TBKS HLDGS(01960)

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TBKS HLDGS(01960) - 月报表截至30/09/2025
2025-10-03 08:39
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 FF301 II. 已發行股份及/或庫存股份變動 致:香港交易及結算所有限公司 公司名稱: TBK & Sons Holdings Limited 呈交日期: 2025年10月3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) | 01960 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | ...
TBKS HLDGS(01960)发布年度业绩,股东应占亏损2833.8万令吉 同比减少13.46%
智通财经网· 2025-09-29 15:00
Core Viewpoint - TBKS HLDGS reported a significant decline in revenue and a loss for the fiscal year ending June 30, 2025, indicating ongoing financial challenges despite some improvements in gross profit and reduced administrative expenses [1] Financial Performance - The company achieved revenue of 97.408 million MYR, a decrease of 66.19% year-on-year [1] - The loss attributable to shareholders was 28.338 million MYR, a reduction of 13.46% compared to the previous year [1] - The loss per share was reported at 2.83 sen [1] Cost Management - The improvement in financial performance was attributed to an increase in gross profit despite the significant drop in revenue [1] - The net impairment loss on expected credit losses for trade receivables, contract assets, and other receivables decreased from approximately 22.10 million MYR for the fiscal year ending June 30, 2024, to about 17.40 million MYR for the current fiscal year [1] - The company experienced a substantial reduction in administrative expenses during the fiscal year [1]
TBKS HLDGS(01960) - 2025 - 年度业绩
2025-09-29 14:47
[Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=1&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) [Overview of Profit or Loss and Comprehensive Income](index=1&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income_Summary) For the fiscal year ended June 30, 2025, the Group's revenue significantly decreased by **66.2%** to **97,408 thousand Ringgit**, with the loss for the year narrowing to **31,173 thousand Ringgit** and loss per share improving to **2.83 sen Ringgit** Key Data from Consolidated Statement of Profit or Loss and Other Comprehensive Income | Metric | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 97,408 | 288,093 | -66.2% | | Cost of sales | (91,064) | (283,206) | -67.9% | | Gross profit | 6,344 | 4,887 | +29.8% | | Loss before tax | (30,726) | (37,829) | -18.7% | | Loss for the year | (31,173) | (37,906) | -17.7% | | Loss for the year attributable to owners of the Company | (28,338) | (32,744) | -13.5% | | Loss per share (sen Ringgit) | (2.83) | (3.27) | -13.5% | - Net other comprehensive expenses for the year amounted to **(1,475) thousand Ringgit**, primarily due to exchange differences arising from the translation of foreign operations of **(1,571) thousand Ringgit**[5](index=5&type=chunk) [Consolidated Statement of Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) [Overview of Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position_Summary) As of June 30, 2025, the Group's total net assets were **74,584 thousand Ringgit**, a **30.4%** decrease from the prior year, with net current assets at **64,863 thousand Ringgit** and a current ratio of **1.9 times**, indicating decreased but still stable liquidity Key Data from Consolidated Statement of Financial Position | Metric | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | Change (%) | | :--- | :--- | :--- | :--- | | Non-current assets | 10,581 | 15,807 | -33.0% | | Current assets | 135,652 | 165,712 | -18.2% | | Current liabilities | 70,789 | 73,891 | -4.2% | | Net current assets | 64,863 | 91,821 | -29.3% | | Net assets | 74,584 | 107,232 | -30.4% | | Equity attributable to owners of the Company | 80,671 | 110,919 | -27.3% | - Trade and other receivables decreased from **76,830 thousand Ringgit** to **60,602 thousand Ringgit**, and contract assets decreased from **49,918 thousand Ringgit** to **35,214 thousand Ringgit**, reflecting collection challenges in the Group's China operations[6](index=6&type=chunk) - Assets classified as held for sale increased by **4,689 thousand Ringgit**, primarily due to the disposal of freehold land in Johor, Malaysia[6](index=6&type=chunk)[28](index=28&type=chunk) [Notes to the Consolidated Financial Statements](index=5&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) [1. General Information](index=5&type=section&id=1.%20General%20Information) TBK & Sons Holdings Limited is incorporated in the Cayman Islands, primarily engaged in civil and structural engineering in Malaysia and China, and trading of petroleum and related products in China, with its functional currency in HKD and financial statements presented in Malaysian Ringgit - The Company is an investment holding company, with subsidiaries primarily engaged in civil and structural engineering in Malaysia and China, and trading of petroleum and related products in China[9](index=9&type=chunk) - The Company's functional currency is HKD, but financial statements are presented in Malaysian Ringgit to better reflect how management monitors the Group's performance[9](index=9&type=chunk) [2. Application of New and Revised IFRSs](index=5&type=section&id=2.%20Application%20of%20New%20and%20Revised%20IFRSs) This year, the Group first applied certain amendments to International Financial Reporting Standards issued by the IASB, including those on classification of liabilities as current or non-current, which had no significant impact on the financial position or performance for the current or prior years - This year marked the first application of IAS 1 (Amendments) Classification of Liabilities as Current or Non-current and IAS 1 (Amendments) Non-current Liabilities with Covenants[10](index=10&type=chunk)[11](index=11&type=chunk) - The application of new accounting policies retrospectively reclassified liabilities as current or non-current, but had no significant impact on the consolidated financial statements[11](index=11&type=chunk) - New IFRSs issued but not yet effective include IFRS 18 "Presentation and Disclosure in Financial Statements", expected to be effective on or after January 1, 2027[13](index=13&type=chunk)[15](index=15&type=chunk) [3. Basis of Preparation of Consolidated Financial Statements](index=7&type=section&id=3.%20Basis%20of%20Preparation%20of%20Consolidated%20Financial%20Statements) The consolidated financial statements are prepared in accordance with International Financial Reporting Standards issued by the IASB and comply with applicable disclosure requirements of the HKEX Listing Rules and the Hong Kong Companies Ordinance - The consolidated financial statements are prepared in accordance with International Financial Reporting Standards issued by the IASB[14](index=14&type=chunk) - The statements also include applicable disclosure information required by the HKEX Listing Rules and the Hong Kong Companies Ordinance[14](index=14&type=chunk) [4. Operating Segments](index=8&type=section&id=4.%20Operating%20Segments) The Group's operating segments include earthworks, civil engineering, building construction, building and renovation works, and trading of petroleum and related products; in FY2025, civil engineering projects contributed the highest revenue, while petroleum and related products trading revenue significantly decreased - The Group's reportable segments include earthworks projects, civil engineering projects, building construction projects, building and renovation works projects, and trading of petroleum and related products[18](index=18&type=chunk) Segment Revenue and Gross Profit (2025) | Segment | Revenue (thousand Ringgit) | Gross Profit (thousand Ringgit) | | :--- | :--- | :--- | | Earthworks projects | 600 | 39 | | Civil engineering projects | 79,324 | 5,792 | | Building construction projects | 1,285 | 96 | | Building and renovation works projects | 15,847 | 65 | | Trading of petroleum and related products | 352 | 352 | | **Total** | **97,408** | **6,344** | - In FY2025, civil engineering projects were the largest source of revenue, while revenue from trading of petroleum and related products significantly decreased from **179,640 thousand Ringgit** in 2024 to **352 thousand Ringgit**[17](index=17&type=chunk)[19](index=19&type=chunk) [5. Revenue](index=9&type=section&id=5.%20Revenue) The Group's revenue primarily derives from civil and structural engineering services and trading of petroleum and related products, with total revenue for FY2025 at **97,408 thousand Ringgit**, a significant decrease from **288,093 thousand Ringgit** in 2024, mainly due to a sharp decline in petroleum and related products trading revenue - Revenue represents amounts received and receivable by the Group for providing civil and structural engineering and trading of petroleum and related products to customers[20](index=20&type=chunk) Revenue by Recognition Timing and Business Type | Business Type | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | **Recognized over time (Engineering projects)** | | | | Earthworks projects | 600 | 2,922 | | Civil engineering projects | 79,324 | 51,522 | | Building construction projects | 1,285 | 1,525 | | Building and renovation works projects | 15,847 | 52,484 | | Subtotal | 97,056 | 108,453 | | **Recognized at a point in time** | | | | Trading of petroleum and related products | 352 | 179,640 | | **Total** | **97,408** | **288,093** | - Revenue from trading of petroleum and related products significantly decreased from **179,640 thousand Ringgit** in 2024 to **352 thousand Ringgit** in 2025, which is the primary reason for the decline in total revenue[21](index=21&type=chunk) [6. Finance Costs](index=10&type=section&id=6.%20Finance%20Costs) Finance costs for the fiscal year amounted to **470 thousand Ringgit**, an increase from the prior year, primarily due to interest on bank and other borrowings Finance Costs Breakdown | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Interest on bank and other borrowings | 431 | 282 | | Interest on lease liabilities | 39 | 77 | | **Total** | **470** | **359** | - Finance costs increased by **30.9%** from **359 thousand Ringgit** in 2024 to **470 thousand Ringgit** in 2025[21](index=21&type=chunk) [7. Loss Before Tax](index=11&type=section&id=7.%20Loss%20Before%20Tax) Loss before tax for the fiscal year narrowed to **30,726 thousand Ringgit** from **37,829 thousand Ringgit** last year, primarily influenced by expected credit losses, employee benefit expenses, and subcontracting fees Key Deductions/Additions to Loss Before Tax | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Auditor's remuneration | 545 | 906 | | Amortisation of intangible assets | 127 | 164 | | Depreciation of property, plant and equipment | 653 | 1,156 | | Depreciation of right-of-use assets | 960 | 2,093 | | Impairment loss under ECL model, net of reversal | 17,437 | 22,120 | | Cost of inventories | 17,259 | 195,481 | | Subcontracting fees included in cost of sales | 48,510 | 60,082 | | Total employee costs | 26,737 | 30,022 | - Net impairment loss under the expected credit loss model decreased from **22,120 thousand Ringgit** in 2024 to **17,437 thousand Ringgit** in 2025[22](index=22&type=chunk) - Cost of inventories significantly decreased from **195,481 thousand Ringgit** in 2024 to **17,259 thousand Ringgit** in 2025, mainly related to the contraction of the petroleum trading business[22](index=22&type=chunk) [8. Income Tax Expense](index=12&type=section&id=8.%20Income%20Tax%20Expense) Income tax expense for the fiscal year significantly increased to **447 thousand Ringgit** from **77 thousand Ringgit** last year, primarily due to increased revenue and profit from civil and structural engineering in Malaysia Income Tax Expense Breakdown | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Malaysia corporate income tax | 423 | 57 | | China corporate income tax | – | 14 | | Deferred tax | 24 | (25) | | **Total Income Tax Expense** | **447** | **77** | - The increase in income tax expense is primarily due to increased revenue and profit from the Group's civil and structural engineering operations in Malaysia during the fiscal year[70](index=70&type=chunk) [9. Loss Per Share](index=12&type=section&id=9.%20Loss%20Per%20Share) Basic and diluted loss per share for the fiscal year was **2.83 sen Ringgit**, an improvement from **3.27 sen Ringgit** last year, mainly due to a reduction in loss attributable to owners of the Company Loss Per Share Calculation Data | Metric | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Loss for the year attributable to owners of the Company | (28,338) | (32,744) | | Weighted average number of ordinary shares | 1,000,000,000 | 1,000,000,000 | | **Loss per share (Ringgit)** | **(0.0283)** | **(0.0327)** | - The calculation of diluted loss per share did not assume the exercise of share options because the exercise price was higher than the average market price of the shares[24](index=24&type=chunk) [10. Dividends](index=12&type=section&id=10.%20Dividends) The Company has not paid or proposed to declare any dividends for the year ended June 30, 2025, or since the end of the reporting period - The Company has not paid or proposed to declare any dividends to ordinary shareholders for the fiscal year or since the end of the reporting period[25](index=25&type=chunk) [11. Trade and Other Receivables](index=13&type=section&id=11.%20Trade%20and%20Other%20Receivables) As of June 30, 2025, total trade and other receivables amounted to **60,602 thousand Ringgit**, a decrease from **76,830 thousand Ringgit** last year, with a significant increase in credit loss provisions, especially for trade receivables Trade and Other Receivables Breakdown | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Trade receivables (net of provision) | 40,138 | 53,958 | | Advances to subcontractors and suppliers | 475 | 17,291 | | Other receivables (net of provision) | 20,385 | 22,172 | | Prepayments | 79 | 700 | | **Total** | **60,602** | **76,830** | - Credit loss provision for trade receivables increased from **22,987 thousand Ringgit** in 2024 to **34,808 thousand Ringgit** in 2025[26](index=26&type=chunk) Ageing Analysis of Trade Receivables (Gross) | Ageing | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | 1 to 90 days | 12,981 | 34,155 | | 91 to 180 days | 8,508 | 22,782 | | 181 to 270 days | 10,253 | 1,591 | | 271 to 360 days | 4,394 | 2,750 | | Over 360 days | 38,810 | 15,667 | | **Total** | **74,946** | **76,945** | [12. Assets Classified as Held for Sale](index=14&type=section&id=12.%20Assets%20Classified%20as%20Held%20for%20Sale) New assets classified as held for sale amounted to **4,689 thousand Ringgit** for the fiscal year, primarily freehold land in Johor, Malaysia, for which a sale and purchase agreement has been entered into with an independent third party - In April 2025, the Company's indirect wholly-owned subsidiary entered into a sale and purchase agreement to dispose of four parcels of freehold land in Johor, Malaysia, for approximately **11,462 thousand Ringgit**[28](index=28&type=chunk) - As of June 30, 2025, approximately **4,689 thousand Ringgit** of freehold land was classified as assets held for sale, with no impairment loss recognized[28](index=28&type=chunk) [13. Trade and Other Payables](index=14&type=section&id=13.%20Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables amounted to **65,650 thousand Ringgit**, a slight decrease from **67,964 thousand Ringgit** last year, with trade payables aged over 90 days significantly increasing Trade and Other Payables Breakdown | Item | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Trade payables | 49,028 | 53,864 | | Retention money payable | 2,080 | 1,222 | | Accrued expenses | 7,640 | 3,965 | | Other payables | 6,902 | 8,913 | | **Total** | **65,650** | **67,964** | Ageing Analysis of Trade Payables | Ageing | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Within 30 days | 12,336 | 31,358 | | 31 to 60 days | 4,623 | 2,297 | | 61 to 90 days | 5,710 | 2,601 | | Over 90 days | 26,359 | 17,608 | | **Total** | **49,028** | **53,864** | - Trade payables aged over 90 days increased from **17,608 thousand Ringgit** in 2024 to **26,359 thousand Ringgit** in 2025, indicating delays in some payments[30](index=30&type=chunk) [14. Comparative Figures](index=15&type=section&id=14.%20Comparative%20Figures) To enhance the relevance of the consolidated financial statements, certain comparative figures presented in the prior year's consolidated financial statements have been reclassified to align with the current year's presentation - To enhance presentation relevance, certain comparative figures in the prior year's consolidated financial statements have been reclassified[31](index=31&type=chunk) Example of Comparative Figures Restatement | Item | Previously Reported (thousand Ringgit) | Reclassification (thousand Ringgit) | Restated (thousand Ringgit) | | :--- | :--- | :--- | :--- | | Net impairment loss on trade receivables and contract assets | (21,244) | 21,244 | – | | Impairment loss under ECL model, net of reversal | – | (22,120) | 22,120 | | Current liabilities - bank and other borrowings | 2,988 | 579 | 3,567 | | Non-current liabilities - bank and other borrowings | 975 | (579) | 396 | [Management Discussion and Analysis](index=16&type=section&id=Management%20Discussion%20and%20Analysis) [Overall Economic Environment and Group Performance](index=16&type=section&id=Overall%20Economic%20Environment%20and%20Group%20Performance) The global economy faces complex challenges, including geopolitical uncertainties, inflationary pressures, and weak productivity growth, compounded by a persistent downturn in China's property market, adversely impacting the Group's overall performance, with revenue significantly decreasing by **66.2%** to **97.4 million Ringgit** in the fiscal year - The global economy faces a complex and challenging environment, marked by heightened geopolitical uncertainties, persistent inflationary pressures, and sluggish productivity growth[32](index=32&type=chunk) - The ongoing weakness in China's property market further constrained economic activity, adversely impacting the Group's overall performance[32](index=32&type=chunk) - The Group's revenue for the fiscal year decreased by approximately **190.7 million Ringgit** or **66.2%** from approximately **288.1 million Ringgit** to approximately **97.4 million Ringgit**[32](index=32&type=chunk) [Civil and Structural Engineering in Malaysia](index=16&type=section&id=Civil%20and%20Structural%20Engineering%20in%20Malaysia) Amid a favorable economic backdrop in Malaysia, the Group's civil and structural engineering business remained stable and showed an upward trend, with revenue growing **45.0%** to **81.2 million Ringgit** and gross profit margin improving to **7.3%**, despite rising costs and increased competition - Malaysia's GDP grew by **5.1%**, foreign exchange reserves increased, and the Ringgit appreciated against the US Dollar, creating a more favorable economic backdrop[33](index=33&type=chunk) - The civil and structural engineering business in Malaysia remained relatively stable and showed a positive upward trend, but faced headwinds from rising costs, tightening profit margins, and intense price competition[34](index=34&type=chunk) Financial Performance of Civil and Structural Engineering in Malaysia | Metric | 2025 (million Ringgit) | 2024 (million Ringgit) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 81.2 | 56.0 | +45.0% | | Gross profit | 5.9 | 3.6 | +63.9% | | Gross profit margin | 7.3% | 6.4% | +0.9pp | [Civil and Structural Engineering in China](index=17&type=section&id=Civil%20and%20Structural%20Engineering%20in%20China) The weak property market in China posed significant challenges for the Group's civil and structural engineering business in the country, including intense competition, extended payment terms, and declining profit margins, leading to a **69.9%** revenue decrease to **15.8 million Ringgit** and a gross profit margin drop to **0.4%**; the Group has slowed new project negotiations, focused on collections, and shifted towards smaller building and renovation works - The economic situation in China did not improve, with the persistent weakness in the property market leading to intense contract competition, extended payment terms, delayed progress certifications, customer payment delays, and declining profit margins for the Group's civil and structural engineering business in China[35](index=35&type=chunk) - The Group has slowed new project negotiations, focused on completing ongoing projects, prioritized the recovery of trade receivables and contract assets, and strategically shifted towards smaller building and renovation works projects[35](index=35&type=chunk) Financial Performance of Civil and Structural Engineering in China | Metric | 2025 (million Ringgit) | 2024 (million Ringgit) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 15.8 | 52.5 | -69.9% | | Gross profit | 0.1 | 0.8 | -87.5% | | Gross profit margin | 0.4% | 1.5% | -1.1pp | [Trading of Petroleum and Related Products in China](index=17&type=section&id=Trading%20of%20Petroleum%20and%20Related%20Products%20in%20China) The persistent sluggish market sentiment in China, weak demand for refined petroleum products due to the property downturn, and volatile international oil prices led to a **99.8%** revenue decrease to **0.4 million Ringgit** for the Group's petroleum trading business in China, prompting a cautious operating approach and revenue recognition on a net basis - The persistent sluggish market sentiment in China, coupled with the downturn in the property sector and reduced infrastructure projects, led to weak demand for refined petroleum products and falling prices[37](index=37&type=chunk) - The ongoing Russia-Ukraine war and Israel-Palestine conflict exacerbated volatility in the international oil market, making it difficult for the Group to fully pass on increased supplier costs to customers[37](index=37&type=chunk) Financial Performance of Trading of Petroleum and Related Products in China | Metric | 2025 (million Ringgit) | 2024 (million Ringgit) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 0.4 | 179.6 | -99.8% | | Gross profit | Not presented | 0.6 | -100% | | Gross profit margin | Not presented | 0.3% | -100% | [Loss Attributable to Owners of the Company](index=18&type=section&id=Loss%20Attributable%20to%20Owners%20of%20the%20Company) The loss attributable to owners of the Company for the fiscal year was approximately **28.3 million Ringgit**, an improvement from **32.7 million Ringgit** last year, primarily due to increased gross profit, a significant reduction in net expected credit losses, and substantially lower administrative expenses - The loss attributable to owners of the Company for the fiscal year was approximately **28.3 million Ringgit**, an improvement from **32.7 million Ringgit** last year[38](index=38&type=chunk) - The improved financial results were primarily due to increased gross profit, a significant reduction in net impairment loss on expected credit losses for trade receivables, contract assets, and other receivables, and a substantial decrease in administrative expenses[38](index=38&type=chunk) [Business Review](index=18&type=section&id=Business%20Review) [Civil and Structural Engineering in Malaysia](index=18&type=section&id=Business%20Review_Civil%20and%20Structural%20Engineering%20in%20Malaysia) The Group's civil and structural engineering business in Malaysia maintained stable growth, with revenue increasing **45.0%** to **81.2 million Ringgit**; civil engineering projects were the main growth driver, while earthworks and building construction project revenues declined, and as of June 30, 2025, the Group had 7 projects on hand - The Group holds CE, B, and ME Class G7 qualifications in Malaysia, the highest contractor licenses under the Construction Industry Development Board, allowing it to undertake civil and structural engineering projects with unlimited tender/contract value[39](index=39&type=chunk) Malaysia Civil and Structural Engineering Revenue Breakdown | Nature of Works | 2025 (thousand Ringgit) | Approx. % (2025) | 2024 (thousand Ringgit) | Approx. % (2024) | | :--- | :--- | :--- | :--- | :--- | | Earthworks projects | 600 | 0.7 | 2,922 | 5.2 | | Civil engineering projects | 79,324 | 97.7 | 51,522 | 92.1 | | Building construction projects | 1,285 | 1.6 | 1,525 | 2.7 | | **Total** | **81,209** | **100.0** | **55,969** | **100.0** | - Revenue from civil engineering projects increased by approximately **54.0%** to **79.3 million Ringgit**, driven by new and ongoing projects[42](index=42&type=chunk) - As of June 30, 2025, the Group had **7** projects on hand in Malaysia, primarily civil engineering projects[45](index=45&type=chunk) [Civil and Structural Engineering in China](index=21&type=section&id=Business%20Review_Civil%20and%20Structural%20Engineering%20in%20China) The Group's civil and structural engineering business in China faced severe challenges, with revenue significantly decreasing by **69.9%** to **15.8 million Ringgit**; the Group has slowed new project negotiations, focused on completing ongoing projects and collecting receivables, and strategically shifted towards smaller building and renovation works to mitigate payment delays - In April 2022, the Group acquired a **75%** equity interest in Qingdao Xinhongyao Construction Technology Co., Ltd., which engages in building and renovation works projects in China and has obtained relevant qualification certificates and management system certifications[46](index=46&type=chunk) - The China business faces significant challenges including intense contract competition, extended payment terms, delayed progress certifications, customer payment delays, and declining profit margins[47](index=47&type=chunk) - The Group has slowed new project negotiations, focused on completing ongoing projects, prioritized the recovery of trade receivables and contract assets, and strategically shifted towards smaller building and renovation works projects[47](index=47&type=chunk) - As of June 30, 2025, the Group had **10** projects on hand in China, primarily involving building and renovation works[49](index=49&type=chunk) [Trading of Petroleum and Related Products in China](index=23&type=section&id=Business%20Review_Trading%20of%20Petroleum%20and%20Related%20Products%20in%20China) Affected by the sluggish Chinese market, weak property sector, and volatile international oil prices, the Group's revenue from trading of petroleum and related products in China significantly decreased by **99.8%** to **0.4 million Ringgit**, leading the Group to adopt a cautious operating approach and enter into only one petroleum trading agency agreement this fiscal year - The persistent sluggish market sentiment in China, coupled with the downturn in the property sector and reduced infrastructure projects, led to weak demand for refined petroleum products and falling prices[50](index=50&type=chunk) - The ongoing Russia-Ukraine war and Israel-Palestine conflict exacerbated volatility in the international oil market, making it difficult for the Group to fully pass on increased supplier costs to customers[50](index=50&type=chunk) - Only one petroleum trading agency agreement was entered into during the fiscal year, resulting in a significant **99.8%** decrease in revenue to approximately **0.4 million Ringgit**[50](index=50&type=chunk) [Outlook and Financial Review](index=23&type=section&id=Outlook%20and%20Financial%20Review) [Outlook](index=23&type=section&id=Outlook) The Group anticipates facing similar challenges in the 2025/2026 fiscal year as the previous year, including slowing global growth, geopolitical uncertainties, high interest rates, and a depressed Chinese property market; the Group will adopt a cautious approach, explore new opportunities, expand its customer base, and diversify into new energy-related processing and logistics businesses - Global growth is decelerating, representing one of the weakest five-year outlooks in decades, impacted by persistent structural challenges such as slowing productivity growth, escalating geopolitical uncertainties, rising financing costs, and increasing trade tensions[51](index=51&type=chunk) - The Group expects to face similar challenges in the 2025/2026 fiscal year, including difficulties in securing new projects, pressure on profit margins, a depressed Chinese property market, and slowing infrastructure projects[51](index=51&type=chunk) - The Group will adopt a cautious and risk-aware approach, exploring business opportunities in Malaysia, China, and neighboring countries, actively seeking new projects, expanding its customer base and supply sources, and exploring business diversification, including new energy-related processing and logistics businesses[51](index=51&type=chunk) [Financial Review](index=24&type=section&id=Financial%20Review) This section provides a detailed review of the Group's revenue, cost of sales, gross profit, selling and distribution expenses, administrative expenses, impairment losses, finance costs, income tax expense, and loss and loss per share, along with an analysis of the reasons for changes in each item [Revenue](index=24&type=section&id=Financial%20Review_Revenue) Revenue from civil and structural engineering in Malaysia increased by **45.0%** to **81.2 million Ringgit** in the fiscal year - For the fiscal year, revenue from civil and structural engineering in Malaysia increased by approximately **45.0%** from approximately **56.0 million Ringgit** for the year ended June 30, 2024, to approximately **81.2 million Ringgit** for the current fiscal year[53](index=53&type=chunk) [Cost of Sales](index=24&type=section&id=Financial%20Review_Cost%20of%20Sales) Cost of sales for civil and structural engineering in Malaysia increased by **43.7%** to **75.3 million Ringgit**, consistent with revenue growth; cost of sales for civil and structural engineering in China decreased in line with declining revenue; the China petroleum trading business recorded zero cost of sales due to a shift to an agency model Malaysia Civil and Structural Engineering Direct Costs Breakdown | Item | 2025 (thousand Ringgit) | Approx. % (2025) | 2024 (thousand Ringgit) | Approx. % (2024) | | :--- | :--- | :--- | :--- | :--- | | Direct materials | 16,559 | 22.0 | 16,178 | 30.9 | | Subcontracting fees | 35,237 | 46.8 | 11,533 | 22.0 | | Direct labor | 16,090 | 21.4 | 15,887 | 30.3 | | Machinery and equipment rental | 1,041 | 1.3 | 1,457 | 2.8 | | Depreciation | 814 | 1.1 | 1,470 | 2.8 | | Other costs | 5,541 | 7.4 | 5,884 | 11.2 | | **Total** | **75,282** | **100.0** | **52,409** | **100.0** | - Cost of sales for civil and structural engineering in Malaysia increased by approximately **43.7%** to **75.3 million Ringgit**, consistent with the increase in revenue[55](index=55&type=chunk) - Cost of sales for civil and structural engineering in China was approximately **15.8 million Ringgit** (2024: **51.7 million Ringgit**), consistent with the decrease in revenue, primarily due to reduced construction work subcontracted to subcontractors[60](index=60&type=chunk) - The China petroleum and related products trading business recorded no cost of sales (2024: approximately **179.1 million Ringgit**) as the Group acted as an agent and recognized revenue on a net basis[64](index=64&type=chunk) [Gross Profit and Gross Margin](index=25&type=section&id=Financial%20Review_Gross%20Profit%20and%20Gross%20Margin) Gross profit for civil and structural engineering in Malaysia increased by **63.9%** to **5.9 million Ringgit**, with the gross profit margin improving to **7.3%**; gross profit for civil and structural engineering in China significantly decreased to **0.1 million Ringgit**, with the gross profit margin falling to **0.4%**; the China petroleum trading business did not present gross profit due to its agency model - Gross profit for civil and structural engineering in Malaysia increased by approximately **63.9%** to **5.9 million Ringgit**, with the gross profit margin increasing from approximately **6.4%** to approximately **7.3%**[56](index=56&type=chunk) - Gross profit for civil and structural engineering in China was approximately **0.1 million Ringgit** (2024: **0.8 million Ringgit**), with a gross profit margin of approximately **0.4%** (2024: **1.5%**), primarily due to decreased gross profit from newly provided construction labor projects and reduced subcontracted work[61](index=61&type=chunk) - The China petroleum and related products trading business did not present gross profit or gross profit margin as the Group acted as an agent and recognized revenue on a net basis[64](index=64&type=chunk) [Selling and Distribution Expenses](index=27&type=section&id=Financial%20Review_Selling%20and%20Distribution%20Expenses) Selling and distribution expenses for the fiscal year were approximately **0.4 million Ringgit**, a decrease from **0.7 million Ringgit** last year, primarily due to reduced employee and related expenses resulting from lower revenue - Selling and distribution expenses were approximately **0.4 million Ringgit** (2024: **0.7 million Ringgit**), with the decrease primarily due to reduced employee and related expenses resulting from lower revenue[65](index=65&type=chunk) [Administrative Expenses](index=28&type=section&id=Financial%20Review_Administrative%20Expenses) Administrative expenses for the fiscal year were approximately **18.3 million Ringgit**, a decrease from **20.8 million Ringgit** last year, primarily due to reduced employee and related expenses - Administrative expenses were approximately **18.3 million Ringgit** (2024: **20.8 million Ringgit**), with the decrease primarily due to reduced employee and related expenses[66](index=66&type=chunk) - Employee benefit expenses were the main component of administrative expenses, accounting for approximately **57.7%** (2024: **63.7%**) of administrative expenses[66](index=66&type=chunk) [Net Impairment Loss on Trade Receivables, Contract Assets and Other Receivables](index=28&type=section&id=Financial%20Review_Net%20Impairment%20Loss%20on%20Trade%20Receivables,%20Contract%20Assets%20and%20Other%20Receivables) Net impairment loss recognized for the fiscal year was approximately **17.4 million Ringgit**, a decrease from **22.1 million Ringgit** last year; however, impairment provisions for trade receivables and contract assets still significantly increased, mainly due to customer payment delays - Net impairment loss on expected credit losses for trade receivables, contract assets, and other receivables recognized for the fiscal year was approximately **17.4 million Ringgit** (2024: **22.1 million Ringgit**)[67](index=67&type=chunk) Impairment Loss Provisions | Item | 2025 (million Ringgit) | 2024 (million Ringgit) | | :--- | :--- | :--- | | Trade receivables | 34.8 | 23.0 | | Contract assets | 6.4 | 3.0 | | Other receivables | 0.6 | 0.9 | - The increase in expected credit losses was primarily due to customer payment delays, reflecting negative changes in credit risk associated with outstanding trade receivables and contract assets[67](index=67&type=chunk) - The Group has established monitoring procedures, actively communicates with customers, and has slowed new project negotiations in China to focus on collection procedures[68](index=68&type=chunk) [Finance Costs](index=29&type=section&id=Financial%20Review_Finance%20Costs) Finance costs for the fiscal year were approximately **0.5 million Ringgit**, an increase from **0.4 million Ringgit** last year, primarily due to interest on bank and other borrowings - Finance costs refer to interest on bank overdrafts, bank and other borrowings, and lease liabilities[69](index=69&type=chunk) - For the years ended June 30, 2025 and 2024, the Group recorded finance costs of approximately **0.5 million Ringgit** and **0.4 million Ringgit**, respectively[69](index=69&type=chunk) [Income Tax Expense](index=29&type=section&id=Financial%20Review_Income%20Tax%20Expense) Income tax expense for the fiscal year was approximately **447,000 Ringgit**, a significant increase from **77,000 Ringgit** last year, primarily due to increased revenue and profit from civil and structural engineering in Malaysia - Income tax expense for the fiscal year was approximately **447,000 Ringgit** (2024: **77,000 Ringgit**)[70](index=70&type=chunk) - The increase was primarily due to increased revenue and profit from the Group's civil and structural engineering operations in Malaysia during the fiscal year[70](index=70&type=chunk) [Loss and Loss Per Share](index=29&type=section&id=Financial%20Review_Loss%20and%20Loss%20Per%20Share) The loss attributable to owners of the Company for the fiscal year was approximately **28.3 million Ringgit**, with a loss per share of approximately **2.83 sen Ringgit**, both showing improvement from last year, primarily due to increased gross profit and a significant reduction in net impairment losses - The loss attributable to owners of the Company for the fiscal year was approximately **28.3 million Ringgit** (2024: **32.7 million Ringgit**)[71](index=71&type=chunk) - The loss per share for the fiscal year was approximately **2.83 sen Ringgit** (2023: **3.27 sen Ringgit**)[71](index=71&type=chunk) - The improved financial results were primarily due to increased gross profit and a significant reduction in net impairment loss on expected credit losses for trade receivables, contract assets, and other receivables[71](index=71&type=chunk) [Key Financial Ratios](index=29&type=section&id=Key%20Financial%20Ratios) [Overview of Key Financial Ratios](index=29&type=section&id=Key%20Financial%20Ratios_Summary) As of June 30, 2025, the Group's current ratio and quick ratio both decreased, the debt-to-asset ratio increased, and return on equity and return on total assets remained negative but improved, while interest coverage ratio remained negative Key Financial Ratios | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Current ratio (times) | 1.9 | 2.3 | | Quick ratio (times) | 1.9 | 2.3 | | Debt-to-asset ratio (%) | 5.5 | 4.5 | | Debt-to-equity ratio (%) | Not applicable | Not applicable | | Return on equity (%) | (41.8) | (35.4) | | Return on total assets (%) | (21.3) | (20.9) | | Interest coverage ratio (times) | (64.4) | (104.4) | - Both the current ratio and quick ratio decreased from **2.3 times** to **1.9 times**, indicating weakened liquidity[72](index=72&type=chunk)[73](index=73&type=chunk) - The debt-to-asset ratio increased from **4.5%** to **5.5%**, indicating an increased proportion of debt to total equity[72](index=72&type=chunk)[74](index=74&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=30&type=section&id=Liquidity,%20Financial%20Resources%20and%20Capital%20Structure) [Financial Policy](index=30&type=section&id=Financial%20Policy) The Group has adopted a prudent financial management policy aimed at ensuring proper fund recovery and allocation, maintaining sufficient funds to meet commitments, preserving adequate liquidity for operating expenses, and streamlining operational processes to save costs - The Group has adopted a prudent financial management policy to ensure proper and effective recovery and allocation of funds, maintain sufficient funds to meet capital commitments, preserve adequate liquidity to cover operating cash flows, project expenditures, and administrative expenses, and streamline operational processes to save construction-related costs[75](index=75&type=chunk) - The Board closely monitors the Group's liquidity position to ensure that the liquidity structure of assets, liabilities, and other commitments can meet its funding needs[75](index=75&type=chunk) [Dividends](index=30&type=section&id=Dividends_Liquidity) The Board does not recommend the payment of a final dividend for the fiscal year - The Board does not recommend the payment of a final dividend for the fiscal year (2024: nil)[76](index=76&type=chunk) [Capital and Reserves](index=30&type=section&id=Capital%20and%20Reserves) As of June 30, 2025, the Company's issued share capital was **5.3 million Ringgit**, with total equity of approximately **80.7 million Ringgit**, primarily comprising share capital and reserves; the Group's cash and cash equivalents were approximately **25.2 million Ringgit**, and total lease liabilities and bank borrowings were approximately **4.1 million Ringgit** - The Company's issued share capital is **5.3 million Ringgit**, with **1,000,000,000** ordinary shares in issue[77](index=77&type=chunk) Cash and Borrowings Situation | Item | 2025 (million Ringgit) | 2024 (million Ringgit) | | :--- | :--- | :--- | | Pledged fixed deposits | 6.8 | 6.6 | | Cash and cash equivalents | 25.2 | 28.9 | | Lease liabilities | 1.1 | 0.8 | | Bank and other borrowings | 3.0 | 4.0 | - Total equity attributable to owners of the Company was approximately **80.7 million Ringgit** (2024: **110.9 million Ringgit**), primarily comprising share capital and reserves[77](index=77&type=chunk) [Other Information](index=31&type=section&id=Other%20Information) [Significant Investments, Acquisitions or Disposals of Subsidiaries and Associates](index=31&type=section&id=Significant%20Investments,%20Acquisitions%20or%20Disposals) Except for the property disposal disclosed in this announcement, the Group had no other significant investments, acquisitions, or disposals of subsidiaries and associates during the fiscal year - Save as disclosed in this announcement, the Group had no significant investments, significant acquisitions or disposals of subsidiaries and associates during the fiscal year[78](index=78&type=chunk) [Capital Commitments](index=31&type=section&id=Capital%20Commitments) As of June 30, 2025 and 2024, the Group had no significant capital commitments - As of June 30, 2025 and 2024, the Group had no significant capital commitments[79](index=79&type=chunk) [Discloseable Transaction - Disposal of Property](index=31&type=section&id=Discloseable%20Transaction%20-%20Disposal%20of%20Property) In April 2025, the Group disposed of certain freehold land in Johor, Malaysia, for a total consideration of approximately **11.46 million Ringgit**; this transaction constituted a discloseable transaction but was not timely reported and announced due to management oversight, resulting in non-compliance with the Listing Rules - In April 2025, the Group disposed of certain freehold land in Johor, Malaysia, for a total consideration of approximately **11.46 million Ringgit**[80](index=80&type=chunk) - This disposal constituted a discloseable transaction, but due to unintentional oversight by management, it was not reported and announced in a timely manner, constituting non-compliance with Chapter 14 of the Listing Rules[80](index=80&type=chunk) [Pledge of Assets](index=31&type=section&id=Pledge%20of%20Assets) As of June 30, 2025, certain freehold land, right-of-use assets for leasehold land and buildings, and fixed deposits of the Group were pledged as security for bank financing - As of June 30, 2025, certain freehold land with a net book value of **4.7 million Ringgit**, right-of-use assets for certain leasehold land and buildings with a total net book value of approximately **1.6 million Ringgit**, and fixed deposits of approximately **6.8 million Ringgit** were pledged as security for bank financing granted to the Group[81](index=81&type=chunk) [Future Plans for Material Investments and Capital Assets](index=31&type=section&id=Future%20Plans%20for%20Material%20Investments%20and%20Capital%20Assets) Except as disclosed in this announcement, the Group has no specific plans for any material investments or capital assets in the coming year - Save as disclosed in this announcement, the Group has no specific plans for any material investments or capital assets in the coming year[82](index=82&type=chunk) [Contingent Liabilities](index=31&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no significant contingent liabilities or pending litigations - As of June 30, 2025, the Group had no significant contingent liabilities or pending litigations[83](index=83&type=chunk) [Post-Reporting Period Event - Issuance of Promissory Notes](index=31&type=section&id=Post-Reporting%20Period%20Event%20-%20Issuance%20of%20Promissory%20Notes) On July 8, 2025, the Company's direct wholly-owned subsidiary entered into an agreement with an independent third party for the issuance of promissory notes with a total principal amount of up to **9.5 million USD**, which was fully completed in August 2025 - On July 8, 2025, the Company's direct wholly-owned subsidiary entered into an agreement with an independent third-party subscriber for the issuance of promissory notes with a total principal amount of up to **9.5 million USD**[84](index=84&type=chunk) - The notes are secured by a charge over the entire issued share capital of TBKS Holding Sdn. Bhd., an indirect wholly-owned subsidiary held by the Company through the issuer, and the subscription was fully completed in August 2025[84](index=84&type=chunk) [Other Corporate Information](index=32&type=section&id=Other%20Corporate%20Information) [Pledge of Shares](index=32&type=section&id=Pledge%20of%20Shares) A total of **600,000,000** shares held by TBKS International were pledged to an independent third party on September 28, 2021, as collateral for a loan facility of **180,000,000 HKD** provided to TBKS International, representing **60%** of the Company's issued share capital - A total of **600,000,000** shares held by TBKS International were pledged to an independent third party on September 28, 2021, as collateral for a loan facility of **180,000,000 HKD** provided to TBKS International[85](index=85&type=chunk) - The pledged shares represent **60%** of the Company's issued share capital as of the date of this announcement[85](index=85&type=chunk) [Foreign Currency Risk](index=32&type=section&id=Foreign%20Currency%20Risk) The Group primarily operates in Malaysia, and fluctuations in the value of the Malaysian Ringgit against other currencies may adversely affect the Group's business, financial condition, and operating results; management will monitor foreign currency risk and consider hedging activities - The Group primarily operates in Malaysia, and fluctuations in the value of the Malaysian Ringgit against other currencies will generate foreign currency exchange gains or losses and may adversely affect the Group's business, financial condition, and operating results[86](index=86&type=chunk) - Management will monitor the Group's foreign currency risk and will consider undertaking foreign exchange hedging activities to mitigate the impact of foreign currency exchange rate movements[86](index=86&type=chunk) - The Group did not use any derivative financial instruments during the fiscal year[86](index=86&type=chunk) [Employees and Remuneration Policy](index=32&type=section&id=Employees%20and%20Remuneration%20Policy) As of June 30, 2025, the Group had **460** employees; the Group values human capital management, providing continuous training and competitive remuneration packages including basic salaries, discretionary bonuses, and allowances, with total employee costs for the fiscal year amounting to approximately **26.7 million Ringgit** - As of June 30, 2025, the Group had **460** employees (2024: **513** employees)[87](index=87&type=chunk) - The Group provides employees with induction training programs, continuous training and development, and competitive remuneration packages including basic salaries, discretionary bonuses, and allowances[87](index=87&type=chunk) - For the fiscal year, the Group's employee costs (including directors' remuneration) were approximately **26.7 million Ringgit** (2024: **30.0 million Ringgit**)[87](index=87&type=chunk) [Comparison of Business Objectives and Strategies with Actual Business Progress](index=32&type=section&id=Comparison%20of%20Business%20Objectives%20and%20Strategies%20with%20Actual%20Business%20Progress) The Group's business objectives and strategies include reserving funds, expanding the workforce, acquiring machinery, funding upfront expenses for new projects, acquiring businesses, reserving working capital, expanding petroleum trading, and seeking future investment opportunities; as of June 30, 2025, most of the net proceeds have been utilized, with the remaining **5.0 million HKD** to be used for general working capital and fully utilized by June 30, 2026 - The Group's business objectives and strategies include reserving funds to meet performance bond requirements, expanding the workforce, acquiring machinery, funding upfront expenses for new projects, acquiring businesses, reserving for working capital purposes, expanding and developing the petroleum trading business, and seeking future investment opportunities[88](index=88&type=chunk)[89](index=89&type=chunk) Use of Net Proceeds and Progress | Item | Original Allocation (million HKD) | Revised Allocation (million HKD) | Utilized as of June 30, 2024 (million HKD) | Utilized in Current Fiscal Year (million HKD) | Unutilized as of June 30, 2025 (million HKD) | | :--- | :--- | :--- | :--- | :--- | :--- | | Performance bonds | 8.9 | (8.9) | – | – | – | | Workforce expansion | 13.4 | (13.4) | – | – | – | | Machinery acquisition | 17.8 | (17.8) | – | – | – | | Upfront expenses for new projects | 26.7 | (14.8) | (11.9) | – | – | | Business acquisitions | 13.4 | (13.4) | – | – | – | | Working capital | 4.8 | 24.1 | (16.9) | (7.0) | 5.0 | | Petroleum trading business | – | 40.0 | (40.0) | – | – | | Future investment opportunities | – | 4.2 | (4.2) | – | – | | **Total** | **85.0** | **–** | **(73.0)** | **(7.0)** | **5.0** | - As of June 30, 2025, the unutilized net proceeds were approximately **5.0 million HKD**, which will be used for general working capital and fully utilized by June 30, 2026[90](index=90&type=chunk)[91](index=91&type=chunk) - The reasons for changing the use of proceeds include the impact of the pandemic, geopolitical tensions, inflation, and high interest rates on global economic activity, as well as the weak real estate market in China, leading the Group to adopt a cautious approach for more effective allocation of financial resources[92](index=92&type=chunk) [Share Option Scheme](index=35&type=section&id=Share%20Option%20Scheme) The Company has adopted a share option scheme to incentivize and reward eligible persons; as of June 30, 2025, **10,000,000** share options remained unexercised with an exercise price of **0.35 HKD** per share, valid until May 11, 2026, and no share options were granted, exercised, cancelled, or lapsed during the fiscal year - The share option scheme aims to grant share options to employees, suppliers, customers, technical support personnel, shareholders, or other participants as incentives or rewards[93](index=93&type=chunk) - On May 12, 2021, the Company granted a total of **10,000,000** share options to two eligible persons, with an exercise price of **0.35 HKD** per share, valid until May 11, 2026[94](index=94&type=chunk) - As of June 30, 2025, the total number of securities available for issue under the share option scheme was **90,000,000** shares, representing **9%** of the issued share capital, with no changes in share options during the fiscal year[94](index=94&type=chunk) [Directors' Rights to Acquire Shares or Debentures](index=36&type=section&id=Directors'%20Rights%20to%20Acquire%20Shares%20or%20Debentures) Save for the share option scheme, no arrangements were entered into by the Company or its subsidiaries during the fiscal year that would enable directors to acquire benefits by acquiring shares or debentures of the Company or any other body corporate - Save for the share option scheme, no arrangements were entered into by the Company or its subsidiaries during the fiscal year that would enable directors to acquire benefits by acquiring shares or debentures of the Company or any other body corporate[96](index=96&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=37&type=section&id=Purchase,%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) During the fiscal year, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - During the fiscal year, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[97](index=97&type=chunk) [Directors' Securities Transactions](index=37&type=section&id=Directors'%20Securities%20Transactions) The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules, and all Directors have confirmed compliance with its requirements throughout the fiscal year - The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules[98](index=98&type=chunk) - Following specific enquiries made to the Directors, all Directors have confirmed their compliance with the requirements of the Model Code throughout the fiscal year[98](index=98&type=chunk) [Corporate Governance](index=37&type=section&id=Corporate%20Governance) The Company is committed to implementing good corporate governance, has adopted the Corporate Governance Code as set out in Appendix C1 of the Listing Rules, and has complied with the applicable code throughout the fiscal year - The Company is committed to fulfilling its responsibilities to shareholders by safeguarding and enhancing shareholder value through good corporate governance[99](index=99&type=chunk) - The Company has adopted the Corporate Governance Code as set out in Appendix C1 of the Listing Rules and has complied with the applicable Corporate Governance Code throughout the fiscal year[99](index=99&type=chunk) [Audit Committee](index=37&type=section&id=Audit%20Committee) The Audit Committee, comprising three independent non-executive directors with Mr. Chu Ho Tin as Chairman, has reviewed the audited consolidated financial statements for the year ended June 30, 2025, and found them to be in compliance with applicable accounting standards and requirements - The Audit Committee was established on September 5, 2019, and comprises three independent non-executive directors, with Mr. Chu Ho Tin as Chairman[100](index=100&type=chunk) - The Audit Committee has reviewed the audited consolidated financial statements for the year ended June 30, 2025, and is of the opinion that the results were prepared in accordance with applicable accounting standards and requirements and the Listing Rules, and that adequate disclosures have been made[100](index=100&type=chunk) [Auditor's Scope of Work](index=38&type=section&id=Auditor's%20Scope%20of%20Work) The Company's auditor, Kuan & Co. (Hong Kong) CPA Limited, has agreed to the consolidated financial statement data contained in the preliminary announcement, but its work does not constitute an assurance engagement, and therefore no opinion or assurance conclusion is issued on the preliminary announcement - The Company's auditor, Kuan & Co. (Hong Kong) CPA Limited, has agreed to the data in the consolidated statement of financial position, consolidated statement of profit or loss and other comprehensive income, and related notes for the Group for the year ended June 30, 2025, as contained in the preliminary announcement[101](index=101&type=chunk) - The work performed by the auditor in this regard does not constitute an assurance engagement, and therefore no opinion or assurance conclusion is issued on this preliminary announcement[101](index=101&type=chunk) [Publication on Company and HKEX Websites](index=38&type=section&id=Publication%20on%20Company%20and%20HKEX%20Websites) This annual results announcement has been published on the Company's website and the HKEX website; the Company's annual report for the year ended June 30, 2025, will be dispatched to shareholders in due course and will be available on the same websites - This annual results announcement has been published on the Company's website (www.tbkssb.com.my) and the HKEX website (www.hkexnews.hk)[102](index=102&type=chunk) - The Company's annual report for the year ended June 30, 2025, will be dispatched to shareholders in due course and will be available on the same websites[102](index=102&type=chunk)
TBKS HLDGS附属拟1146.24万令吉出售马来西亚柔佛州一物业
Zhi Tong Cai Jing· 2025-09-18 10:47
公司为一间投资控股公司,其附属公司主要于马来西亚及中国从事提供土木及结构工程及于中国从事石 油及相关产品贸易。经计及集团的现时财务状况及预期流动资金需求,以及马来西亚物业市场的前景, 董事认为,出售事项为公司以合理价格变现该物业(于出售时点处于空置)价值的良机,并且出售事项的 所得款项可产生额外营运资金,从而提升集团的财务状况及增强流动性。董事会(包括独立非执行董事) 认为,出售事项的条款及条件按一般商业条款订立,属公平合理并符合公司及其股东的整体利益。 TBKS HLDGS(01960)发布公告,于2025年4月24日,卖方Tan Bock Kwee&Sons Sdn.Bhd.(公司的间接全 资附属公司)与买方Zhongya Holdings(Malasia)Sdn.Bhd.订立协议,据此卖方已同意出售及买方已同意购 买该物业,总代价为1146.24万令吉。于本公告日期,出售事项已于2025年8月25日完成,以及全部代价 已根据协议由买方支付予卖方。 集团透过卖方持有该物业的全部权益,该物业位于马来西亚柔佛州,由四幅永久业权空置的轻工业用途 的土地组成,总面积约为12101平方米。该物业先前已抵押予一家马来 ...
TBKS HLDGS(01960)附属拟1146.24万令吉出售马来西亚柔佛州一物业
智通财经网· 2025-09-18 10:44
Group 1 - TBKS HLDGS has agreed to sell a property for a total consideration of 11.4624 million Malaysian Ringgit, with the transaction completed on August 25, 2025 [1] - The property consists of four parcels of vacant land designated for light industrial use, covering a total area of approximately 12,101 square meters located in Johor, Malaysia [1] - The property was previously mortgaged to a Malaysian bank, which has released the mortgage as a condition for the sale, with 1 million Ringgit set aside from the proceeds as collateral for the seller's bank financing [1] Group 2 - The company is an investment holding firm with subsidiaries primarily engaged in civil and structural engineering in Malaysia and China, as well as trading of oil and related products in China [2] - The board believes that the sale represents a good opportunity to realize the value of the vacant property at a reasonable price, enhancing the company's financial position and liquidity [2] - The terms and conditions of the sale are considered fair and reasonable, aligning with the overall interests of the company and its shareholders [2]
TBKS HLDGS(01960.HK)完成出售马来西亚柔佛州物业
Ge Long Hui· 2025-09-18 10:37
Core Viewpoint - TBKS HLDGS has agreed to sell a property in Johor, Malaysia for a total consideration of 11.462 million MYR, with the transaction completed on August 25, 2025 [1] Group 1 - The seller, Tan Bock Kwee & Sons Sdn. Bhd, is a wholly-owned subsidiary of the company [1] - The buyer is Zhongya Holdings (Malasia) Sdn. Bhd [1] - The agreement was signed on April 24, 2025, and the full payment was made by the buyer as per the agreement [1]
TBKS HLDGS(01960) - 须予披露交易出售物业未能遵守上市规则
2025-09-18 10:31
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之內容概不負責,對其準確性或 完整性亦不發表任何聲明,並明確表示,概不就因本公告全部或任何部份內容而產生或因依賴該 等內容而引致之任何損失承擔任何責任。 由於有關出售事項的一項或多項適用百分比率(定義見上市規則第14.07條)超過5%但低於 25%,故出售事項構成本公司之須予披露交易,因此須遵守上市規則第14章項下之通知及公告 規定。 TBK & Sons Holdings Limited (於開曼群島註冊成立之有限公司) (股份代號:1960) 須予披露交易 出售物業 未能遵守上市規則 出售事項 於二零二五年四月二十四日,賣方(本公司之間接全資附屬公司)與買方訂立協議,據此賣方 已同意出售及買方已同意購買該物業,總代價為11,462,363.44令吉(相當於約20,205,281.15港 元)。於本公告日期,出售事項已於二零二五年八月二十五日完成,以及全部代價已根據協議由 買方支付予賣方。 上市規則之涵義 未能遵守上市規則 根據上市規則第14章,出售事項構成一項須予披露交易。因管理層無意疏忽,本公司未能報告 及公告出售事項。因此,出售事項構成未能遵守上 ...
TBKS HLDGS(01960.HK)拟9月29日举行董事会会议以审批年度业绩
Ge Long Hui· 2025-09-16 10:17
Group 1 - The company TBKS HLDGS (01960.HK) announced that it will hold a board meeting on September 29, 2025, to approve the annual performance for the year ending June 30, 2025, and to consider the distribution of a final dividend, if any [1]
TBKS HLDGS(01960) - 董事会会议召开日期
2025-09-16 10:04
TBK & Sons Holdings Limited(「本公司」)之董事(「董事」)會(「董事會」)謹此宣佈, 本公司將於二零二五年九月二十九日(星期一)舉行董事會會議,藉以(其中包括) 批准本公司及其附屬公司截至二零二五年六月三十日止的年度業績,以及考慮派發 末期股息(如有)。 承董事會命 TBK & Sons Holdings Limited 主席 Tan Hun Tiong 香港,二零二五年九月十六日 於本公告日期,董事會包括執行董事 Tan Hun Tiong 先生、Tan Han Peng 先生、唐志 明先生及陳達先生;非執行董事 Venny 女士;以及獨立非執行董事朱浩天先生、吳映 吉先生及黃思樂先生。 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之內容概不負責, 對其準確性或完整性亦不發表任何聲明,並明確表示概不會就因本公佈全部或任何 部分內容而產生或因倚賴該等內容而引起之任何損失承擔任何責任。 TBK & Sons Holdings Limited (於開曼群島註冊成立之有限公司) (股份代號:1960) 董事會會議召開日期 ...
TBKS HLDGS(01960) - 月报表截至31/08/2025
2025-09-02 09:18
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8月31日 狀態: 新提交 致:香港交易及結算所有限公司 公司名稱: TBK & Sons Holdings Limited 呈交日期: 2025年9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) | 01960 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100 ...