuel trading business[13](index=13&type=chunk) Disaggregation of Revenue from Contracts with Customers | Product or service line | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Construction contracts - reclamation and related works | 109,501 | 26,927 | | Construction contracts - building and infrastructure | 46,522 | 18,209 | | Marine transportation | 270,957 | 281,882 | | Marine fuel | – | 2,312 | | **Total revenue** | **426,980** | **329,330** | - As of June 30, 2025, the aggregate amount of the transaction price allocated to the remaining performance obligations under existing contracts was approximately **610,938 thousand Ringgit**, expected to be recognized between 2026 and 2029[14](index=14&type=chunk) [Disaggregation of Revenue](index=6&type=section&id=Disaggregation%20of%20Revenue) In FY2025, revenue from construction contracts, including reclamation and related works, and building and infrastructure, significantly increased, while marine transportation revenue slightly decreased, and marine fuel trading ceased to generate revenue; construction contract revenue is recognized over time, while marine transportation and marine fuel revenue are recognized at a point in time Disaggregation of Revenue from Contracts with Customers | Product or service line | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Construction contracts - reclamation and related works | 109,501 | 26,927 | | Construction contracts - building and infrastructure | 46,522 | 18,209 | | Marine transportation | 270,957 | 281,882 | | Marine fuel | – | 2,312 | | **Total revenue** | **426,980** | **329,330** | - Revenue from construction contracts is recognized over time, while revenue from marine transportation and marine fuel is recognized at a point in time[13](index=13&type=chunk) [Segment Reporting](index=7&type=section&id=Segment%20Reporting) The Group has four reportable segments: marine construction services (reclamation and related works, marine transportation), building and infrastructure services, and marine fuel trading business. In FY2025, profits from marine construction services and building and infrastructure services segments significantly increased, while marine fuel operations ceased. Segment profit excludes central administrative expenses, net other income, finance costs, and share of loss of a joint venture - The Group has four reportable segments: marine construction services (reclamation and related works, marine transportation), building and infrastructure services, and marine fuel trading business[16](index=16&type=chunk)[17](index=17&type=chunk)[18](index=18&type=chunk)[20](index=20&type=chunk) Reportable Segment Revenue and Profit (2025) | Segment | Revenue (thousand Ringgit) | Profit/(Loss) (thousand Ringgit) | | :--- | :--- | :--- | | Reclamation and related works | 109,501 | 9,561 | | Marine transportation | 270,957 | 12,462 | | Building and infrastructure | 46,522 | (32) | | **Total** | **426,980** | **21,991** | Reportable Segment Revenue and Profit (2024) | Segment | Revenue (thousand Ringgit) | Profit/(Loss) (thousand Ringgit) | | :--- | :--- | :--- | | Reclamation and related works | 26,927 | 8,535 | | Marine transportation | 281,882 | 6,943 | | Building and infrastructure | 18,209 | (980) | | Marine fuel | 2,312 | 193 | | **Total** | **329,330** | **14,691** | [Geographical Information](index=9&type=section&id=Geographical%20Information) The Group's revenue primarily originates from Malaysia and Singapore; in FY2025, revenue from Malaysia significantly increased, while revenue from Singapore slightly decreased Geographical Information of Revenue from External Customers | Region | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Malaysia (country of domicile) | 156,023 | 45,136 | | Singapore | 270,957 | 284,194 | | **Total** | **426,980** | **329,330** | [Other Income and Net Other Income](index=10&type=section&id=Other%20Income%20and%20Net%20Other%20Income) In FY2025, other income slightly decreased, primarily due to reduced processing service fees for marine transportation and interest income from financial assets, partially offset by interest income from trade receivables from a customer; net other income significantly increased, mainly driven by gains from disposal of deposits for investment properties, disposal of a non-wholly owned subsidiary, and foreign exchange gains Other Income | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Processing service fees for marine transportation services | 2,191 | 2,831 | | Interest income from financial assets measured at amortized cost | 1,216 | 2,417 | | Interest income from trade receivables from a customer | 2,074 | – | | **Total** | **5,660** | **5,845** | Net Other Income | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Gain on disposal of deposits paid for acquisition of investment properties | 1,339 | 314 | | Gain on disposal of a non-wholly owned subsidiary | 572 | – | | Net foreign exchange gain/(loss) | 259 | (51) | | Fair value loss on investment properties | (700) | – | | **Total** | **1,499** | **474** | [Other Income](index=10&type=section&id=Other%20Income) Other income for FY2025 was 5,660 thousand Ringgit, a slight decrease from 5,845 thousand Ringgit in 2024, primarily due to reduced processing service fees for marine transportation and interest income from financial assets, partially offset by interest income from trade receivables from a customer Details of Other Income | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Processing service fees for marine transportation services | 2,191 | 2,831 | | Interest income from financial assets measured at amortized cost | 1,216 | 2,417 | | Interest income from trade receivables from a customer | 2,074 | – | | Estimated interest income on contract assets | – | 516 | | Processing service fees for diesel supply | 10 | 74 | | Others | 169 | 7 | | **Total** | **5,660** | **5,845** | [Net Other Income](index=10&type=section&id=Net%20Other%20Income) Net other income for FY2025 significantly increased to 1,499 thousand Ringgit from 474 thousand Ringgit in 2024, primarily contributed by gains from disposal of deposits for investment properties, disposal of a non-wholly owned subsidiary, and foreign exchange gains, partially offset by fair value losses on investment properties Details of Net Other Income | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Gain on disposal of deposits paid for acquisition of investment properties | 1,339 | 314 | | Gain on disposal of a non-wholly owned subsidiary | 572 | – | | Net foreign exchange gain/(loss) | 259 | (51) | | Gain on deposits for life insurance policies | 16 | 16 | | Gain on partial disposal of a joint venture | 11 | – | | Gain on disposal of property, plant and equipment | 2 | 14 | | Fair value loss on investment properties | (700) | – | | Reversal of impairment loss on deposits paid for acquisition of investment properties | – | 181 | | **Total** | **1,499** | **474** | [Components of Profit Before Tax](index=10&type=section&id=Components%20of%20Profit%20Before%20Tax) Profit before tax is influenced by several factors: finance costs decreased due to reduced bank loan balances, staff costs increased due to higher headcount and remuneration adjustments, and impairment losses on trade receivables and contract assets shifted from reversal to provision, negatively impacting profit - Finance costs decreased from **963 thousand Ringgit** in 2024 to **639 thousand Ringgit** in 2025, primarily due to a reduction in interest on bank loans[26](index=26&type=chunk) - Staff costs (including directors' emoluments) increased from **10,527 thousand Ringgit** in 2024 to **11,805 thousand Ringgit** in 2025[27](index=27&type=chunk) - Impairment losses on trade receivables and contract assets shifted from a **5,736 thousand Ringgit** reversal in 2024 to a **1,608 thousand Ringgit** provision in 2025[27](index=27&type=chunk) [Finance Costs](index=10&type=section&id=Finance%20Costs) Finance costs for FY2025 were 639 thousand Ringgit, a decrease from 963 thousand Ringgit in 2024, primarily due to reduced interest on bank loans and estimated interest on contract assets Details of Finance Costs | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Interest on bank loans | 604 | 865 | | Estimated interest on contract assets | – | 71 | | Interest on lease liabilities | 35 | 27 | | **Total** | **639** | **963** | [Staff Costs and Other Items](index=11&type=section&id=Staff%20Costs%20and%20Other%20Items) Total staff costs for FY2025 increased to 11,805 thousand Ringgit year-on-year; among other items, impairment losses on trade receivables and contract assets shifted from reversal to provision, negatively impacting profit, while gains arose from the disposal of deposits for investment properties and a non-wholly owned subsidiary Details of Staff Costs | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Salaries, wages and other benefits | 10,711 | 9,636 | | Contributions to defined contribution retirement plans | 1,094 | 891 | | **Total** | **11,805** | **10,527** | Details of Other Items | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Depreciation expense | 517 | 491 | | Short-term lease expenses | 170 | 201 | | Impairment losses on trade receivables and contract assets provision/(reversal) | 1,608 | (5,736) | | Auditors' remuneration | 408 | 396 | | Gain on disposal of deposits paid for acquisition of investment properties | (1,339) | (314) | | Gain on disposal of a non-wholly owned subsidiary | (572) | – | | Fair value loss on investment properties | 700 | – | [Dividends](index=12&type=section&id=Dividends) The Board does not recommend the declaration of any final dividend for the year ended June 30, 2025, consistent with 2024 - The Board does not recommend the declaration of any final dividend for the year ended June 30, 2025 (2024: nil)[28](index=28&type=chunk) [Income Tax Expense](index=12&type=section&id=Income%20Tax%20Expense) Income tax expense for FY2025 increased to 1,662 thousand Ringgit, primarily due to higher taxable profits from Singaporean and Malaysian subsidiaries; the Group is not subject to income tax in the Cayman Islands and Hong Kong Details of Income Tax Expense | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Malaysian corporate income tax | 163 | 10 | | Singaporean corporate income tax | 1,587 | 954 | | Over-provision in prior years | (130) | (143) | | Deferred tax | 42 | 11 | | **Income tax expense for the year** | **1,662** | **832** | - The increase in income tax expense was mainly due to higher taxable profits from Singaporean and Malaysian subsidiaries[29](index=29&type=chunk) - The Group is not subject to any income tax in the Cayman Islands and British Virgin Islands, and no provision for Hong Kong profits tax has been made[29](index=29&type=chunk) [Earnings Per Share](index=13&type=section&id=Earnings%20Per%20Share) Basic earnings per share for FY2025 decreased to 0.27 cents from 0.60 cents in 2024; diluted earnings per share remained the same as basic earnings per share due to the absence of dilutive potential ordinary shares Earnings Per Share | Indicator | 2025 (cents) | 2024 (cents) | | :--- | :--- | :--- | | Basic earnings per share | 0.27 | 0.60 | | Diluted earnings per share | 0.27 | 0.60 | - Basic earnings per share is calculated based on the consolidated profit attributable to owners of the Company of approximately **1,331 thousand Ringgit** (2024: **2,994 thousand Ringgit**) and the weighted average of **500,000,000** ordinary shares in issue[30](index=30&type=chunk) - Diluted earnings per share is the same as basic earnings per share as there were no dilutive potential ordinary shares[31](index=31&type=chunk) [Deposits](index=13&type=section&id=Deposits) The Group's deposits primarily comprise deposits paid for the acquisition of investment properties and deposits for life insurance policies; in FY2025, investment property deposits decreased due to partial property sales, while life insurance policy deposits slightly increased due to gain recognition - As of June 30, 2025, deposits paid for the acquisition of investment properties amounted to **27,637 thousand Ringgit**, a decrease from **42,710 thousand Ringgit** in 2024[35](index=35&type=chunk) - As of June 30, 2025, deposits for life insurance policies amounted to **1,054 thousand Ringgit**, a slight increase from **1,038 thousand Ringgit** in 2024[36](index=36&type=chunk) [Deposits Paid for Acquisition of Investment Properties](index=13&type=section&id=Deposits%20Paid%20for%20Acquisition%20of%20Investment%20Properties) In FY2025, the Group disposed of 7 properties in Johor, Malaysia, recognizing a net gain of approximately 1,339 thousand Ringgit and derecognizing deposits of approximately 15,073 thousand Ringgit; agreements for the disposal of 4 other properties are pending foreign approval. As of year-end, total deposits paid for the acquisition of investment properties amounted to 27,637 thousand Ringgit, of which approximately 12,911 thousand Ringgit were pledged to banks - In FY2025, the Group disposed of **7** properties, recognizing a net gain of approximately **1,339 thousand Ringgit** and derecognizing deposits of approximately **15,073 thousand Ringgit**[32](index=32&type=chunk) - As of June 30, 2025, total deposits paid for the acquisition of investment properties amounted to **27,637 thousand Ringgit** (2024: **42,710 thousand Ringgit**), involving **34** (2024: **41**) investment properties[34](index=34&type=chunk)[35](index=35&type=chunk) - Approximately **12,911 thousand Ringgit** of investment property deposits were pledged to banks as collateral for bank financing[35](index=35&type=chunk) [Deposits for Life Insurance Policies](index=15&type=section&id=Deposits%20for%20Life%20Insurance%20Policies) The Group holds two life insurance policies (2020 and 2021 policies) to protect an executive director, with the bank as beneficiary for repayment of bank loans; deposits are accounted for at the cash surrender value of the policies and are expected to terminate on the 10th anniversary of the effective date, with no specific surrender charges Deposits for Life Insurance Policies | Date | thousand Ringgit | | :--- | :--- | | As at 1 July 2023 | 1,022 | | Gain on deposits for life insurance policies | 16 | | As at 30 June 2024 | 1,038 | | Gain on deposits for life insurance policies | 16 | | As at 30 June 2025 | 1,054 | - The Group purchased two life insurance policies (2020 and 2021 policies) to protect an executive director, with the bank as beneficiary for repayment of bank loans[36](index=36&type=chunk)[37](index=37&type=chunk) - Policy deposits are accounted for at the cash surrender value of the policies, expected to terminate on the 10th anniversary of the effective date, with no specific surrender charges[37](index=37&type=chunk) [Trade and Other Receivables](index=16&type=section&id=Trade%20and%20Other%20Receivables) As of June 30, 2025, total trade and other receivables significantly increased to 147,986 thousand Ringgit; the aging analysis of trade receivables shows a notable increase in amounts over 90 days, with most receivables expected to be recovered within one year, and some trade receivables and contract assets pledged against properties Trade and Other Receivables | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Trade receivables (net of allowance for doubtful debts) | 134,648 | 81,175 | | Deposits, prepayments and other receivables | 3,950 | 9,917 | | Other receivables from disposal of deposits paid for acquisition of investment properties | 9,388 | 1,327 | | **Total** | **147,986** | **92,419** | Aging Analysis of Trade Receivables | Aging | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Within 30 days | 39,503 | 31,355 | | 31 to 60 days | 50,128 | 32,293 | | 61 to 90 days | 13,563 | 15,364 | | Over 90 days | 31,454 | 2,163 | | **Total** | **134,648** | **81,175** | - Trade receivables of approximately **3,305 thousand Ringgit** and contract assets of approximately **33 thousand Ringgit** from a customer are pledged against **3** properties[41](index=41&type=chunk) [Construction Contracts](index=18&type=section&id=Construction%20Contracts) As of June 30, 2025, total contract assets amounted to 28,690 thousand Ringgit, largely comprising retention receivables, with a significant increase in amounts expected to be recovered after more than one year; contract liabilities substantially rose to 13,793 thousand Ringgit, primarily due to advances received for performance Contract Assets | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | From performance of construction contracts | 4,455 | 3,496 | | Retention receivables | 24,235 | 29,224 | | **Total** | **28,690** | **32,720** | - Amounts included in contract assets of approximately **20,162 thousand Ringgit** (2024: **2,095 thousand Ringgit**) are expected to be recovered after more than one year, all related to retention receivables[43](index=43&type=chunk) Contract Liabilities | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Construction contracts - advances received for performance | 13,793 | 5,113 | [Contract Assets](index=18&type=section&id=Contract%20Assets) As of June 30, 2025, total contract assets amounted to 28,690 thousand Ringgit, primarily comprising retention receivables, with amounts expected to be recovered after more than one year significantly increasing to 20,162 thousand Ringgit Details of Contract Assets | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | From performance of construction contracts | 4,455 | 3,496 | | Retention receivables | 24,235 | 29,224 | | **Total** | **28,690** | **32,720** | - Approximately **20,162 thousand Ringgit** (2024: **2,095 thousand Ringgit**) of contract assets are expected to be recovered after more than one year, all related to retention receivables[43](index=43&type=chunk) [Contract Liabilities](index=18&type=section&id=Contract%20Liabilities) As of June 30, 2025, contract liabilities significantly increased to 13,793 thousand Ringgit from 5,113 thousand Ringgit in 2024, primarily due to advances received for performance of construction contracts Details of Contract Liabilities | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Construction contracts - advances received for performance | 13,793 | 5,113 | [Assets Classified as Held for Sale](index=19&type=section&id=Assets%20Classified%20as%20Held%20for%20Sale) As of June 30, 2025, the Group reclassified investment properties valued at 1,500 thousand Ringgit as assets held for sale, resulting in a fair value loss of 700 thousand Ringgit; this aligns with the Group's long-term policy to focus on construction business and is expected to be completed within 12 months - The Group entered into sale and purchase agreements to dispose of investment properties of approximately **1,500 thousand Ringgit** to **2** independent third parties, classifying them as assets held for sale[44](index=44&type=chunk) - The reclassification of investment properties resulted in a fair value loss of **700 thousand Ringgit**, representing the difference between the disposal proceeds of **1,500 thousand Ringgit** and the carrying amount of the investment properties of **2,200 thousand Ringgit**[44](index=44&type=chunk) - This disposal aligns with the Group's long-term policy to focus its business on construction and is expected to be completed within **12** months[44](index=44&type=chunk) [Trade and Other Payables](index=19&type=section&id=Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables increased to 142,775 thousand Ringgit; the aging analysis of trade payables shows an increase in amounts over 90 days, with most payables expected to be settled within one year, but some retention payables expected to be settled after one year Trade and Other Payables | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Trade payables | 129,804 | 118,979 | | Other payables and accrued expenses | 947 | 819 | | Retention payables | 12,024 | 3,557 | | **Total** | **142,775** | **123,355** | Aging Analysis of Trade Payables | Aging | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Within 30 days | 54,487 | 52,129 | | 31 to 90 days | 64,582 | 63,140 | | Over 90 days | 10,735 | 3,710 | | **Total** | **129,804** | **118,979** | - Approximately **7,960 thousand Ringgit** (2024: **1,145 thousand Ringgit**) of retention payables are expected to be settled after one year[45](index=45&type=chunk) [Bank Borrowings](index=20&type=section&id=Bank%20Borrowings) As of June 30, 2025, the Group's total bank borrowings decreased to 6,384 thousand Ringgit from 10,458 thousand Ringgit in 2024; these loans bear interest at 7.2% and are secured by assets classified as held for sale, deposits for investment properties, and pledged bank deposits Bank Borrowings | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Bank borrowings, secured | 6,384 | 10,458 | | Within one year or on demand | 4,410 | 4,118 | | In the second year | 1,974 | 4,363 | | In the third to fifth years | – | 1,977 | | **Total** | **6,384** | **10,458** | - Bank borrowings bear interest at **7.2%** and are secured by assets classified as held for sale, deposits paid for the acquisition of investment properties, and pledged bank deposits[46](index=46&type=chunk) [Share Capital](index=21&type=section&id=Share%20Capital) As of June 30, 2025, the Company's authorized ordinary shares were 2,000,000,000 with a par value of HK$0.01 each, amounting to 10,535 thousand Ringgit; issued and fully paid ordinary shares were 500,000,000, amounting to 2,672 thousand Ringgit, unchanged from the previous year Share Capital | Item | Number of shares | Amount (thousand Ringgit) | | :--- | :--- | :--- | | Authorized ordinary shares (par value HK$0.01 each) | 2,000,000,000 | 10,535 | | Issued and fully paid ordinary shares (par value HK$0.01 each) | 500,000,000 | 2,672 | [Capital Commitments](index=21&type=section&id=Capital%20Commitments) As of June 30, 2025, the Group's significant capital expenditure contracted but not recognized as liabilities amounted to 81 thousand Ringgit, consistent with 2024, primarily for equipment Capital Commitments | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Equipment | 81 | 81 | [Disposal of a Non-wholly Owned Subsidiary](index=21&type=section&id=Disposal%20of%20a%20Non-wholly%20Owned%20Subsidiary) In FY2025, the Group disposed of its 50% interest in the non-wholly owned subsidiary Gabungan Jasapadu Sdn. Bhd. for a total consideration of 1,000 thousand Ringgit, recognizing a gain on disposal of 572 thousand Ringgit, which generated a net cash inflow of 798 thousand Ringgit for the Group - The Group disposed of its **50%** interest in the non-wholly owned subsidiary Gabungan Jasapadu Sdn. Bhd.[48](index=48&type=chunk) - The total consideration for the disposal was **1,000 thousand Ringgit**, with a gain on disposal of **572 thousand Ringgit** recognized[49](index=49&type=chunk) - The disposal resulted in a net cash inflow of **798 thousand Ringgit**[49](index=49&type=chunk) [Management Discussion and Analysis](index=23&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review](index=23&type=section&id=Business%20Review) As an engineering contractor, the Group primarily engages in marine construction services, building and infrastructure services, and marine fuel trading. In FY2025, the Group completed 3 marine construction contracts and 1 building and infrastructure contract, with 3 marine construction contracts and 3 building and infrastructure contracts ongoing. The Group actively submits new tenders and quotations and has been awarded 2 new contracts - The Group primarily engages in marine construction services (reclamation and related works, marine transportation), building and infrastructure services, and marine fuel trading business[50](index=50&type=chunk)[51](index=51&type=chunk) - In FY2025, the Group completed **3** marine construction contracts and **1** building and infrastructure contract[50](index=50&type=chunk) - As of June 30, 2025, the Group had **3** ongoing marine construction contracts (original contract sum of approximately **1,312.1 million Ringgit**) and **3** ongoing building and infrastructure contracts (original contract sum of approximately **152.4 million Ringgit**)[50](index=50&type=chunk) [Disposal of Subsidiaries and Joint Ventures](index=24&type=section&id=Disposal%20of%20Subsidiaries%20and%20Joint%20Ventures) In FY2025, the Group undertook two disposals: the sale of non-wholly owned subsidiary Gabungan Jasapadu Sdn. Bhd. to recover investment costs, convert long-term assets into working capital, and focus resources on more promising construction businesses; and the partial disposal of equity in joint venture JBB Kimlun Sdn. Bhd. to introduce Malaysian shareholders, generate more business opportunities, and enhance public perception. Both transactions were deemed de minimis connected transactions, exempt from disclosure and shareholder approval requirements - The consideration for the disposal of non-wholly owned subsidiary Gabungan Jasapadu Sdn. Bhd. was **1.0 million Ringgit**, with a gain of approximately **0.6 million Ringgit** recognized[53](index=53&type=chunk) - The disposal of Gabungan aimed to recover investment costs, realize assets, convert long-term assets into working capital, and concentrate resources on more promising construction areas[54](index=54&type=chunk) - The disposal of a **35%** equity interest in JBB Kimlun Sdn. Bhd. for a consideration of **150,000 Ringgit**, recognizing a gain on disposal of approximately **11,000 Ringgit**, aimed to introduce Malaysian shareholders to generate more business opportunities[55](index=55&type=chunk)[56](index=56&type=chunk) [Disposal of Non-wholly Owned Subsidiary Gabungan Jasapadu Sdn. Bhd.](index=24&type=section&id=Disposal%20of%20Non-wholly%20Owned%20Subsidiary%20Gabungan%20Jasapadu%20Sdn.%20Bhd.) The Group disposed of its 50% interest in the non-wholly owned subsidiary Gabungan Jasapadu Sdn. Bhd. for a consideration of 1.0 million Ringgit, recognizing a gain of approximately 0.6 million Ringgit; this move aimed to recover investment costs, realize assets, convert long-term assets into working capital, and concentrate resources on more promising construction areas - The consideration for the disposal of Gabungan Jasapadu Sdn. Bhd. was **1.0 million Ringgit**, with a gain of approximately **0.6 million Ringgit** recognized[53](index=53&type=chunk) - The disposal aimed to provide the Group with a one-off opportunity to recover investment costs and realize assets, convert long-term assets into working capital, and concentrate resources on other more promising existing projects[54](index=54&type=chunk) [Disposal of Partial Equity Interest in JBB Kimlun Sdn. Bhd.](index=25&type=section&id=Disposal%20of%20Partial%20Equity%20Interest%20in%20JBB%20Kimlun%20Sdn.%20Bhd.) The Group disposed of a 35% equity interest in JBB Kimlun Sdn. Bhd. for a consideration of 150,000 Ringgit, recognizing a gain on disposal of approximately 11,000 Ringgit; this move aimed to introduce Malaysian shareholders, generate more business opportunities for the Group, and enhance public perception of the Group's background - The disposal of a **35%** equity interest in JBB Kimlun Sdn. Bhd. for a consideration of **150,000 Ringgit** resulted in a gain on disposal of approximately **11,000 Ringgit**[55](index=55&type=chunk) - Restructuring JBB Kimlun's equity and introducing Malaysian shareholders will help generate more business opportunities for the Group and positively impact public perception of the Group's background[56](index=56&type=chunk) - As of June 30, 2025, the Group holds a **25%** interest in JBB Kimlun, which remains a joint venture[56](index=56&type=chunk) [Financial Review](index=25&type=section&id=Financial%20Review) In FY2025, the Group's revenue grew by 29.7% to 427.0 million Ringgit, driven by increased work volume from new contracts in reclamation and related works, and building and infrastructure services. Gross profit significantly increased by 113.3%, with gross margin improving to 4.1%. However, increased impairment provisions for trade receivables, higher general and administrative expenses, and increased income tax expense led to a decrease in profit attributable to owners of the Company for the year. The Board does not recommend a final dividend - Revenue increased by **29.7%** from **329.3 million Ringgit** in 2024 to **427.0 million Ringgit** in 2025, primarily due to increased work volume from new contracts in reclamation and related works, and building and infrastructure services[57](index=57&type=chunk) - Gross profit increased by **113.3%** from **8.3 million Ringgit** in 2024 to **17.7 million Ringgit** in 2025, with the overall gross margin increasing from **2.5%** to **4.1%**[62](index=62&type=chunk) - Profit attributable to owners of the Company for the year decreased from **3.0 million Ringgit** in 2024 to **1.3 million Ringgit** in 2025[69](index=69&type=chunk) [Revenue](index=25&type=section&id=Revenue) Total revenue for FY2025 increased by 29.7% to 427.0 million Ringgit. Marine construction services revenue grew by 23.2%, with reclamation and related works revenue significantly increasing by 307.1%, while marine transportation revenue decreased by 3.9%. Building and infrastructure services revenue increased by 155.5%. Marine fuel trading business generated no revenue Revenue by Business Segment | Business segment | 2025 (million Ringgit) | 2024 (million Ringgit) | Growth rate | | :--- | :--- | :--- | :--- | | Total revenue | 427.0 | 329.3 | 29.7% | | Marine construction services | 380.5 | 308.8 | 23.2% | | - Reclamation and related works | 109.5 | 26.9 | 307.1% | | - Marine transportation | 271.0 | 281.9 | -3.9% | | Building and infrastructure services | 46.5 | 18.2 | 155.5% | | Marine fuel trading business | – | 2.3 | -100% | - The marine fuel trading business did not generate any revenue, and the Group expects to focus its business on the construction sector in the future[61](index=61&type=chunk) [Gross Profit](index=27&type=section&id=Gross%20Profit) Gross profit for FY2025 significantly increased by 113.3% to 17.7 million Ringgit, with the overall gross margin improving to 4.1%; this growth was primarily driven by increased revenue and higher gross margins from newly awarded contracts, partially offset by liquidated damages and additional engineering costs due to delayed completion of building and infrastructure contracts Gross Profit and Gross Margin | Indicator | 2025 (million Ringgit) | 2024 (million Ringgit) | Growth rate | | :--- | :--- | :--- | :--- | | Gross profit | 17.7 | 8.3 | 113.3% | | Gross margin | 4.1% | 2.5% | 1.6 percentage points | - The increase in gross profit was mainly attributable to increased revenue and higher gross margins from certain newly awarded and progressively performed contracts[62](index=62&type=chunk) - Part of the increase was offset by liquidated damages and additional engineering costs incurred due to delayed completion of building and infrastructure contracts[62](index=62&type=chunk) [Other Income and Net Other Income](index=27&type=section&id=Other%20Income%20and%20Net%20Other%20Income) In FY2025, other income slightly decreased, primarily due to reduced processing service fees for marine transportation and interest income from financial assets, partially offset by interest income from trade receivables from a customer; net other income significantly increased, mainly driven by gains from disposal of deposits for investment properties, disposal of a non-wholly owned subsidiary, and foreign exchange gains - Other income decreased from **5.8 million Ringgit** in 2024 to **5.7 million Ringgit** in 2025, mainly due to reduced income from marine transportation related activities and interest income from bank deposits[63](index=63&type=chunk) - Net other income was approximately **1.5 million Ringgit** (2024: **0.5 million Ringgit**), primarily comprising gains from disposal of deposits for investment properties, disposal of Gabungan, and foreign exchange gains[64](index=64&type=chunk) [Impairment Losses on Trade Receivables and Contract Assets](index=28&type=section&id=Impairment%20Losses%20on%20Trade%20Receivables%20and%20Contract%20Assets) An impairment loss provision of approximately 1.6 million Ringgit was recognized in FY2025, primarily due to increased balances of trade receivables and contract assets, certain customers' inability to meet repayment plans, and expected loss rate assessments. In contrast, FY2024 saw an impairment loss reversal of approximately 5.7 million Ringgit, driven by improved customer collections and reduced credit risk - An impairment loss provision of approximately **1.6 million Ringgit** was recognized in FY2025 due to increased receivable balances, customer repayment difficulties, and expected loss rate assessments[65](index=65&type=chunk) - An impairment loss reversal of approximately **5.7 million Ringgit** was recognized in FY2024 due to improved customer collections and significantly reduced credit risk[65](index=65&type=chunk) [General and Administrative Expenses](index=28&type=section&id=General%20and%20Administrative%20Expenses) General and administrative expenses for FY2025 increased by 21.6% to 19.7 million Ringgit, primarily due to increased staff headcount, higher remuneration, increased legal and professional fees, and higher stamp duty resulting from the disposal of deposits for investment properties General and Administrative Expenses | Indicator | 2025 (million Ringgit) | 2024 (million Ringgit) | Growth rate | | :--- | :--- | :--- | :--- | | General and administrative expenses | 19.7 | 16.2 | 21.6% | - The increase was mainly due to higher staff costs resulting from increased headcount, higher staff remuneration, increased legal and professional fees, and increased stamp duty arising from the disposal of deposits paid for the acquisition of investment properties[66](index=66&type=chunk) [Finance Costs](index=28&type=section&id=Finance%20Costs) Finance costs for FY2025 decreased to 0.6 million Ringgit, primarily due to reduced interest on bank loans resulting from lower bank loan balances, and decreased estimated interest on contract assets Finance Costs | Indicator | 2025 (million Ringgit) | 2024 (million Ringgit) | Change | | :--- | :--- | :--- | :--- | | Finance costs | 0.6 | 1.0 | Decrease 0.4 million Ringgit | - The decrease was mainly due to reduced interest on bank loans resulting from lower bank loan balances, and decreased estimated interest on contract assets[67](index=67&type=chunk) [Income Tax Expense](index=28&type=section&id=Income%20Tax%20Expense) Income tax expense for FY2025 increased to 1.7 million Ringgit, primarily due to higher taxable profits from Singaporean and Malaysian subsidiaries Income Tax Expense | Indicator | 2025 (million Ringgit) | 2024 (million Ringgit) | Change | | :--- | :--- | :--- | :--- | | Income tax expense | 1.7 | 0.8 | Increase 0.9 million Ringgit | - The increase was mainly due to higher taxable profits from a Singaporean subsidiary and a Malaysian subsidiary for the year ended June 30, 2025, compared to the year ended June 30, 2024[68](index=68&type=chunk) [Profit for the Year Attributable to Owners of the Company](index=29&type=section&id=Profit%20for%20the%20Year%20Attributable%20to%20Owners%20of%20the%20Company) In FY2025, profit attributable to owners of the Company decreased to 1.3 million Ringgit, a significant reduction from 3.0 million Ringgit in 2024, primarily due to the combined impact of the aforementioned financial factors Profit for the Year Attributable to Owners of the Company | Indicator | 2025 (million Ringgit) | 2024 (million Ringgit) | Change | | :--- | :--- | :--- | :--- | | Profit for the year attributable to owners of the Company | 1.3 | 3.0 | Decrease 1.7 million Ringgit | [Final Dividend](index=29&type=section&id=Final%20Dividend) Given the FY2025 financial results, anticipated working capital requirements, and current and future business conditions and strategies, the Board does not recommend the declaration of any final dividend, consistent with 2024 - The Board does not recommend the declaration of any final dividend for the year ended June 30, 2025 (2024: nil)[70](index=70&type=chunk) [Corporate Finance and Risk Management](index=29&type=section&id=Corporate%20Finance%20and%20Risk%20Management) The Group funds its working capital through cash generated from operations, shareholders' equity, and bank financing, maintaining a sound liquidity position. The current ratio slightly decreased, while the gearing ratio declined due to reduced total bank borrowings and lease liabilities. The Group faces credit risk, interest rate risk, and foreign exchange risk, with corresponding management policies in place - The Group funds its working capital requirements through cash generated from operations, shareholders' equity, and bank financing[71](index=71&type=chunk) - The current ratio decreased from approximately **1.7 times** in 2024 to approximately **1.6 times** in 2025, primarily due to a significant increase in contract liabilities[73](index=73&type=chunk) - The gearing ratio decreased from approximately **8.2%** in 2024 to approximately **5.4%** in 2025, mainly due to a reduction in total bank borrowings and lease liabilities[73](index=73&type=chunk) [Liquidity and Financial Resources/Capital Structure](index=29&type=section&id=Liquidity%20and%20Financial%20Resources%2FCapital%20Structure) As of June 30, 2025, the Group's cash and cash equivalents decreased to 71.5 million Ringgit, while pledged bank deposits and fixed deposits increased. The current ratio slightly decreased to 1.6 times, and the gearing ratio declined to 5.4%, indicating reduced leverage. The Group's capital structure remained sound with no significant changes Liquidity Position | Item | 2025 (million Ringgit) | 2024 (million Ringgit) | | :--- | :--- | :--- | | Cash and cash equivalents | 71.5 | 94.1 | | Pledged bank deposits | 9.2 | 8.1 | | Fixed deposits with maturity over three months | 5.7 | – | | Lease liabilities | 0.7 | 0.7 | | Bank borrowings | 6.4 | 10.5 | | Unutilized bank facilities | 122.0 | 47.0 | Liquidity and Gearing Ratios | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Current ratio | 1.6 times | 1.7 times | | Gearing ratio | 5.4% | 8.2% | - There were no significant changes in the Group's capital structure for the year ended June 30, 2025[74](index=74&type=chunk) [Capital Commitments](index=30&type=section&id=Capital%20Commitments) As of June 30, 2025, the Group had capital commitments of approximately 81 thousand Ringgit, consistent with 2024, primarily for equipment Capital Commitments | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Equipment | 81 | 81 | [Pledge of Assets](index=30&type=section&id=Pledge%20of%20Assets) As of June 30, 2025, the Group had pledged bank deposits of approximately 9.2 million Ringgit, deposits paid for the acquisition of investment properties of approximately 12.9 million Ringgit, and assets classified as held for sale of approximately 1.5 million Ringgit, as collateral and guarantees for bank financing. The Group is arranging performance bonds for new contracts - Pledged bank deposits of approximately **9.2 million Ringgit** were pledged to banks as security for bank facilities of approximately **6.8 million Ringgit**[76](index=76&type=chunk) - Deposits paid for the acquisition of investment properties of approximately **12.9 million Ringgit** and assets classified as held for sale of approximately **1.5 million Ringgit** were pledged to banks as security for bank facilities[76](index=76&type=chunk) - The Group is arranging performance bonds related to new contracts awarded in 2024, with additional retention receivables as an alternative[77](index=77&type=chunk) [Risk Management](index=31&type=section&id=Risk%20Management) The Group faces credit risk, interest rate risk, and foreign exchange risk. Credit risk primarily arises from trade and other receivables, managed through credit assessments and a provision matrix. Interest rate risk mainly stems from floating-rate bank borrowings. Foreign exchange risk arises from foreign currency transactions, which management closely monitors and considers hedging - The Group's credit risk primarily arises from trade and other receivables, contract assets, fixed deposits, pledged bank deposits, and bank balances[78](index=78&type=chunk) - As of June 30, 2025, approximately **49%** of the total trade receivables and contract assets were from the Group's largest customer, and approximately **99%** were from the top five customers[79](index=79&type=chunk) - The Group's interest rate risk primarily arises from bank balances and bank borrowings bearing interest at floating rates, mainly concentrated on fluctuations in the Malaysian Base Lending Rate[84](index=84&type=chunk) - The Group undertakes certain transactions denominated in foreign currencies and is thus exposed to exchange rate fluctuation risk; currently, there is no foreign currency hedging policy, but management closely monitors this risk[85](index=85&type=chunk) [Significant Investments and Future Plans](index=33&type=section&id=Significant%20Investments%20and%20Future%20Plans) For the year ended June 30, 2025, the Group held no significant investments other than those disclosed, nor did it have other significant investment and capital asset plans - For the year ended June 30, 2025, the Group held no significant investments[86](index=86&type=chunk) - As of June 30, 2025, the Group had no other significant investment and capital asset plans[87](index=87&type=chunk) - For the year ended June 30, 2025, the Group had no significant acquisitions and disposals of subsidiaries, associates, or joint ventures (other than those disclosed in this announcement)[88](index=88&type=chunk) [Events After Reporting Period](index=33&type=section&id=Events%20After%20Reporting%20Period) No other significant events affecting the Group have occurred from June 30, 2025, up to the date of this announcement - No other significant events affecting the Group have occurred from June 30, 2025, up to the date of this announcement[89](index=89&type=chunk) [Employees and Remuneration Policy](index=34&type=section&id=Employees%20and%20Remuneration%20Policy) The Group's total number of full-time employees increased from 64 in 2024 to 68 in 2025 to expand business activities. Employee remuneration is determined with reference to market rates and individual performance, encouraging professional development. Directors' remuneration is recommended by the Remuneration Committee, considering various relevant factors, and independent non-executive directors do not receive performance-related equity-based remuneration - The Group's total number of full-time employees increased from **64** as of June 30, 2024, to **68** as of June 30, 2025[90](index=90&type=chunk) - Employee remuneration is determined with reference to market rates and individual qualifications, experience, skills, performance, and contribution[90](index=90&type=chunk) - Independent non-executive directors are not granted equity-based remuneration with performance-related elements to ensure their objective judgment and independence[90](index=90&type=chunk) [Prospects](index=34&type=section&id=Prospects) The Group is optimistic about the construction industry in Malaysia and Singapore, anticipating favorable development prospects from foreign investment inflows into the Johor-Singapore Special Economic Zone, Johor Bahru-Singapore Rapid Transit System Link project, and data center sector. The Group will continue to focus on executing existing contracts, actively participate in tenders, and optimize its business model. Additionally, the Group has been shortlisted as a tenderer for a large-scale solar photovoltaic power plant development project in Malaysia - The Group is optimistic about the construction industry in Malaysia and Singapore, anticipating favorable development prospects from foreign investment inflows into the Johor-Singapore Special Economic Zone, Johor Bahru-Singapore Rapid Transit System Link project, and data center sector[93](index=93&type=chunk) - A consortium comprising the Company's wholly-owned subsidiary JBB Builders (M) Sdn. Bhd. and Samaiden Sdn. Bhd. has been shortlisted as a tenderer for the development of a large-scale solar photovoltaic power plant (99.99 MW) in Segamat, Johor, Malaysia[94](index=94&type=chunk) - The Group will continue to optimize its business model and portfolio, actively participate in various tenders (especially in the marine construction services sector), strengthen its market competitiveness, and focus on executing existing construction engineering contracts[95](index=95&type=chunk) [Use of Proceeds](index=36&type=section&id=Use%20of%20Proceeds) The net proceeds from the Company's global offering amounted to approximately 62.6 million Ringgit. As of June 30, 2025, 51.4 million Ringgit had been utilized, primarily for funding and capital requirements of new contracts, meeting performance bond requirements, expanding the team, and upgrading IT systems. Approximately 11.2 million Ringgit remains unutilized, expected to be fully utilized by June 2028 Details of Use of Net Proceeds | Purpose | Original allocation (million Ringgit) | Revised allocation (million Ringgit) | Utilized (million Ringgit) | Unutilized (million Ringgit) | Expected timeline | | :--- | :--- | :--- | :--- | :--- | :--- | | Acquisition of a converted sand carrier from an existing marine transportation service sub-contractor | 36.2 | – | – | – | Not applicable | | Acquisition of new land-based machinery | 4.6 | – | – | – | Not applicable | | To satisfy performance bond requirements for future projects | 14.7 | 14.7 | (4.0) | 10.7 | By June 2028 | | Upgrading of information technology and project management systems | 0.4 | 0.4 | (0.3) | 0.1 | By June 2028 | | Recruitment and expansion of building and infrastructure engineering management team | 2.1 | 2.1 | (1.7) | 0.4 | By June 2028 | | Working capital and general corporate purposes | 4.6 | 4.6 | (4.6) | – | Not applicable | | Funding and capital requirements for new contracts | – | 40.8 | (40.8) | – | By June 2028 | | **Total** | **62.6** | **62.6** | **(51.4)** | **11.2** | | - Approximately **11.2 million Ringgit** (representing approximately **17.9%** of the net proceeds from the Global Offering) remains unutilized, expected to be fully utilized by June 2028[96](index=96&type=chunk)[99](index=99&type=chunk) - On February 23, 2024, the Board resolved to reallocate part of the unutilized net proceeds, approximately **40.8 million Ringgit**, to fund and capital requirements for new contracts awarded to the Group[99](index=99&type=chunk) [Other Information](index=37&type=section&id=Other%20Information) [Closure of Register of Members](index=37&type=section&id=Closure%20of%20Register%20of%20Members) To determine eligibility for attending and voting at the Annual General Meeting, the Company's share transfer registration will be suspended from November 13 to November 18, 2025. Shareholders must submit all share transfer documents by 4:30 p.m. on November 12, 2025 - The register of members will be closed from **November 13 to November 18, 2025** (both dates inclusive)[97](index=97&type=chunk) - To be eligible to attend and vote at the Annual General Meeting, shareholders should ensure all share transfer documents are lodged by **4:30 p.m. on November 12, 2025**[97](index=97&type=chunk) [Compliance with Corporate Governance Code](index=37&type=section&id=Compliance%20with%20Corporate%20Governance%20Code) For the year ended June 30, 2025, and up to the date of this announcement, the Board believes the Company has adopted and complied with all applicable code provisions of the Corporate Governance Code set out in Appendix C1 to the Listing Rules - The Company has adopted and complied with all applicable code provisions of the Corporate Governance Code set out in Appendix C1 to the Listing Rules[98](index=98&type=chunk) [Standard Code for Securities Transactions by Directors](index=38&type=section&id=Standard%20Code%20for%20Securities%20Transactions%20by%20Directors) The Company has adopted the Standard Code for Securities Transactions by Directors of Listed Issuers, as set out in Appendix C3 to the Listing Rules, as its code of conduct for directors' securities transactions. Following enquiry, all directors confirmed compliance with the Standard Code throughout the reporting period and up to the date of this announcement - The Company has adopted the Standard Code for Securities Transactions by Directors of Listed Issuers set out in Appendix C3 to the Listing Rules[100](index=100&type=chunk) - All directors confirmed that they have complied with the required standards set out in the Standard Code for the year ended June 30, 2025, and up to the date of this announcement[100](index=100&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=38&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) For the year ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - For the year ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[101](index=101&type=chunk) [Audit Committee](index=38&type=section&id=Audit%20Committee) The Company's Audit Committee, established on April 11, 2019, comprises three independent non-executive directors with Mr. Tai Lam Shin as Chairman. The Committee has reviewed the Group's adopted accounting principles and policies, financial reporting matters such as annual results, and the audited consolidated financial statements for FY2025 - The Audit Committee comprises three independent non-executive directors: Mr. Tai Lam Shin (Chairman), Mr. Chan Chun Choi, and Ms. Chan Pui Kwan[102](index=102&type=chunk) - The Committee has reviewed the Group's adopted accounting principles and policies, financial reporting matters such as annual results, and the audited consolidated financial statements for FY2025[102](index=102&type=chunk) [Scope of Work of Independent Auditor](index=38&type=section&id=Scope%20of%20Work%20of%20Independent%20Auditor) The Group's external auditor, Crowe Malaysia PLT, confirmed that the financial figures in the preliminary results announcement are consistent with the audited consolidated financial statements. The work performed by the auditor does not constitute an assurance engagement under International Standards on Auditing, and therefore no assurance has been issued on the preliminary results announcement - The external auditor, Crowe Malaysia PLT, agreed that the financial figures in the preliminary results announcement are consistent with those contained in the audited consolidated financial statements[103](index=103&type=chunk) - The work performed by the auditor does not constitute an assurance engagement under International Standards on Auditing, and therefore no assurance has been issued on the preliminary results announcement[103](index=103&type=chunk) [Publication of Annual Results](index=39&type=section&id=Publication%20of%20Annual%20Results) This announcement has been published on the Stock Exchange website and the Company's website. The FY2025 annual report, containing all information required by the Listing Rules, will be published on the aforementioned websites and dispatched to shareholders in due course - This announcement has been published on the Stock Exchange website (www.hkexnews.hk) and the Company's website (www.jbb.com.my)[104](index=104&type=chunk) - The Company's annual report for the year ended June 30, 2025, containing all information required by the Listing Rules, will be published on the aforementioned websites and dispatched to the Company's shareholders in due course[104](index=104&type=chunk) [Acknowledgements and Board of Directors](index=39&type=section&id=Acknowledgements%20and%20Board%20of%20Directors) The Board expresses gratitude for the support and contributions of shareholders, business partners, clients, management, and staff. As of the announcement date, the Board of Directors includes Executive Directors Dato' Wong Sze Chian (Chairman), Mr. Lam Hong Yin, Mr. Wong Choong Boon; Non-executive Director Datin Ngooi Leng Swee; and Independent Non-executive Directors Mr. Tai Lam Shin, Mr. Chan Chun Choi, and Ms. Chan Pui Kwan - The Board extends its gratitude to the Company's shareholders, the Group's business partners, and clients for their continued support, guidance, and contributions, and sincerely thanks management and staff for their hard work and dedication[105](index=105&type=chunk) - The Board of Directors comprises Executive Directors Dato' Wong Sze Chian (Chairman), Mr. Lam Hong Yin, Mr. Wong Choong Boon; Non-executive Director Datin Ngooi Leng Swee; and Independent Non-executive Directors Mr. Tai Lam Shin, Mr. Chan Chun Choi, and Ms. Chan Pui Kwan[107](index=107&type=chunk)

Group 1 - The board meeting of JBB BUILDERS (01903.HK) is scheduled for September 23, 2025, to consider the annual performance for the year ending June 30, 2025 [1] - The meeting will also discuss the potential declaration of a final dividend, if applicable [1]

Group 1 - The company JBB BUILDERS (01903) expects to achieve a profit attributable to owners of approximately 1.3 million ringgit for the fiscal year ending June 30, 2025, compared to a profit of about 3 million ringgit for the fiscal year ending June 30, 2024 [1] - The anticipated performance for the fiscal year ending June 30, 2025, has shifted from expected losses to expected profits, primarily due to a reduction in the impairment loss provisions for trade receivables and contract assets by approximately 8.6 million ringgit, based on the latest expected loss rates from an independent valuer [1] - The impairment loss provisions for trade receivables and contract assets to be recognized for the fiscal year ending June 30, 2025, will be significantly lower than previously anticipated [1]

格隆汇9月8日丨JBB BUILDERS(01903.HK)发布公告，集团预期截至2025年6月30日止年度将录得公司 拥有人应占溢利约130万林吉特，而截至2024年6月30日止年度集团则录得公司拥有人应占溢利约300万 林吉特。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 JBB Builders International Limited（「本公司」）董事會（「董事會」）宣佈，董事會會議將於二 零二五年九月二十三日（星期二）舉行，並將於會上（其中包括）考慮及酌情批准本公司及 其附屬公司截至二零二五年六月三十日止年度之全年業績及其發佈，以及考慮建議派發 末期股息（如有）。 承董事會命 JBB Builders International Limited 主席及執行董事 JBB BUILDERS INTERNATIONAL LIMITED （ 於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ） （股份編號：1903） 董事會召開日期 拿督黃世標 香港，二零二五年九月八日 於本公告日期，董事會包括執行董事拿督黃世標、藍弘恩先生及黃種文先生；非執行董 事拿汀Ngooi Leng Swee；獨立非執行董事Tai Lam Shin先生、陳進財先生及陳佩君女士。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 JBB BUILDERS INTERNATIONAL LIMITED （ 於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ） （股份編號：1903） 本公告乃由JBB Builders International Limited（「本公司」，連同其附屬公司統稱「本集團」） 根據香港聯合交易所有限公司的證券上市規則（「上市規則」）第13.09條以及證券及期貨條 例（香港法例第571章）第XIVA部項下內幕消息條文（定義見上市規則）而作出。 由於本公司仍在落實本集團截至二零二五年六月三十日止年度之年度業績，本公告所載 資料僅以本公司管理層對本集團之未經審核綜合管理賬目之評估及現有可得資料為依據， 惟該等資料未經本公司審核委員會審閱或本公司核數師審核，且可因進一步審閱而予以 變動及調整。本公司截至二零二五年六月三十日止年度之年度業績預期於二零二五年九 月底前刊發。 本公告應與該公告一併閱讀。除上文所述 ...