智通财经APP讯，JBB BUILDERS(01903)公布截至2023年12月31日止6个月中期业绩，收益约1.26亿林吉特，同比增长6.25%;公司拥有人应占亏损301.7万林吉特，去年同期应占溢利349.1万林吉特;每股基本及摊薄亏损0.6林吉特仙。 公告称，收益轻微增加主要是由于新加坡海上运输工程的运砂量增加;期内获得的新合约所产生的工程量有所增加，惟部分被船用油需求减少;及完成若干合约，为截至2022年12月31日止六个月贡献部分收益所抵销。 ...

Revenue and Profitability - Revenue for the six months ended December 31, 2023, was 126,305 thousand Ringgit, an increase of 7,433 thousand Ringgit or 6.3% compared to 118,872 thousand Ringgit for the same period in 2022[25] - The company reported a loss attributable to owners of the company of 3,017 thousand Ringgit, compared to a profit of 3,491 thousand Ringgit in the same period last year, a decrease of 6,508 thousand Ringgit[25] - Basic and diluted loss per share was (0.60) cents, compared to earnings of 0.70 cents per share in the prior year, a decline of 1.30 cents[25] - The total comprehensive loss for the period was MYR 3,752,000, compared to a comprehensive income of MYR 4,701,000 in the prior year[39] - The company achieved a profit before tax of 4,731 thousand ringgit for the six months ended December 31, 2023, compared to a loss of 2,486 thousand ringgit in the previous period[79] Expenses and Costs - Gross profit decreased to 2,518 thousand Ringgit, resulting in a gross margin of 2.0%, down from 7.6% in the previous year, a decline of 5.6 percentage points[25] - The direct costs for the same period were MYR 123,787,000, compared to MYR 109,869,000, resulting in an operating loss of MYR 1,936,000, down from an operating profit of MYR 5,453,000 in the previous year[38] - General and administrative expenses decreased to (6,717) thousand Ringgit from (7,894) thousand Ringgit in the previous year[27] - The company’s depreciation expenses amounted to 123 thousand ringgit, reflecting a slight increase from the previous period[81] - The company reported a net financial cost of 617 thousand ringgit for the period, compared to 634 thousand ringgit in the previous year[81] Assets and Liabilities - The total assets less current liabilities amounted to MYR 138,279,000 as of December 31, 2023, down from MYR 143,878,000 as of June 30, 2023[38] - The net current assets were reported at MYR 89,669,000, an increase from MYR 82,950,000 in the previous period[38] - The company’s total liabilities decreased to MYR 8,412,000 in bank loans and MYR 255,000 in lease liabilities as of December 31, 2023, compared to MYR 10,412,000 and MYR 138,000 respectively as of June 30, 2023[38] - The equity attributable to the owners of the company was MYR 121,997,000, a decrease from MYR 125,526,000 in the previous period[38] Income and Other Revenue - Other income for the period was 3,016 thousand Ringgit, an increase from 1,373 thousand Ringgit in the previous year[27] - The company generated other income of 3,016 thousand ringgit, significantly up from 1,373 thousand ringgit in the prior year, indicating a growth of approximately 119%[83] - The company’s interest income from financial assets measured at amortized cost increased to 1,374 thousand ringgit from 852 thousand ringgit year-over-year, representing a growth of approximately 61.5%[83] Trade Receivables and Contract Assets - As of December 31, 2023, trade receivables amounted to 98,039,000 MYR, with an allowance for doubtful accounts of 14,595,000 MYR[124] - Approximately 71% of the total trade receivables and contract assets as of December 31, 2023, came from the group's largest customer, up from 50% as of June 30, 2023[135] - The company reported that all trade receivables are expected to be collected within one year[179] - The company’s contract assets as of December 31, 2023, totaled approximately 10.580 million Ringgit, a decrease from 13.474 million Ringgit as of June 30, 2023[198] Business Operations and Strategy - The company is primarily engaged in offshore construction services, building and infrastructure services, and marine fuel trading, indicating a focus on these sectors for future growth[49] - The group will continue to monitor uncertainties and market developments to seize business opportunities in operating countries while optimizing its business model and actively participating in various tenders[147] - The group plans to implement appropriate business strategies to mitigate potential adverse impacts on operations, ensuring returns for shareholders[147] - The board believes that the current economic environment is not suitable for capital investments such as acquiring a modified transport vessel and purchasing new land-based machinery[156] Contracts and Future Prospects - The group has secured new contracts, including a modern 5-story courthouse complex in Johor with a total contract value of approximately 512.4 million Malaysian Ringgit, expected to enhance revenue and profitability[146] - The company has recently secured contracts worth approximately 145.9 million Ringgit for building and infrastructure projects and 366.5 million Ringgit for land reclamation and related engineering and marine transportation contracts, with work expected to commence in March 2024[168] - The board has decided to reallocate approximately 40.8 million Ringgit of unutilized net proceeds originally intended for the acquisition of a modified sand transport vessel and new land-based machinery to better align with the funding needs of the recently awarded contracts[169] Financial Governance and Compliance - The company has adopted and complied with all applicable provisions of the corporate governance code as of December 31, 2023[170] - The company’s financial strength is crucial for maintaining its competitive edge, as potential clients often assess the company's financial status when evaluating its ability to execute and complete contracts[169]

Financial Performance - The group's revenue for the year ended June 30, 2023, was approximately MYR 217.8 million, a decrease of about MYR 294.5 million or 57.5% compared to MYR 512.3 million for the year ended June 30, 2022[11]. - The group recorded a loss attributable to owners of the company of approximately MYR 8.2 million for the year ended June 30, 2023, compared to a profit of approximately MYR 12.5 million for the year ended June 30, 2022[11]. - Revenue decreased by approximately 294.5 million Ringgit or 57.5% from about 512.3 million Ringgit for the year ended June 30, 2022, to about 217.8 million Ringgit for the year ended June 30, 2023[19]. - Revenue from offshore construction services accounted for approximately 84.3% of total revenue, decreasing by about 277.8 million Ringgit or 60.2% from approximately 461.4 million Ringgit to about 183.6 million Ringgit[20]. - Revenue from land reclamation and related works accounted for about 5.5% of total offshore construction services revenue, decreasing by approximately 39.5 million Ringgit or 79.8% from about 49.5 million Ringgit to about 10.0 million Ringgit[20]. - Revenue from marine transportation accounted for approximately 94.5% of total offshore construction services revenue, decreasing by about 238.3 million Ringgit or 57.9% from approximately 411.9 million Ringgit to about 173.6 million Ringgit[21]. - Revenue from building and infrastructure services increased by approximately 9.2 million Ringgit or 122.7% from about 7.5 million Ringgit to about 16.7 million Ringgit, accounting for about 7.7% of total revenue[22]. - Revenue from the marine fuel trading business decreased by approximately 25.9 million Ringgit or 59.7% from about 43.4 million Ringgit to about 17.5 million Ringgit, accounting for about 8.0% of total revenue[25]. - Gross profit decreased by approximately 16.9 million Ringgit or 57.9% from about 29.2 million Ringgit to about 12.3 million Ringgit, with a slight decrease in gross profit margin from about 5.7% to about 5.6%[26]. - Other income increased from about 1.2 million Ringgit to about 3.3 million Ringgit, mainly due to increased interest income from bank deposits[27]. Contracts and Projects - The group completed a total of 7 offshore construction contracts during the year, with original contract amounts totaling approximately MYR 52.2 million for 5 reclamation and related works contracts and MYR 80.0 million for 1 building and infrastructure contract[16]. - As of June 30, 2023, the group had 4 ongoing offshore construction contracts with an original contract total of approximately MYR 947.4 million and 4 ongoing building and infrastructure contracts totaling approximately MYR 201.6 million[16]. - The group is currently negotiating with a client regarding a terminated offshore construction contract originally valued at approximately MYR 323.9 million, with plans to commence new work in 2024[16]. - The total expected contract amount for submitted tenders as of June 30, 2023, is approximately 2,483.6 million Ringgit, with 5 tenders and 2 quotations submitted[17]. Market Conditions and Challenges - The group anticipates that recent announcements of large projects by the Malaysian government will act as a catalyst for market improvement[12]. - The group is facing challenges such as intense industry competition, inflationary pressures, and labor shortages, which may impact profitability[12]. - The group maintains a conservative outlook on recent business and financial performance due to industry competition and inflationary pressures[62]. - The overall performance of the company is influenced by the economic conditions of the markets in which it operates, as the construction industry is cyclical[108]. Governance and Compliance - The group is committed to adhering to high standards of corporate governance as outlined by the Hong Kong Stock Exchange[12]. - The group has adopted internal controls to ensure compliance with relevant laws and regulations, with no significant violations reported for the year ending June 30, 2023[115]. - The leadership team is committed to maintaining high standards of corporate governance and financial oversight[86]. Financial Position and Liquidity - As of June 30, 2023, the group had cash and cash equivalents of approximately 77.5 million MYR, down from 85.9 million MYR, primarily due to net cash outflows from operating and financing activities[37]. - The current ratio increased from approximately 1.9 times to about 2.1 times, mainly due to improved collection of trade receivables[38]. - The debt-to-equity ratio increased from approximately 10.2% to about 10.9%, attributed to an increase in total bank loans and lease liabilities from about 14.2 million MYR to approximately 14.6 million MYR[38]. - The group had unutilized bank financing of approximately 47.0 million MYR as of June 30, 2023, down from 50.7 million MYR[38]. - The group believes its liquidity position remains strong, supported by cash and cash equivalents, available bank financing, and strict cost control measures[62]. Employee and Management - The group has 55 employees as of June 30, 2023, a decrease from 57 in 2022, highlighting the importance of employee retention for future success[117]. - The company has a diversified management team with extensive experience in the construction and engineering sectors[95]. - The company emphasizes the importance of a safe and healthy work environment for employees and subcontractors[119]. - The company is focused on maintaining a strong relationship with employees, recognizing them as key assets for business growth[117]. Shareholder Matters - The board did not recommend any final dividend for the year ended June 30, 2023, consistent with the previous year[36]. - The company has approximately 130.5 million Ringgit available for distribution to shareholders as of June 30, 2023[152]. - The board will consider various factors, including financial performance and operational needs, when proposing any future dividends[123]. 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[53]. - The group currently has no foreign exchange hedging policy but monitors foreign exchange risks closely[54]. - The company faces risks related to the approval timelines for offshore construction projects, which can impact project commencement and profitability[103]. Corporate Social Responsibility - The group made charitable donations totaling approximately 1.5 million Ringgit for the year ending June 30, 2023, compared to 1.1 million Ringgit in 2022[156]. - The group is committed to environmental compliance and has implemented measures such as sediment curtains and water quality monitoring[113]. - The group faces potential adverse impacts from climate change, including increased operational costs and risks to project timelines due to extreme weather events[110].

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） 截至二零二三年六月三十日止年度之年度業績公告 業績摘要 截至六月三十日止年度 二零二三年 二零二二年 （減少） 千林吉特 千林吉特 千林吉特 收益 217,776 512,303 (294,527) 毛利 12,285 29,159 (16,874) 毛利率 5.6% 5.7% (0.1%) ...

Revenue Performance - Revenue decreased by approximately 134.6 million MYR or 53.1% to about 118.9 million MYR for the six months ended December 31, 2022, compared to approximately 253.5 million MYR for the same period in 2021[16]. - Revenue from marine construction services accounted for approximately 81.8% of total revenue, decreasing by about 137.0 million MYR or 58.5% to approximately 97.3 million MYR[17]. - Revenue from marine transportation represented about 92.1% of marine construction services revenue, dropping by approximately 142.2 million MYR or 61.3% to about 89.6 million MYR[18]. - Revenue from building and infrastructure services increased by approximately 6.4 million MYR or 142.2% to about 10.9 million MYR, compared to approximately 4.5 million MYR for the same period in 2021[18]. - Revenue from the sale of marine fuel accounted for about 9.0% of total revenue, decreasing by approximately 4.0 million MYR or 27.2% to about 10.7 million MYR[20]. - The decrease in revenue was primarily due to a significant reduction in sand transportation volume from Singapore marine transportation contracts[16]. - The revenue from reclamation and related works increased by approximately 5.2 million MYR or 208.0% to about 7.7 million MYR for the six months ended December 31, 2022[39]. - The group reported revenue from external customers of 253,541 thousand for the six months ended December 31, 2022, compared to 231,794 thousand in the previous year, representing an increase of approximately 9.3%[190]. - The group’s total revenue for the six months ended December 31, 2022, was 253,541 thousand, compared to 231,794 thousand in the same period last year, marking an overall increase of about 9.3%[190]. Profitability - Gross profit decreased by approximately 1.6 million MYR or 15.1% to about 9.0 million MYR for the six months ended December 31, 2022, compared to approximately 10.6 million MYR for the same period in 2021[21]. - Gross margin increased from approximately 4.2% for the six months ended December 31, 2021, to about 7.6% for the same period in 2022[21]. - The company reported a profit attributable to owners of approximately 3.5 million MYR for the six months ended December 31, 2022, up from about 0.4 million MYR for the same period in 2021[48]. - Operating profit for the period was RM 5,453,000, significantly up from RM 1,661,000 in the previous year, indicating a year-over-year increase of approximately 228.5%[163]. - Profit before tax rose to RM 4,731,000, compared to RM 1,294,000 in the prior year, reflecting an increase of about 265.5%[163]. - Net profit for the period was RM 3,622,000, a turnaround from a loss of RM 186,000 in the same period last year[163]. - The company reported a total comprehensive income of RM 4,701,000 for the period, compared to a loss of RM 114,000 in the previous year[163]. - The total segment profit for the offshore construction services was 5,705 thousand, compared to a loss in the previous period, indicating improved operational efficiency[190]. Expenses and Costs - General and administrative expenses increased by approximately 2.5 million MYR or 46.3% to about 7.9 million MYR for the six months ended December 31, 2022[46]. - Financial costs increased from approximately 0.3 million MYR to about 0.6 million MYR, primarily due to rising interest rates[47]. - Other income net amount increased from approximately 0.5 million MYR to about 1.4 million MYR, mainly due to increased interest income from bank deposits[42]. - Other income increased to RM 1,373,000 from RM 514,000, showing a growth of approximately 167.5%[163]. Financial Position - The group had unutilized bank financing of approximately 47.0 million MYR as of December 31, 2022[29]. - As of December 31, 2022, the group had cash and cash equivalents of approximately 84.5 million Ringgit, a decrease from 85.9 million Ringgit as of June 30, 2022[49]. - The current ratio increased from approximately 1.9 times on June 30, 2022, to about 2.4 times on December 31, 2022, primarily due to a reduction in trade receivables and contract assets[74]. - The total amount of bank loans and lease liabilities increased from approximately 14.2 million Ringgit on June 30, 2022, to about 16.5 million Ringgit on December 31, 2022[74]. - The asset-to-liability ratio increased from approximately 10.2% on June 30, 2022, to about 11.6% on December 31, 2022[74]. - The company’s total assets amounted to 159,430 thousand MYR, a decrease from 272,899 thousand MYR as of June 30, 2021[143]. - The total liabilities decreased to 12,475 thousand MYR as of December 31, 2022, from 10,559 thousand MYR as of June 30, 2021[143]. - The company’s non-current assets were valued at 60,877 thousand MYR as of December 31, 2022, compared to 21,895 thousand MYR as of June 30, 2021[143]. - The group’s total reserves as of December 31, 2022, were approximately RM 131,869,000, up from RM 111,889,000 a year earlier[167]. Risks and Challenges - The group faces cash flow interest rate risk primarily from bank cash and loans, with exposure concentrated on fluctuations in the Malaysian base lending rate[61]. - The group has not implemented a foreign exchange hedging policy but closely monitors foreign exchange risks[62]. - The group remains cautious about future business and financial performance due to competitive pressures and recent government changes in Malaysia[67]. - Inflationary pressures and rising interest rates are increasing the cost of capital, impacting the group's profitability[68]. - The group has faced operational, credit, and liquidity risks due to the COVID-19 pandemic, impacting financial performance[93]. Future Outlook and Plans - Management plans to optimize the business model and actively participate in various tenders to strengthen market competitiveness[95]. - The company anticipates that a project related to land reclamation and marine transportation will commence in Q2 2023, benefiting future business operations[118]. - The company is committed to strict cost control measures and capital commitments to maintain a robust liquidity position[118]. - The company aims to minimize unnecessary costs associated with expansion plans by cautiously utilizing remaining net proceeds based on future market developments[122]. Shareholder Information - JBB Builders International Limited holds approximately 36.36% of its issued share capital through JBB Jade Investment Limited, which is fully owned by the executive director[110]. - The company maintained a public float of at least 25% of its issued shares as required by listing rules[160]. Employee Information - As of December 31, 2022, the group had approximately 55 full-time employees[91].

Financial Performance - For the fiscal year ending June 30, 2022, the company recorded a profit attributable to owners of approximately MYR 12.5 million, a significant improvement compared to the previous year's loss[12]. - Revenue increased by approximately 371.3 million MYR or 263.3% from about 141.0 million MYR for the year ended June 30, 2021, to about 512.3 million MYR for the year ended June 30, 2022[35]. - The company recorded a profit attributable to owners of approximately 12.5 million MYR for the year ended June 30, 2022, compared to a loss of about 9.4 million MYR in the previous year[48]. - Gross profit increased by approximately 22.5 million MYR or 335.8% to about 29.2 million MYR for the year ended June 30, 2022, with an overall gross profit margin rising from approximately 4.7% to about 5.7%[40]. - Other income for the year ended June 30, 2022, was approximately 0.4 million MYR, including a gain of about 1.6 million MYR from the disposal of deposits for investment properties[42]. Revenue Sources - The company's revenue from offshore transportation services expanded over threefold compared to the fiscal year ending June 30, 2021, contributing to the overall financial performance[12]. - Revenue from offshore construction services accounted for approximately 90.1% of total revenue, increasing by about 361.6 million MYR or 362.3% to approximately 461.4 million MYR for the year ended June 30, 2022[36]. - Revenue from marine transportation accounted for approximately 89.3% of total revenue from offshore construction services, increasing by about 314.3 million MYR or 322.0% to approximately 411.9 million MYR for the year ended June 30, 2022[36]. - Revenue from reclamation and related works increased by approximately 47.3 million MYR or 2,150.0% to approximately 49.5 million MYR for the year ended June 30, 2022[36]. - Revenue from the marine fuel trading business generated approximately 43.4 million MYR, accounting for about 8.5% of total revenue for the year ended June 30, 2022[39]. Challenges and Risks - The company is facing challenges due to rising diesel prices, labor shortages, and increased minimum wages, which are putting pressure on profitability[13]. - The company expresses a cautious outlook on its recent business and financial performance due to the competitive landscape in the construction and marine fuel sectors[13]. - The group faced significant risks related to the ability to secure new contracts after existing ones are completed, impacting future business performance[119]. - The profitability of the group may be adversely affected by delays or changes in large contracts, which can lead to unexpected increases in project costs[120]. - The COVID-19 pandemic has created uncertainty in future market conditions, potentially affecting revenue and profitability[125]. Corporate Governance and Compliance - The company is committed to enhancing its corporate governance policies in response to ongoing reviews by the Hong Kong Stock Exchange, aiming for transparency and accountability[13]. - The company emphasizes a risk culture and effective communication to enhance corporate governance and performance[27]. - The board believes that the company has complied with all applicable corporate governance codes as of June 30, 2022[142]. - The company must comply with relevant laws and regulations in the Cayman Islands and Hong Kong regarding dividend payments[139]. - The board has confirmed that all directors have adhered to the standard code of conduct for securities transactions during the reporting period[143]. Employee Development and Workforce - The company emphasizes employee development through performance evaluations and training, viewing employees as valuable assets[19]. - The group had approximately 57 full-time employees as of June 30, 2022, an increase from 51 in the previous year, reflecting adjustments based on contract workload and strict cost control policies[78]. - The group is committed to providing a safe and healthy work environment for employees and subcontractors, promoting collaboration and diversity[133]. - The executive and non-executive directors are entitled to bonuses based on their performance and the group's performance for the relevant financial year[184]. - The company has adopted a share option scheme to incentivize employees and contributors, allowing for the granting of options to eligible participants[147]. Future Outlook and Strategy - The company aims to optimize its business model and actively participate in various tenders to strengthen its market competitiveness and achieve growth[13]. - The group expects gradual recovery in business as the Malaysian government implements reopening policies, although it remains cautious due to ongoing market uncertainties and competition[79]. - The group believes that upcoming projects, including those delayed due to the pandemic, will positively impact future business performance[82]. - The company anticipates utilizing the remaining funds by June 30, 2024, depending on market and economic conditions[86]. - The company is adjusting the allocation of net proceeds according to the prospectus due to discrepancies between estimated and actual net proceeds received[86]. Financial Position and Liabilities - As of June 30, 2022, the company had cash and cash equivalents of approximately 85.9 million MYR, a slight increase from 85.3 million MYR in the previous year[51]. - The group had bank loans of approximately 13.6 million Ringgit as of June 30, 2022, compared to 10.6 million Ringgit in 2021, with an interest rate of 6.2%[52]. - The debt-to-equity ratio increased from approximately 9.3% as of June 30, 2021, to approximately 10.2% as of June 30, 2022, due to an increase in total bank loans and lease liabilities from approximately 11.4 million Ringgit to approximately 14.2 million Ringgit[52]. - The group reported contingent liabilities related to performance guarantees of approximately 2.4 million Ringgit as of June 30, 2022, down from 4.3 million Ringgit in 2021[60]. - The group has not recognized any impairment provisions for other receivables and deposits, as the expected credit risk remains insignificant as of June 30, 2022[65].

Revenue and Growth - Revenue increased by approximately 218.9 million MYR or 632.7% to about 253.5 million MYR for the six months ended December 31, 2021, compared to approximately 34.6 million MYR for the same period in 2020[14] - The increase in revenue was primarily driven by increased sand transportation volumes from a contract obtained in June 2020 and new contracts awarded during the reporting period[14] - Revenue from offshore construction services increased by approximately 215.8 million Ringgit or 1,166.5% to about 234.3 million Ringgit for the six months ended December 31, 2021[15] - Revenue from offshore transportation services rose by approximately 214.8 million Ringgit or 1,263.5% to about 231.8 million Ringgit for the same period[16] - Revenue from building and infrastructure services decreased by approximately 11.5 million Ringgit or 71.9% to about 4.5 million Ringgit, primarily due to the completion of several contracts[17] - The group anticipates further growth in revenue as it continues to expand its operations in offshore construction and marine fuel sales[14] Contracts and Tenders - The group completed one offshore construction contract with an original contract value of approximately 27.7 million MYR and two building and infrastructure contracts totaling approximately 0.1 million MYR during the six months ended December 31, 2021[11] - As of December 31, 2021, the group had seven ongoing offshore construction contracts with a total original contract value of approximately 777.3 million MYR and four ongoing building and infrastructure contracts valued at approximately 263.3 million MYR[11] - The group submitted six tenders and four quotations that are still pending results, with an expected total contract value of approximately 723.2 million MYR as of June 30, 2021[12] - The group has submitted one tender and nine quotations for offshore construction contracts, with an original contract value of approximately 427.8 million MYR during the six months ended December 31, 2021[12] - The group was awarded seven contracts with an original contract value of approximately 58.2 million MYR during the reporting period[12] Financial Performance - The group recorded a profit attributable to owners of the company of approximately 0.4 million Ringgit, compared to a loss of about 2.8 million Ringgit in the previous period[28] - Gross profit improved to approximately 10.6 million Ringgit with a gross profit margin of about 4.2%, compared to a gross loss of about 0.3 million Ringgit in the previous period[20] - The company reported a pre-tax profit of 1,294 thousand MYR, compared to a pre-tax loss of 3,818 thousand MYR in the same period last year[89] - The net loss for the period was 186 thousand MYR, a significant improvement from a net loss of 3,641 thousand MYR in the previous year[89] - The company has expressed optimism about future growth and profitability, supported by improved operational performance and market conditions[89] Cash Flow and Liquidity - As of December 31, 2021, the company had cash and cash equivalents of approximately 86.7 million Ringgit, an increase from 85.3 million Ringgit as of June 30, 2021[31] - Net cash generated from operating activities for the six months ended December 31, 2021, was 1,908 thousand Ringgit, compared to 729 thousand Ringgit in 2020, representing a significant increase of 161%[96] - Cash and cash equivalents increased by 1,371 thousand Ringgit, compared to a decrease of 1,156 thousand Ringgit in the previous year, indicating a positive cash flow trend[96] - The total cash and cash equivalents at the end of the period reached 86,743 thousand Ringgit, up from 70,808 thousand Ringgit in the previous year, showing a growth of 22%[96] Assets and Liabilities - Total assets as of December 31, 2021, were 268,084 thousand MYR, up from 246,351 thousand MYR as of June 30, 2021[91] - Current liabilities increased to 161,428 thousand MYR from 139,089 thousand MYR, indicating a rise in short-term obligations[91] - The company's net asset value stood at 122,254 thousand MYR, slightly down from 122,368 thousand MYR as of June 30, 2021[91] - The group’s total liabilities, including trade and other payables, amounted to 155,390,000 MYR as of December 31, 2021, compared to 135,618,000 MYR as of June 30, 2021[158] Shareholder Information - The largest shareholder, JBB Jade Investment Limited, holds 181,816,500 shares, representing approximately 36.36% of the total issued share capital[81] - JBB Berlian Investment Limited, another major shareholder, holds 161,233,500 shares, accounting for about 32.25% of the total issued share capital[81] - The company has maintained sufficient public float, with at least 25% of its issued shares publicly held[83] Corporate Governance - The company has adopted and complied with the corporate governance code as per the listing rules during the reporting period[67] - The board confirmed compliance with the standard code for securities transactions by directors throughout the reporting period[68] - No share options have been granted, exercised, lapsed, or cancelled under the share option scheme since its adoption[69] Operational Challenges - The ongoing COVID-19 pandemic and government-imposed restrictions have caused delays in planned construction projects, impacting overall service workload[14] - Due to the turbulent economic environment and ongoing COVID-19 pandemic, construction contracts have been delayed, and several contracts expected to be awarded have been potentially canceled[64] Future Outlook - The group plans to continue strict cost control measures and actively participate in tenders to maintain market competitiveness[57] - The expected timeline for utilizing the remaining proceeds will depend on the recovery of overall economic activity, with a target to fully utilize the funds by June 30, 2024[65] - The company plans to expand its market presence and enhance its service offerings in offshore construction and transportation sectors[119]

Financial Performance - The company reported a loss attributable to owners of approximately 9.4 million MYR for the year ended June 30, 2021, compared to a profit of about 2.2 million MYR for the year ended June 30, 2020[11]. - Revenue increased by approximately 15.5 million MYR or 12.4% to about 141.0 million MYR for the year ended June 30, 2021, compared to approximately 125.5 million MYR for the year ended June 30, 2020[22]. - Revenue from offshore construction services accounted for approximately 70.7% of total revenue, increasing by about 56.9 million MYR or 132.6% to approximately 99.8 million MYR for the year ended June 30, 2021[23]. - Revenue from marine transportation increased by approximately 65.9 million MYR or 207.9% to approximately 97.6 million MYR, primarily due to increased sand transportation volume from a new contract in Singapore[24]. - Revenue from building and infrastructure services decreased by approximately 41.4 million MYR or 50.1% to approximately 41.3 million MYR for the year ended June 30, 2021[25]. - Gross profit decreased by approximately 13.1 million MYR or 66.2% to approximately 6.7 million MYR, with overall gross margin dropping from 15.8% to 4.7%[27]. - Other income decreased from approximately 2.4 million MYR to about 1.2 million MYR, mainly due to a decline in interest income from bank deposits[28]. - The group recorded a trade receivables and contract assets impairment loss of approximately 5.1 million Ringgit for the year ended June 30, 2021, compared to 3.0 million Ringgit for the year ended June 30, 2020[30]. - The group reported an income tax expense of approximately 1.8 million Ringgit for the year ended June 30, 2021, down from about 2.2 million Ringgit for the year ended June 30, 2020, due to losses incurred during the year[33]. - Financial costs increased from approximately 147,000 Ringgit for the year ended June 30, 2020, to about 302,000 Ringgit for the year ended June 30, 2021, due to the drawdown of a term loan of approximately 10.6 million Ringgit[34]. Business Operations and Strategy - The ongoing COVID-19 pandemic has caused significant disruptions to the company's operations, impacting its business scale and development momentum[11]. - The company maintains a conservative outlook on its recent business and financial performance due to the uncertainty in the market caused by the pandemic[12]. - The company aims to leverage its strong financial position and ISO certification to actively participate in various tenders and diversify its investments in Malaysia, Singapore, and Hong Kong[14]. - The company plans to optimize its business model and strengthen its market position in offshore construction and building infrastructure services[14]. - The company continues to focus on sustainable development to address uncertainties and unexpected crises in the market[12]. - The group plans to enter the marine fuel trading business, which is expected to enhance profit margins and expand opportunities in the maritime transport value chain[62]. - The group adopts strict cost control measures and actively participates in tenders to maintain market competitiveness amid ongoing uncertainties from the COVID-19 pandemic[62]. - The company aims to diversify its business model and actively participate in various tenders to strengthen its position in the offshore construction and infrastructure services sectors[63]. Corporate Governance and Management - The company has a strong emphasis on corporate governance and independent judgment from its board members[85][91]. - The company has established a diverse board with members holding various professional qualifications and extensive industry experience[90]. - The group has adopted internal control measures to ensure compliance with relevant laws and regulations, with no significant violations reported for the year[112]. - The group emphasizes the importance of employee contributions and regularly reviews compensation and benefits policies[114]. - The board considers various criteria, including financial performance and future business conditions, when proposing dividends[119]. Shareholder and Financial Position - As of June 30, 2021, the group had cash and cash equivalents of approximately 85.3 million Ringgit, an increase from 76.0 million Ringgit in the previous year[39]. - The group maintained a stable current ratio of approximately 1.8 times as of June 30, 2021, compared to 1.9 times in the previous year[40]. - The total bank loans and lease liabilities increased from approximately 1.3 million Ringgit as of June 30, 2020, to about 11.4 million Ringgit as of June 30, 2021[40]. - The group had unutilized bank financing facilities of approximately 56.4 million Ringgit as of June 30, 2021, compared to 47.0 million Ringgit in the previous year[39]. - The reserves available for distribution to shareholders as of June 30, 2021, amount to approximately 104.3 million MYR[150]. Risks and Challenges - The company reported a significant reliance on non-recurring contracts, with future business dependent on the ability to secure new contracts after existing ones are completed[101]. - The company's profitability may be adversely affected by delays or changes in large contracts, which can lead to unexpected increases in project costs[102]. - The overall economic conditions and government policies in the construction industry are critical, as downturns can reduce demand for the company's services[105]. - The impact of the COVID-19 pandemic has introduced uncertainty in future market conditions, potentially leading to project delays and increased competition[106]. - The company faces risks related to delayed customer payments, which can significantly affect its financial condition and operational performance[107]. Community and Environmental Initiatives - The company received the InnoESG Prize 2021 for its environmental, social, and governance initiatives, awarded by a consortium of organizations[12]. - Environmental compliance measures have been implemented, including sediment control and air quality monitoring, to ensure adherence to environmental policies[110]. - The company made charitable donations totaling approximately 144,000 MYR during the fiscal year ending June 30, 2021, compared to 250,000 MYR in the previous year[155]. - JBB Builders is actively involved in community service and has members participating in various advisory committees[92]. Employee and Compensation Policies - The group has implemented a stock option plan to incentivize employees and align their interests with the company's[130]. - The stock option plan allows for the granting of options to eligible participants for a period of ten years[131]. - The group has complied with the corporate governance code as per the listing rules during the reporting period[124]. - The group had 51 employees as of June 30, 2021, down from 62 in 2020[114].

JBB BUILDERS INTERNATIONAL LIMITED （於開曼群島註冊成立的有限公司） 股份代號：1903 JBB BUILDERS INTERNATIONAL LIMITED (Incorporated in the Cayman Islands with limited liability) Stock Code : 1903 Interim Report 2020 中期報告 Interim Report 中期報告 目錄 | --- | --- | |------------------------------|-------| | | | | | | | 公司資料 | 2 | | 管理層討論與分析 | 4 | | 企業管治及其他資料 | 14 | | 簡明綜合損益及其他全面收益表 | 18 | | 簡明綜合財務狀況表 | 19 | | 簡明綜合權益變動表 | 20 | | 簡明綜合現金流量表 | 21 | | 簡明綜合財務報表附註 | 22 | 公司資料 董事會 授權代表（就上市規則而言） | --- | --- | |---------------------------------- ...

Financial Performance - For the fiscal year ended June 30, 2020, the company's revenue decreased by approximately 204.4 million MYR to about 125.5 million MYR from 329.9 million MYR for the fiscal year ended June 30, 2019[13]. - The company recorded a profit attributable to owners of the company of approximately 2.2 million MYR for the fiscal year ended June 30, 2020, compared to approximately 19.6 million MYR for the fiscal year ended June 30, 2019[13]. - The company's revenue decreased by approximately 204.4 million MYR or 62.0% from about 329.9 million MYR for the year ended June 30, 2019, to about 125.5 million MYR for the year ended June 30, 2020[23]. - Revenue from offshore construction services accounted for approximately 34.1% of total revenue, decreasing by about 124.8 million MYR or 74.4% to approximately 42.9 million MYR for the year ended June 30, 2020[24]. - Revenue from land reclamation and related works decreased by about 7.8 million MYR or 41.3% to approximately 11.1 million MYR for the year ended June 30, 2020[24]. - Revenue from offshore transportation services decreased by about 117.1 million MYR or 78.7% to approximately 31.7 million MYR for the year ended June 30, 2020[25]. - Revenue from building and infrastructure services accounted for approximately 65.9% of total revenue, decreasing by about 79.5 million MYR or 49.0% to approximately 82.7 million MYR for the year ended June 30, 2020[27]. - Gross profit decreased by approximately 18.6 million MYR or 48.4% to approximately 19.8 million MYR for the year ended June 30, 2020[28]. - Overall gross profit margin increased from 11.6% for the year ended June 30, 2019, to 15.8% for the year ended June 30, 2020[28]. - Other income increased to approximately 2.4 million MYR for the year ended June 30, 2020, from about 1.7 million MYR for the year ended June 30, 2019[29]. - The net other losses amounted to approximately 1.3 million MYR for the year ended June 30, 2020, compared to a net other income of about 358,000 MYR for the year ended June 30, 2019[30]. - The company recorded a profit attributable to owners of approximately 2.2 million Ringgit for the year ended June 30, 2020, a decrease of about 88.8% compared to approximately 19.6 million Ringgit for the year ended June 30, 2019[36]. Business Strategy and Operations - The company plans to continue developing new business opportunities in Malaysia, Singapore, and Hong Kong, focusing on both public and private sector projects[16]. - The company aims to strengthen its market position in offshore construction and building and infrastructure services[16]. - The company has received conditional approval from the Malaysian Ministry of International Trade and Industry to resume operations at construction sites that had commenced before the enforcement of movement restrictions[13]. - The company will implement strict cost control measures and monitor the development of the COVID-19 pandemic to mitigate potential adverse impacts on business operations and financial performance[15]. - Despite challenges, no contracts have been canceled by clients since the fiscal year ended June 30, 2020, and project progress is expected to gradually resume as the pandemic improves[16]. - The board anticipates a reduction, delay, or cancellation of existing project numbers in the market, increasing industry competition[15]. - The company submitted 4 bids and 13 tenders for contracts with a total estimated value of approximately 1,278.0 million MYR as of June 30, 2020[21]. - The total order amount as of June 30, 2020, was approximately 1,201.1 million Malaysian Ringgit[61]. Financial Position and Capital Management - The company will take appropriate measures, such as raising bank loans, to meet working capital needs when necessary[15]. - The company maintained a stable current ratio of approximately 1.9 times as of June 30, 2020, compared to 1.6 times as of June 30, 2019[40]. - Cash and cash equivalents decreased to approximately 76.0 million Ringgit as of June 30, 2020, from 114.6 million Ringgit as of June 30, 2019, primarily due to net cash outflows from operations[39]. - The company had lease liabilities of approximately 1.3 million Ringgit as of June 30, 2020, down from 2.3 million Ringgit as of June 30, 2019[39]. - The company’s total borrowings, including bank loans and lease liabilities, decreased from approximately 2.8 million Ringgit as of June 30, 2019, to about 1.3 million Ringgit as of June 30, 2020[40]. - The company has reserves available for distribution to shareholders amounting to approximately 109.0 million Ringgit as of June 30, 2020[146]. Employee and Governance - The company has expanded its board with independent non-executive directors to enhance governance and oversight[81]. - The board includes members with extensive backgrounds in finance, accounting, and corporate governance, ensuring a diverse skill set[86]. - The company has adopted a share option scheme to incentivize employees and align their interests with the company's performance[125]. - The share option scheme allows the board to grant options to eligible participants for a period of ten years from the adoption date[127]. - The company emphasizes the importance of employee contributions and regularly reviews compensation and benefits policies[110]. - The board will continuously review the dividend policy and retains the discretion to update or modify it at any time[118]. - The company has not experienced significant changes in its main business operations during the year[97]. - The management team has extensive experience in the construction industry, with key personnel holding relevant qualifications and certifications[94]. - As of June 30, 2020, the company had approximately 62 full-time employees, down from 76 in 2019[60]. Risk Management - The company faces credit risk primarily from individual customer characteristics, with significant credit concentration risk from major customers[48]. - The group has not implemented any foreign exchange hedging policies but monitors foreign exchange risks closely[53]. - The group believes that the interest rate risk from short-term fixed deposits and bank loans is not significant[52]. - The profitability of the company may be adversely affected by delays or changes in large contracts, which can lead to unexpected increases in project costs[100]. - The company's revenue may significantly differ from original contract amounts due to change orders or adjustments issued by clients during project execution[102]. - The overall performance of the company is influenced by the economic conditions of the markets in which it operates, with potential impacts from economic downturns or changes in government policies[103]. - The COVID-19 pandemic has introduced uncertainties that could negatively affect future business performance, including revenue and profitability[104]. Community and Corporate Responsibility - The company is actively involved in community service and supports initiatives for women in flexible work arrangements[89]. - Charitable contributions made by the group during the year amounted to approximately 250,000 Ringgit, compared to 254,000 Ringgit in the previous year[151]. - The company has implemented environmental compliance measures in contracts, including sediment curtain installation and air quality monitoring[106]. - The company has maintained compliance with relevant laws and regulations, with no significant violations reported during the fiscal year ending June 30, 2020[108].