Financial Performance - The company's revenue for the first half of 2020 decreased by approximately 20.8 million MYR (or 18.1%) to about 94.0 million MYR compared to approximately 114.8 million MYR in the first half of 2019[29]. - For the six months ended April 30, 2020, the company reported revenue of MYR 93,955,000, a decrease of 18.1% compared to MYR 114,804,000 for the same period in 2019[83]. - Gross profit for the same period was MYR 21,173,000, representing an increase of 43.1% from MYR 14,792,000 in the previous year[83]. - The company recorded a pre-tax profit of MYR 14,077,000, up 47.5% from MYR 9,544,000 in the prior year[83]. - The net profit attributable to owners of the company for the period was MYR 6,438,000, compared to MYR 9,584,000 in the previous year, reflecting a decrease of 32.5%[83]. - The company's profit attributable to owners for the first half of the fiscal year 2020 was approximately 9.6 million MYR, an increase of about 3.2 million MYR or 50.0% compared to 6.4 million MYR in the first half of fiscal year 2019[41]. Project Status - For the first half of the fiscal year 2020, Rimbaco Group completed 2 construction projects with a total original contract value of approximately MYR 80.7 million[10]. - As of April 30, 2020, the group had 6 ongoing construction projects with a total original contract value of approximately MYR 979.0 million[11]. - The largest ongoing project is a commercial/residential complex with an original contract value of MYR 517.973 million, estimated to be completed by February 28, 2022[15]. - The group is facing project delays due to the COVID-19 pandemic, with completion dates pushed back for several projects[19]. - The company secured one contract worth 14.6 million MYR as of April 30, 2020, while two bids were unsuccessful and two results remain uncertain[22]. - As of April 30, 2020, the company's uncompleted project order value was approximately 665.6 million MYR, down from about 745.3 million MYR on October 31, 2019[34]. Operational Challenges - The company is actively engaging with clients to discuss project timelines and adjustments due to the ongoing pandemic[19]. - The company anticipates challenges and uncertainties in the second half of the fiscal year ending October 31, 2020, due to potential supply chain disruptions in the construction industry[28]. - The company has implemented preventive measures to mitigate the impact of COVID-19 on operations, including flexible work-from-home arrangements and procurement of health products[24]. - The company is closely monitoring the impact of COVID-19 on its financial condition and performance, although the effects have not yet been quantified[133]. Financial Position - The capital debt ratio decreased from approximately 7.8% on October 31, 2019, to about 3.7% on April 30, 2020, primarily due to a reduction in lease liabilities and the issuance of new shares[42]. - As of April 30, 2020, the current ratio was approximately 2.98 times, up from about 1.56 times on October 31, 2019[43]. - The net current assets increased from approximately 74.0 million MYR on October 31, 2019, to about 140.4 million MYR on April 30, 2020, representing an increase of approximately 66.4 million MYR or 89.7%[48]. - The company had no outstanding bank borrowings as of April 30, 2020, and an unused bank overdraft facility of approximately 500,000 MYR[46]. - The cash balance as of April 30, 2020, was approximately 34.0 million MYR, compared to about 14.3 million MYR on October 31, 2019[42]. - The company's equity as of April 30, 2020, was 160,312 thousand MYR, up from 94,673 thousand MYR as of October 31, 2019, reflecting a growth of approximately 69%[87]. Shareholder Information - Rimbaco Group's stock was listed on the Hong Kong Stock Exchange on April 28, 2020[10]. - As of April 30, 2020, RBC Venture Limited held 75% of the company's shares, with Low Seah Sun owning 40% of RBC Venture Limited[72]. - The company has adopted a share option scheme to attract and retain talent, with no unexercised options as of April 30, 2020[77]. - The company did not recommend any interim dividend for the first half of the 2020 financial year[79]. - The company has not declared or proposed any dividends during the reporting period[129]. Future Outlook - The company plans to seek new business opportunities to offset the negative impacts of COVID-19, supported by the Malaysian government's economic stimulus policies[28]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[96].