Financial Performance - For the six months ending December 31, 2024, the company reported revenue of 44,193 thousand Ringgit, a decrease of 31.7% compared to 64,699 thousand Ringgit for the same period in 2023[2]. - The cost of sales for the same period was 40,270 thousand Ringgit, resulting in a gross profit of 3,923 thousand Ringgit, compared to a gross profit of 2,632 thousand Ringgit in the previous year[2]. - The company incurred a net loss of 6,800 thousand Ringgit for the current period, compared to a net loss of 10,566 thousand Ringgit in the previous year, indicating an improvement of 35.5%[3]. - The basic loss per share for the current period was 0.62 Ringgit, an improvement from 1.01 Ringgit in the previous year[3]. - The total comprehensive loss for the period was (8,808) thousand Ringgit, compared to (9,882) thousand Ringgit in the previous year, indicating a reduction of 10.8%[3]. - The group reported a loss before tax of 6,796 thousand MYR, indicating challenges in operational efficiency[18]. - The group reported a net loss before tax of 10,563 thousand MYR for the six months ended December 31, 2023[19]. - The group experienced a loss attributable to shareholders of approximately RM6.2 million, an improvement from RM10.1 million in the previous year, primarily due to increased gross profit in Malaysia[57]. Expenses and Cost Management - Administrative expenses amounted to 9,126 thousand Ringgit, down from 10,403 thousand Ringgit, reflecting a reduction of 12.3%[2]. - The group incurred an administrative expense of 9,126 thousand MYR, impacting overall profitability[18]. - The company reported a decrease in selling and distribution expenses to (225) thousand Ringgit from (450) thousand Ringgit, a reduction of 50%[2]. - Employee benefits expenses for the six months ending December 31, 2024, are reported at 14,128 thousand Ringgit, a decrease from 15,124 thousand Ringgit in 2023[31]. - Selling and distribution expenses were approximately 0.2 million MYR, down from 0.5 million MYR in 2023, primarily due to reduced employee and related expenses[89]. - The depreciation expense for property, plant, and equipment in the operational segment was 521 thousand MYR for the six months ended December 31, 2023[20]. Assets and Liabilities - As of December 31, 2024, total assets amounted to 172,757 thousand, an increase from 165,712 thousand[5]. - Current liabilities decreased to 84,563 thousand from 92,400 thousand, indicating improved liquidity[5]. - Total equity increased to 98,424 thousand from 107,232 thousand, reflecting a positive trend in shareholder value[6]. - The company’s total liabilities decreased to 99,061 thousand from 108,207 thousand, reflecting a decrease in overall debt[5]. - The company’s non-current liabilities decreased to 637 thousand from 975 thousand, suggesting reduced long-term debt obligations[6]. - The trade receivables as of December 31, 2024, amounted to 76,945 thousand Ringgit, a slight increase from 75,238 thousand Ringgit as of June 30, 2024[40]. - The total trade receivables after deducting impairment losses stood at 53,958 thousand Ringgit as of December 31, 2024, compared to 52,123 thousand Ringgit previously[40]. Revenue Sources and Market Focus - The company’s revenue from operations in Malaysia and China remains a key focus area for growth and expansion[9]. - The group reported total revenue of 44,193 thousand MYR for the six months ended December 31, 2024, with external customer revenue from civil engineering projects contributing 35,011 thousand MYR[18]. - Revenue from civil engineering projects in Malaysia increased from RM28.8 million to RM35.0 million, representing a growth of approximately 21.8%[62]. - Revenue from civil and structural engineering in Malaysia increased by approximately 13.6% from RM31.8 million to RM36.1 million[60]. - Revenue from civil and structural engineering in China decreased from RM27.6 million to RM8.1 million, with a gross profit decline from RM0.8 million to RM0.2 million, resulting in a gross margin of approximately 2.4%[55]. - The group recorded no revenue from oil and related products trading in China during the period, down from RM5.3 million in the previous year[56]. Strategic Initiatives and Future Plans - The company is focusing on improving operational efficiency and reducing costs to enhance profitability in future periods[2]. - The company plans to explore strategic acquisitions to bolster its market presence in the region[9]. - The group aims to diversify its business and explore new projects and investment opportunities, including energy-related processing and logistics[76]. - The company plans to continue expanding its market presence and exploring new strategies for growth in the upcoming fiscal year[19]. - The company is actively engaged in research and development of new technologies to enhance its service offerings[9]. - The company is focusing on improving cash flow and financial stability by slowing down new project negotiations and concentrating on trade receivables and contract asset collection[69]. Taxation and Compliance - The corporate income tax rate for subsidiaries in Malaysia is set at 24%, with no tax provisions due to lack of taxable profits as of December 31, 2024[34]. - The corporate income tax for the subsidiary in Hainan is at a preferential rate of 15% from January 1, 2020, to December 31, 2024[35]. - Several Chinese subsidiaries qualify as small and micro enterprises, benefiting from a reduced tax rate of 12.5% on taxable income up to 1 million RMB[36]. - The group’s income tax expense for the period was approximately 4,000 MYR, an increase from 3,000 MYR in 2023, primarily due to a decrease in overall revenue and profit[95]. Corporate Governance and Compliance - The company has adopted corporate governance standards and has complied with all applicable corporate governance codes during the reporting period[123]. - The audit committee, consisting of three independent non-executive directors, has reviewed and approved the interim financial results for the period[125]. - The interim results announcement will be published on the company's and the stock exchange's websites, with the interim report for the six months ending December 31, 2024, to be sent to shareholders in due course[126].

Financial Performance - The group's revenue for the fiscal year ending June 30, 2024, decreased by approximately 79.8 million MYR or 21.7% to about 288.1 million MYR from approximately 367.9 million MYR in the previous fiscal year[7]. - The group recorded a loss attributable to shareholders of approximately 32.7 million MYR, compared to a loss of 8.7 million MYR in the previous fiscal year[12]. - The expected credit loss for trade receivables, contract assets, and other receivables amounted to approximately RM 22.1 million for the fiscal year, a significant increase from RM 1.7 million in 2023[56]. - Current ratio decreased to 2.3 in 2024 from 3.4 in 2023, indicating a decline in liquidity[62]. - The quick ratio also decreased to 2.3 in 2024 from 3.0 in 2023, reflecting a similar trend in short-term financial health[62]. - Total equity attributable to owners was approximately RM 110.9 million in 2024, down from RM 143.0 million in 2023[72]. - The company reported a loss attributable to owners of approximately RM 32.7 million for the fiscal year, compared to RM 8.7 million in 2023, with a loss per share of RM 0.0327[62]. Revenue Breakdown - Revenue from civil and structural engineering in Malaysia increased from approximately 50.9 million MYR to about 56.0 million MYR, with a gross profit rising from approximately 2.0 million MYR to about 3.6 million MYR, resulting in a gross margin of approximately 6.4% compared to 3.9% in the previous year[8]. - Revenue from civil and structural engineering in China increased from approximately 40.8 million MYR to about 52.5 million MYR, but gross profit decreased from approximately 3.9 million MYR to about 0.8 million MYR, leading to a gross margin of approximately 1.5% compared to 9.6% in the previous year[10]. - Revenue from oil and related products trade in China decreased significantly by 35.0% from approximately 276.2 million MYR to about 179.6 million MYR for the fiscal year[11]. - Revenue from site preparation projects rose from approximately 0.5 million MYR to about 2.9 million MYR, primarily due to the completion of project 53[21]. - Revenue from civil engineering projects increased by approximately 17.4% from about 43.9 million MYR to approximately 51.5 million MYR, driven by the completion of four projects[22]. - Revenue from construction projects decreased from approximately 6.6 million MYR to about 1.5 million MYR, mainly due to the completion of two projects in the previous year[24]. Challenges and Market Conditions - The group faced significant challenges in Malaysia due to insufficient new projects, rising material costs, and narrowing profit margins, attributed to intense bidding competition and unrealistic pricing targets set by project owners[8]. - In China, the economic environment remained challenging, with prolonged payment terms and increased credit losses on trade receivables and contract assets, which rose by approximately 19.3 million MYR compared to the previous year[10]. - The overall performance of the group was adversely affected by geopolitical tensions, inflationary pressures, and a sluggish property market in China[6]. - The company maintains a cautious approach in light of challenging market conditions and geopolitical tensions, actively seeking new projects and diversifying its business[14]. Strategic Focus and Future Plans - The group is closely monitoring economic conditions and adjusting business strategies as necessary to respond to changing market conditions and improve business performance[6]. - The group is focusing on completing existing projects in China and improving cash flow and financial stability through better communication with clients regarding project timelines and payment processes[10]. - The company plans to allocate approximately 6.2 million HKD for pre-project expenses and 5.8 million HKD for future investment opportunities, expected to be fully utilized by June 30, 2025[97]. - Future investment opportunities include sectors such as petrochemicals, mineral resources, and oil logistics[95]. - The group aims to expand its workforce, including hiring project directors, managers, and engineers, to meet business goals[92]. Corporate Governance - The company has adopted a board diversity policy to ensure a balanced approach in selecting candidates based on gender, age, cultural and educational background, professional qualifications, skills, knowledge, and industry experience[132]. - The board consists of four executive directors, one non-executive director, and three independent non-executive directors, providing a diverse perspective aligned with the company's business needs[132]. - The company has established three board committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, with specific written terms of reference available on the stock exchange and the company's website[126]. - The board has confirmed compliance with the corporate governance code throughout the fiscal year, with regular reviews to adapt to changing standards[123]. - The company emphasizes maintaining ethical and responsible practices as a core value, with all directors acting with integrity and promoting the desired culture[122]. Risk Management - The company has implemented a risk management policy to address various potential risks, including operational and environmental, social, and governance risks[173]. - The company has conducted a review of its risk management and internal control systems, deeming them effective and sufficient[175]. - The company has taken additional internal control measures to ensure compliance with applicable laws and regulations[174]. Shareholder Communication - The company is committed to effective communication with shareholders and stakeholders, providing accessible information through its website[186]. - The company held its annual general meeting on December 15, 2023, allowing shareholders to communicate directly with the board[187]. - The company has established a communication policy to facilitate effective engagement with shareholders and encourage their participation[186].

Financial Performance - For the fiscal year ending June 30, 2024, total revenue was 288,093 thousand MYR, a decrease from 367,940 thousand MYR in the previous year, representing a decline of approximately 21.7%[1] - Gross profit for the fiscal year was 4,887 thousand MYR, down from 14,224 thousand MYR, indicating a significant drop of about 65.6%[1] - The net loss for the year was 37,906 thousand MYR, compared to a net loss of 8,525 thousand MYR in the previous year, reflecting an increase in losses of approximately 344.5%[2] - Total comprehensive loss for the year amounted to 37,234 thousand MYR, compared to 8,373 thousand MYR in the prior year, marking an increase of about 345.5%[2] - The basic and diluted loss per share was reported at 3.27 sen, compared to 0.87 sen in the previous year, representing a significant increase in loss per share[2] - The company reported a net loss before tax of 37,829 thousand RM for the year ending June 30, 2024, highlighting challenges in operational efficiency[21] - The company recorded a pre-tax loss of 21,244 thousand Ringgit for the year ending June 30, 2024, compared to a pre-tax loss of 3,013 thousand Ringgit for the previous year, indicating a significant increase in losses[31] - The company recorded a loss attributable to shareholders of approximately 32.7 million MYR for the current fiscal year, compared to 8.7 million MYR in the previous year[49] Revenue Breakdown - Total revenue for the year ending June 30, 2024, was 288,093 thousand RM, with significant contributions from oil and related products trading at 179,640 thousand RM[21] - Revenue from external customers for the year ending June 30, 2023, was 367,940 thousand RM, with oil and related products contributing 276,246 thousand RM[21] - Revenue from civil and structural engineering projects in China increased from approximately 40.8 million MYR to about 52.5 million MYR, representing a growth of 28.0%[47] - Revenue from civil and structural engineering in Malaysia increased from approximately 50.9 million MYR to about 56.0 million MYR, while gross profit rose from approximately 2.0 million MYR to about 3.6 million MYR, with gross margins of approximately 6.4% and 3.9% respectively[46] - Revenue from oil and related products trade in China decreased by 35.0% from approximately 276.2 million MYR to about 179.6 million MYR[48] Assets and Liabilities - Current assets totaled 165,712 thousand MYR, a decrease from 179,150 thousand MYR, representing a decline of approximately 7.5%[4] - Current liabilities increased to 73,312 thousand MYR from 52,007 thousand MYR, indicating a rise of about 40.9%[4] - The company's cash and cash equivalents decreased to 28,858 thousand MYR from 45,928 thousand MYR, a decline of approximately 37.2%[4] - Non-current assets were reported at 15,807 thousand MYR, down from 18,552 thousand MYR, reflecting a decrease of about 14.8%[3] - The company's equity attributable to owners was 110,919 thousand MYR, a decrease from 143,014 thousand MYR, indicating a decline of approximately 22.4%[5] - The group’s total liabilities increased to 67,964 million MYR in 2024 from 36,271 million MYR in 2023, reflecting a significant rise of 87.5%[42] Impairment and Credit Losses - The company recorded a trade receivables and contract assets impairment loss of 21,277 thousand Ringgit for the year ending June 30, 2024, compared to 3,548 thousand Ringgit in the previous year, representing a substantial increase in impairment losses[31] - The expected credit loss for trade receivables, contract assets, and other receivables was recognized at approximately 22.1 million MYR, significantly up from 1.7 million MYR in the previous year[77] - The provision for expected credit losses as of June 30, 2024, included approximately 23.0 million MYR for trade receivables, compared to 3.3 million MYR in the previous year, indicating increased credit risk due to delayed customer payments[77] Operational Challenges - The group faced challenges in securing new projects and rising material costs, impacting overall performance in Malaysia[46] - The company has experienced a notable increase in revenue from civil engineering projects, with external customer revenue reaching 51,522 thousand RM for the year ending June 30, 2024[21] - The company is focused on enhancing its market presence in Malaysia and China, particularly in civil and structural engineering sectors[19] - The company faces challenges in Malaysia due to rising material costs and a shrinking market share, leading to intensified bidding processes[63] Future Outlook and Strategies - The company plans to apply the new International Financial Reporting Standards (IFRS) amendments starting from January 1, 2024, which will not have a significant impact on the consolidated financial statements[13] - The company plans to diversify its business by reviewing existing operations and exploring new investment opportunities, including energy-related processing and logistics[62] - The company is taking a cautious approach to its operational and investment strategies due to the complex business environment influenced by geopolitical tensions and inflation pressures[100] - The group plans to closely monitor economic conditions and adjust business strategies as necessary to improve performance[45] Corporate Governance and Compliance - The company is committed to good corporate governance to enhance shareholder value and has adhered to applicable corporate governance codes during the financial year[105] - The audit committee, consisting of three independent non-executive directors, reviewed the consolidated financial statements for the year ending June 30, 2024[106] - The financial statements have been prepared in accordance with applicable accounting standards and regulations, ensuring adequate disclosure[106] Employee and Workforce Management - Employee costs totaled 30,032 thousand Ringgit for the year ending June 30, 2024, up from 28,014 thousand Ringgit in the previous year, reflecting a year-over-year increase of approximately 7.2%[31] - The group has 513 employees as of June 30, 2024, compared to 510 employees in 2023[95] - The group intends to expand its workforce, including hiring project managers and quality control engineers[97] Shareholder Information - The company did not recommend any dividends for the year ending June 30, 2024, consistent with the previous year[36] - The group has not proposed any final dividend for the fiscal year, consistent with the previous year[86]

Financial Performance - Total revenue for the six months ended December 31, 2023, was RM 64.699 million, a decrease from RM 301.962 million in the same period last year[25]. - Gross profit for the period was RM 2.632 million, down from RM 12.240 million year-over-year[25]. - The net loss for the period was RM 10.566 million, compared to a profit of RM 4.660 million in the previous year[25]. - Administrative expenses increased to RM 10.403 million from RM 9.853 million year-over-year[25]. - The company reported a decrease in other income and gains, which fell to RM (182) million from RM 2.480 million in the previous year[25]. - The cost of sales for the period was RM (62.067) million, down from RM (289.722) million year-over-year[25]. - Total comprehensive loss for the period was (9,882) thousand MYR, compared to a profit of 860 thousand MYR in the same period of 2022[62]. - Basic and diluted loss per share was (1.01) sen, compared to earnings of 0.24 sen in the previous year[62]. - The earnings attributable to the company's owners showed a loss of approximately 10.1 million MYR, compared to a profit of about 2.4 million MYR in the previous period[192]. Cash Flow and Liquidity - Net cash used in operating activities for the six months ended December 31, 2023, was (7,888) thousand MYR, an improvement from (25,785) thousand MYR in the same period of 2022[44]. - Cash and cash equivalents decreased by (10,633) thousand MYR, compared to a decrease of (27,412) thousand MYR in the previous year[54]. - Cash generated from financing activities was (2,709) thousand MYR, down from (3,691) thousand MYR in the previous year[44]. - The company reported a net cash outflow from investing activities of (36) thousand MYR, a significant decrease from cash inflow of 2,064 thousand MYR in the same period of 2022[44]. - The company’s cash and cash equivalents at the end of the period were 35,581 thousand MYR, down from 45,370 thousand MYR in the previous year[54]. Assets and Liabilities - The company's total assets amounted to 181,636 thousand MYR, compared to 179,150 thousand MYR as of June 30, 2023[68]. - Trade and other payables increased to 46,807 thousand MYR from 36,271 thousand MYR in the previous period[69]. - The company’s non-current assets decreased to 16,723 thousand MYR from 18,552 thousand MYR[67]. - The group reported a net asset value of 134,584,000 MYR as of December 31, 2023, compared to 144,466,000 MYR as of June 30, 2023, indicating a decrease of approximately 6%[98]. - Total trade payables amounted to 39,318,000 MYR as of December 31, 2023, up from 27,654,000 MYR as of June 30, 2023, reflecting an increase of about 42%[146]. - The aging analysis of trade payables shows that 30 days overdue payables were 23,481,000 MYR as of December 31, 2023, compared to 11,600,000 MYR as of June 30, 2023, indicating a significant increase in overdue amounts[153]. Segment Performance - The group has five reportable segments, including civil and structural engineering, and oil and related products trading, which are monitored separately for performance evaluation[108]. - Revenue from civil and structural engineering in Malaysia increased by approximately 36.5% from about 23.3 million MYR to approximately 31.8 million MYR during the period[200]. - The contribution of civil and structural engineering and oil-related product trade to total revenue was approximately 91.8% and 8.2%, respectively, compared to 13.1% and 86.9% in the previous year[196]. - The revenue from civil engineering projects accounted for approximately 90.6% of total revenue, while site preparation projects contributed about 9.4%[194]. - The company reported a significant decrease in earnings from oil and related products trade due to a weak economic environment in China and declining demand[197]. Challenges and Future Outlook - The company faced multiple challenges during the period, including inflationary pressures and intense competition for contract awards[200]. - The company has adopted a prudent approach in light of market weakness and the need for substantial capital for international oil trade and new business development[197]. - The company did not provide specific guidance for future performance during the call[17]. - There were no new product launches or significant market expansion strategies discussed in the conference call[17]. - The group plans to adopt revised International Financial Reporting Standards effective from January 1, 2024, which may impact future financial statements[104]. Provisions and Impairments - The company experienced a significant decline in trade receivables and contract asset impairment losses, which amounted to RM (1.951) million compared to RM (90) million in the previous year[25]. - The group recognized a provision for expected credit losses of 1,479,000 MYR on trade receivables during the period, compared to 576,000 MYR in the previous year, representing a significant increase in provisions[148]. - The group has implemented simplified methods for expected credit loss provisions in accordance with IFRS 9, with a net provision of 508,000 MYR on contract assets during the period[152]. Management Compensation - The total compensation for key management personnel increased from 1,568 thousand MYR to 1,930 thousand MYR during the period[181]. - The company did not recognize any equity-settled share-based payment expenses during the period, consistent with the previous year[176].

智通财经APP讯，TBKS HLDGS(01960)发布截至2023年12月31日止6个月业绩，该集团期内取得收益6469.9万令吉，同比减少78.57%;公司拥有人应占亏损1010.7万令吉，去年同期则公司拥有人应占溢利241.5万令吉;每股基本亏损1.01仙令吉。 公告称，集团于本期间的公司拥有人应占未经审核亏损约为1010万令吉(2022年：溢利约240万令吉)。本期间财务业绩转差乃主要由于中国石油及相关产品贸易的收益及溢利大幅减少所致。 ...

Revenue Performance - Revenue from oil and related product trading decreased significantly from approximately 262.4 million MYR for the six months ended December 31, 2022, to about 5.3 million MYR for the current period[16]. - The group's revenue decreased from approximately 302.0 million MYR to about 64.7 million MYR, a decline of approximately 78.6%[43]. - Revenue from oil and related products trading in China dropped by 98.0%, from approximately 262.4 million MYR to about 5.3 million MYR[31]. - Total revenue for the six months ended December 31, 2023, was 64,699 thousand, compared to 301,962 thousand for the same period in 2022, indicating a significant decrease[171]. - Total revenue from external customers reached 64.699 million MYR, with significant contributions from Malaysia (31.754 million MYR) and China (32.945 million MYR) for the six months ending December 31, 2023[193]. Profitability and Loss - The gross profit from oil and related products trading in China fell to approximately 0.01 million MYR, down from 7.9 million MYR, resulting in a gross profit margin of 0.3% compared to 3.0% in the previous year[32]. - The gross profit for civil and structural engineering in Malaysia decreased from approximately 2.7 million MYR to 1.8 million MYR, a decline of about 33.1%[28]. - The gross profit margin for civil and structural engineering in Malaysia dropped from approximately 11.7% to 5.8%[28]. - The group reported a net loss of 10.566 million MYR for the period, with a basic and diluted loss per share of 1.01 sen[198]. - The total comprehensive loss for the period was (9,882) thousand MYR, compared to a total comprehensive income of 860 thousand MYR in the previous year[151]. Project and Contract Performance - The construction and structural engineering services revenue increased by 3.0 million MYR for the period ended June 30, 2023, compared to no revenue in the previous year[18]. - Two projects nearing completion contributed approximately 5.9 million MYR and 8.8 million MYR to revenue, respectively, during the current period[21]. - The company is currently engaged in several ongoing projects, including two that are expected to complete soon, contributing to the revenue growth[21]. - Revenue from civil engineering projects increased from approximately 21.3 million MYR to about 28.8 million MYR, representing a growth of approximately 35.2%[46]. - The revenue decrease from ongoing projects (approximately 10.8 million MYR) and completed projects (totaling approximately 3.3 million MYR) offset the increase in revenue[47]. Financial Position and Assets - The company's total assets as of December 31, 2023, were 16,723 thousand MYR, down from 18,552 thousand MYR as of June 30, 2023[154]. - The company's current liabilities increased to 63,104 thousand MYR from 52,007 thousand MYR, indicating a rise of approximately 21.5%[154]. - The company's cash and cash equivalents decreased from 45,928 thousand to 35,581 thousand, a decline of approximately 22.5%[155]. - The net asset value of the company decreased from 144,466 thousand to 134,584 thousand, representing a reduction of about 6.5%[157]. - The company's total liabilities decreased from 1,229 thousand to 671 thousand, a decline of approximately 45.5%[157]. Corporate Governance and Compliance - The company has adhered to all applicable corporate governance codes during the reporting period[98]. - The company has no taxable profits for the periods ending December 31, 2023, and December 31, 2022, thus no provision for Hong Kong profits tax has been made[84]. - The company did not recognize any taxable profits for its subsidiary in Hainan, resulting in no provisions for corporate income tax[129]. - The company has no provision for Hong Kong profits tax due to the absence of taxable profits for the period[116]. Strategic Plans and Market Conditions - The company has taken a cautious approach due to a soft market and the need for substantial capital for international oil trading and new business development[16]. - The group plans to strengthen working capital management to enhance operational capabilities in oil trading as market conditions improve[23]. - The group aims to solidify its position in existing renovation engineering projects and improve technical standards to ensure stable revenue[24]. - The group plans to continue exploring and developing collaborations with large enterprises with state-owned backgrounds to enhance resilience in the oil and related products trading business[53]. - The group anticipates challenges in the fiscal year 2023/2024 due to intense competition in available contract engineering in Malaysia[52]. Credit and Receivables Management - Trade receivables as of December 31, 2023, were HKD 44,894,000, compared to HKD 57,656,000 as of June 30, 2023, reflecting a decrease[105]. - The company made a provision for expected credit losses on trade receivables amounting to MYR 1,479,000 during the reporting period, compared to MYR 576,000 in the previous year[108]. - The expected credit loss allowance for trade receivables and contract assets is 12,063,000 MYR for receivables aged 1 to 90 days[120]. - The company faces credit loss and overdue payment risks related to factoring receivables, with a current interest rate of 4% on outstanding amounts[108]. - The net allowance for expected credit losses on contract assets is 508,000 MYR for the current period, compared to a net reversal of 506,000 MYR in 2022[112].

Financial Performance - The group's revenue decreased by approximately RM 458.0 million or 55.5% to about RM 367.9 million for the fiscal year ending June 30, 2023, compared to approximately RM 825.9 million in the previous year[5]. - The group recorded a loss attributable to shareholders of approximately RM 8.7 million, compared to a profit of approximately RM 10.4 million in the previous year, resulting in a loss per share of 0.87 sen[6]. - Revenue from oil and related products trade in China decreased significantly by approximately 63.9% to about 276.2 million MYR for the fiscal year, down from approximately 765.9 million MYR[30]. - The group's total equity attributable to owners was approximately MYR 143.0 million, down from MYR 151.6 million in 2022[65]. - Revenue from the top five customers accounted for approximately 83.5% of total revenue for the year ended June 30, 2023, down from 91.4% in the previous year[74]. - The company has no significant contingent liabilities or pending litigation as of June 30, 2023[69]. - The company has no major investment or capital asset plans for the upcoming year[68]. - The group did not declare a final dividend for the current fiscal year, consistent with the previous year[62]. Revenue Breakdown - Revenue from civil and structural engineering in Malaysia and China accounted for approximately 24.9% and 75.1% of total revenue, respectively[5]. - Revenue from civil and structural engineering in Malaysia increased by approximately RM 31.7 million or 52.8%, while revenue from oil and related products trade in China decreased significantly by approximately RM 489.7 million or 63.9%[5]. - The group's revenue from civil and structural engineering increased by approximately 11.2% from about 45.8 million MYR in the fiscal year ending June 30, 2022, to about 50.9 million MYR in the current fiscal year[18]. - Revenue from civil engineering projects slightly increased by about 1.5% from approximately 43.2 million MYR to about 43.9 million MYR, driven by the completion of three projects and ongoing work on five projects[21]. - Revenue from construction projects surged by approximately 154.9%, rising from about 2.6 million MYR to about 6.6 million MYR, mainly due to two new projects and early completion of another[22]. - The group's revenue from civil and structural engineering in China increased significantly by 187.0%, from approximately 14.2 million MYR to about 40.8 million MYR, due to several ongoing projects[25]. - Revenue from civil and structural engineering in Malaysia increased by approximately 11.2% to about 50.9 million MYR for the fiscal year, up from approximately 45.8 million MYR[33]. Operational Challenges - The group faced multiple challenges including project delays, labor supply issues, and rising costs, impacting performance in the Malaysian civil and structural engineering sector[17]. - The competitive landscape for contract awards in Malaysia remains intense, affecting the overall performance of the civil and structural engineering sector[17]. - The group faced challenges in the oil and related products trade due to regional COVID-19 outbreaks and a decline in demand for refined oil products[44]. - The company has faced challenges in the construction sector, including limited supply of materials and increased prices, which have delayed project timelines and contract awards[88]. Strategic Focus and Future Plans - The company anticipates challenges in the fiscal year 2023/2024 due to geopolitical conflicts, rising costs, and intense competition for contracts in Malaysia[9]. - The group plans to continue focusing on general construction and renovation projects in China and will explore opportunities in East and West Malaysia and neighboring countries[10]. - The company aims to enhance its oil trading operations and strengthen its risk resilience by collaborating with large state-owned enterprises[12]. - The group will continue to improve operational efficiency and reduce operational risks through the promotion of an enterprise resource planning system[12]. - The board will regularly review existing businesses and explore new investment opportunities, including energy-related processing and logistics[11]. Cost and Profitability - The cost of sales for civil and structural engineering in Malaysia rose by approximately 9.9% to about 49.0 million MYR, compared to approximately 44.6 million MYR the previous year[36]. - Gross profit for civil and structural engineering in Malaysia increased by approximately 60.1% to about 2.0 million MYR, with a gross margin rising from approximately 2.7% to 3.9%[37]. - The cost of sales for civil and structural engineering in China was approximately 36.8 million MYR, up from approximately 13.3 million MYR the previous year[40]. - Gross profit for civil and structural engineering in China was approximately 3.9 million MYR, with a gross margin of about 9.6%, up from 6.1% the previous year[41]. - The gross profit for oil and related products trading was approximately MYR 8.3 million, with a gross margin of 3.0%, compared to MYR 28.8 million and a gross margin of 3.8% in 2022[47]. Human Resources and Employee Development - As of June 30, 2023, the group employed 510 staff, an increase from 298 in 2022, with employee costs amounting to approximately MYR 28.0 million, up from MYR 20.3 million in 2022[82]. - The group aims to expand its workforce by recruiting various managerial and engineering positions to support its operational needs[86]. - The group is committed to enhancing employee training and development to improve performance and morale, recognizing employees as valuable assets[82]. Corporate Governance - The company is committed to good corporate governance to enhance shareholder value and ensure effective accountability[114]. - The board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, with their specific terms of reference available on the respective websites[119]. - The company has adopted a board diversity policy, focusing on gender, age, cultural and educational background, professional qualifications, skills, knowledge, and industry experience[124]. - The company has complied with all applicable corporate governance codes during the fiscal year[115]. - The board regularly reviews corporate governance functions to adapt to changing standards and improve governance practices[115]. Risk Management - The company has implemented risk management policies to address identified potential risks, including environmental, social, and governance risks[168]. - The board believes that the internal control system is adequate in terms of integrity, feasibility, and effectiveness[170]. - The company has engaged an independent internal control consultant to review its financial procedures and internal control systems during the fiscal year[170]. - The group has appointed Mr. HP Tan as the compliance officer to oversee compliance with applicable laws and regulations[171]. Shareholder Communication - The company has established a communication policy to facilitate effective communication with shareholders and stakeholders[184]. - The annual general meeting was held on December 14, 2022, providing shareholders the opportunity to communicate directly with the board[185].

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。 TBK & Sons Holdings Limited （於開曼群島註冊成立之有限公司） （股份代號：1960） 截 至 二 零 二 三 年 六 月 三 十 日 止 年 度 的 年 度 業 績 公 告 TBK & Sons Holdings Limited（「本公司」）董事（「董事」）會（「董事會」）宣佈，本 公司及其附屬公司（統稱「本集團」）截至二零二三年六月三十日止年度（「本 財政年度」）的經審核綜合財務業績，連同截至二零二二年六月三十日止 年度的比較數字。 綜合損益及其他全面收益表 截至二零二三年六月三十日止年度 二零二三年 二零二二年 附註 千令吉 千令吉 收益 5 367,940 825,908 銷售成本 (353,716) (795,026) 毛利 14,224 30,882 其他收入以及收益及虧損 4,092 2,289 銷售及分銷開支 (1,519) (1,318) 行政開支 (21, ...

Financial Performance - Revenue for the six months ended December 31, 2022, was RM 301,962,000, a decrease of 8.1% from RM 328,682,000 in the same period of 2021[4] - Gross profit for the same period was RM 12,240,000, down 9.6% from RM 13,542,000 year-on-year[4] - Net profit for the period was RM 2,613,000, a decline of 33.1% compared to RM 3,911,000 in the previous year[6] - Total comprehensive income for the period was RM 860,000, significantly lower than RM 4,935,000 in the prior year[6] - Basic and diluted earnings per share were both RM 0.24 cents, down from RM 0.39 cents in the previous year[6] - The company reported a foreign exchange loss of RM 1,727,000 during the period, impacting overall comprehensive income[9] - The income tax expense for the six months ended December 31, 2022, was RM 2,047,000, an increase of 14.2% compared to RM 1,793,000 for the same period in 2021[50] - Profit attributable to owners for the period was approximately 2.4 million MYR, down from 3.9 million MYR in the previous year, with earnings per share at 0.24 sen compared to 0.39 sen[124] Assets and Liabilities - Non-current assets decreased to RM 22,634,000 from RM 25,340,000 as of June 30, 2022[7] - Current assets decreased to RM 169,461,000 from RM 215,824,000 as of June 30, 2022[7] - Total liabilities decreased to RM 36,507,000 from RM 83,922,000 as of June 30, 2022[8] - Total equity increased to RM 153,699,000 from RM 152,839,000 as of June 30, 2022[8] - Trade receivables as of December 31, 2022, amounted to RM 78,341,000, significantly higher than RM 42,895,000 as of June 30, 2022[58] - The company's contract assets decreased to RM 24,697,000 as of December 31, 2022, from RM 30,046,000 as of June 30, 2022, due to a reduction in ongoing construction projects[62] Cash Flow - For the six months ended December 31, 2022, the net cash used in operating activities was (25,785) thousand MYR, compared to a net cash inflow of 6,692 thousand MYR in the same period of 2021[13] - The net cash generated from investing activities was 2,064 thousand MYR, a decrease from 8,095 thousand MYR in the previous year[15] - The net cash used in financing activities was (3,691) thousand MYR, compared to (4,759) thousand MYR in the same period of 2021[13] - The cash and cash equivalents decreased by 27,412 thousand MYR, while the cash and cash equivalents at the end of the period were 45,370 thousand MYR, down from 83,643 thousand MYR in the previous year[15] Segment Performance - The company has four reportable segments as of December 31, 2022, compared to three in the previous year[28] - Contract revenue recognized for the six months ended December 31, 2022, was 39,542 thousand MYR, significantly higher than 24,056 thousand MYR in the same period of 2021, indicating a growth of 64.4%[42] - The company reported a decrease in oil and related product trade revenue to 262,420 thousand MYR for the six months ended December 31, 2022, down from 304,626 thousand MYR in the previous year, a decline of 13.9%[42] - The revenue from civil and structural engineering in Malaysia decreased by approximately 3.3% from RM 24.1 million in the previous year to RM 23.3 million in the current period[84] - The revenue from civil engineering projects fell from RM 21.6 million to RM 21.3 million, a decrease of about 1.6%[86] - The revenue from construction projects decreased significantly by approximately 17.9%, from RM 2.4 million to RM 2.0 million[87] - The revenue from civil and structural engineering in China for the period was approximately 16.3 million MYR, compared to zero in the previous year[92] Expenses - The total employee costs for the six months ended December 31, 2022, were 11,864 thousand MYR, slightly up from 11,313 thousand MYR in the same period of 2021, reflecting an increase of 4.9%[48] - The administrative expenses for the six months ended December 31, 2022, were 8,797 thousand MYR, compared to 7,171 thousand MYR in the same period of 2021, indicating an increase of 22.7%[34] - The group incurred related party transactions amounting to RM 507,000 for subcontracting fees, a significant increase from RM 55,000 in the previous year[18] - Sales and distribution expenses for the period amounted to approximately 0.9 million MYR, an increase from 0.7 million MYR in the previous year[117] - Administrative expenses rose from approximately 7.2 million MYR to about 8.8 million MYR, primarily due to increased employee costs and depreciation[118] - Financing costs recorded were approximately 0.4 million MYR for the current period, compared to 0.2 million MYR in the previous year[119] Corporate Governance - The company has adopted the corporate governance code as per the listing rules and has confirmed compliance throughout the period[164] - The audit committee, consisting of three independent non-executive directors, reviewed and approved the interim financial results, ensuring compliance with applicable accounting standards[166] - The board is committed to good corporate governance practices to enhance shareholder value and will regularly review its governance functions[164] Future Outlook - The company expects to face challenges in 2023 due to rising costs, labor supply issues, and intense competition in contract awards[99] - The company plans to explore opportunities in East and West Malaysia and neighboring countries while maintaining a cautious approach to new projects[99] - The company anticipates a gradual recovery in the global market as COVID-19 measures are relaxed, which may positively impact future performance[146] - The management plans to gradually resume the utilization of the remaining net proceeds in response to market changes as COVID-19 restrictions are eased in China and Malaysia[146]

Revenue Performance - The company reported significant revenue from oil and related product trading in China, contributing to operational profits [11]. - The revenue from oil and related products trade in China increased significantly from RM 106.7 million to RM 765.9 million, marking a nearly sixfold increase [22]. - The group reported a profit attributable to owners of approximately RM 10.4 million, compared to RM 0.6 million in the previous year, with earnings per share rising to 1.04 sen from 0.06 sen [22]. - The group's civil and structural engineering revenue decreased by approximately 44.4% from about RM 82.4 million to RM 45.8 million for the fiscal year [16]. - The revenue from civil and structural engineering in China was approximately RM 14.2 million for the fiscal year [20]. - The revenue from civil and structural engineering services decreased by approximately 44.4% from about 82.4 million MYR in the previous fiscal year to about 45.8 million MYR in the current fiscal year [50]. - Revenue from civil engineering projects fell from approximately 63.5 million MYR to about 43.2 million MYR, a decrease of about 31.9% [52]. - Revenue from construction projects decreased from approximately 18.9 million MYR to about 2.6 million MYR, representing a significant decline [57]. - The revenue from oil and related products trade in China for the fiscal year was approximately 765.9 million MYR, a significant increase from 106.7 million MYR in the previous year, reflecting a growth of about 618.7% [65][78]. Operational Challenges - The company has faced challenges such as project delays and labor shortages in Malaysia, affecting its financial performance during the fiscal year [10]. - The company currently has 11 ongoing projects in Malaysia, down from 13 in the previous year [60]. - The company faces risks related to subcontractors, including potential delays and compliance issues, which could lead to additional costs and impact profitability [113]. - The company does not guarantee the continuation of existing business levels or the ability to secure a sufficient number of projects in the future [118]. Strategic Initiatives - The company aims to diversify its revenue streams due to the lack of capital-intensive projects in Malaysia's oil and gas sector, exploring civil and structural engineering opportunities in China [14]. - The company is focusing on expanding its customer base and ensuring higher quality oil products in the northern Chinese market [11]. - The company is actively seeking business opportunities in regions where COVID-19 is under control, indicating a strategic shift in its operational focus [11]. - The group plans to strengthen its operations in the South China market and expand into the Northern market, starting from Shandong [32][33]. - The company aims to establish a construction team for oil engineering projects and develop the oil engineering project market [44]. - The company is focused on acquiring a Malaysian indigenous engineering contractor to enhance its operational capabilities [127]. - The company is seeking future investment opportunities in petrochemicals, mineral resources, natural resources, financial investments, and oil logistics [178]. Financial Health - The current ratio decreased to 2.6 times in 2022 from 6.4 times in 2021, indicating a decline in liquidity [97]. - The debt-to-equity ratio increased to 7.3% in 2022 from 5.8% in 2021, reflecting a rise in leverage [97]. - The return on equity improved to 6.9% in 2022 from 0.4% in 2021, indicating better profitability relative to shareholders' equity [97]. - The group had total cash and cash equivalents of approximately 74.2 million MYR as of June 30, 2022, compared to 72.6 million MYR in the previous year [101]. - The group did not propose any final dividend for the fiscal year, consistent with the previous year [103]. - The group has no significant investments or capital asset plans for the upcoming year [106]. - The group reported a total employee cost of approximately 20.3 million MYR for the fiscal year, a slight decrease from 20.8 million MYR in the previous year [123]. - The company has 298 employees as of June 30, 2022, down from 375 in the previous year, indicating a reduction in workforce [123]. Management and Governance - Mr. Tang was appointed as Executive Director on February 4, 2021, bringing over ten years of experience in the oil trading industry [198]. - Mr. Tang has held various director and general manager positions in companies focused on mining investments and oil trading in West Africa since 2011 [198]. - Several companies associated with Mr. Tang have been dissolved, including Rank Projects Sdn Bhd and Vibrant Returns Sdn Bhd, both dissolved on August 18, 2010, and October 14, 2011, respectively [198]. - The document lists multiple companies where Mr. Tang served as a director, with the majority being dissolved or reaching their status date in 2017 [198]. Future Outlook - The company’s future performance will depend on its ability to secure new projects and control costs, with past performance not necessarily indicative of future results [118]. - A significant portion of the company’s revenue is derived from PIPC projects, and any loss of business relationships or failure to secure new projects related to PIPC could adversely affect operations and financial performance [119]. - The company aims to reserve more funds to meet potential clients' performance bond requirements and expand its workforce [124]. - The company is monitoring foreign currency risks and may consider hedging activities to mitigate the impact of currency fluctuations on financial performance [120].