Financial Performance - Revenue for the three months ended August 31, 2021, was RM 2,652,000, a decrease of 2.2% compared to RM 2,712,000 in the same period of 2020[13]. - Gross profit for the three months ended August 31, 2021, was RM 1,171,000, significantly up from RM 97,000 in the same period of 2020, representing a gross profit margin increase[13]. - Loss before income tax for the three months ended August 31, 2021, was RM 2,651,000, compared to RM 1,923,000 in the same period of 2020, indicating a 38% increase in losses[13]. - Total comprehensive loss for the nine months ended August 31, 2021, was RM 5,498,000, a decrease from RM 6,296,000 in the same period of 2020, showing a 12.7% improvement[16]. - Loss per share for the three months ended August 31, 2021, was RM 0.72, compared to RM 0.49 in the same period of 2020, indicating a 46.9% increase in loss per share[16]. - The company reported a total accumulated loss of RM 18,838,000 as of August 31, 2021, compared to RM 8,463,000 as of August 31, 2020[19]. - Revenue for the nine months ended 31 August 2021 was RM 8,223,000, an increase of 28.8% compared to RM 6,393,000 for the same period in 2020[48]. - Reportable segment results for the nine months ended 31 August 2021 were RM 2,924,000, significantly up from RM 722,000 in the previous year, representing a growth of 304.2%[54]. - The company reported a loss before income tax of RM 5,341,000 for the nine months ended 31 August 2021, a reduction in loss compared to RM 6,296,000 for the same period in 2020[54]. - The Group recorded a loss of approximately RM 5.5 million for the nine months ended 31 August 2021, a decrease from approximately RM 6.3 million in 2020[117]. Administrative and Other Expenses - Administrative expenses for the three months ended August 31, 2021, increased to RM 3,838,000 from RM 2,041,000 in the same period of 2020, reflecting an increase of 88%[13]. - The company reported administrative expenses of RM 8,282,000 for the nine months ended 31 August 2021, an increase from RM 7,110,000 in 2020, indicating a rise of 16.5%[54]. - Amortization expenses for the nine months ended 31 August 2021 were RM 1,808,000, compared to RM 1,317,000 in the previous year, indicating an increase of 37.2%[54]. - The impairment loss on trade receivables significantly increased to RM1,562,000 for the three months ended 31 August 2021, compared to RM 98,000 in the same period of 2020, reflecting a 1500% increase[69]. - Other income for the three months ended August 31, 2021, was RM 30,000, slightly down from RM 33,000 in the same period of 2020[13]. - Other income for the nine months ended 31 August 2021 was RM 69,000, down from RM 139,000 in the previous year, representing a decline of 50.4%[65]. Taxation - The current tax expense for the period was RM138,000, with the Malaysia corporate income tax rate remaining at 24%[72]. - The company’s entities established in the Cayman Islands and the British Virgin Islands are exempt from income tax, while Mixsol Sdn. Bhd. is subject to Malaysia CIT after the expiration of its pioneer status on 30 June 2021[75][79]. - Income tax expenses increased to approximately RM 138,000 for the nine months ended August 31, 2021, compared to nil in 2020[116]. - Income tax expenses increased to approximately MYR 138,000 for the nine months ended August 31, 2021, compared to none in 2020, primarily due to profits recorded by two subsidiaries in Malaysia[119]. Business Operations and Strategy - The company is primarily engaged in investment holding and provides system integration and development services, IT outsourcing services, and maintenance and consultancy services[22]. - The Group's reportable segments include system integration and development services, IT outsourcing services, and maintenance and consultancy services[41]. - The Group continues to explore new strategies for market expansion and product development to improve financial performance moving forward[70]. - The Group's future strategy includes becoming a major IT solutions provider for digitalization in Malaysia and capturing new growth opportunities through its product, Square Intelligence[136]. - The Group is developing an advanced version of its mobile payment application, Blackbutton, to localize mobile payment products in Malaysia[142]. - The Group is participating in several digital transformation tenders initiated by the Malaysian Government or Government-linked Companies (GLCs)[141]. - The Group has implemented various flexible working arrangements and precautionary measures to mitigate the impact of the COVID-19 pandemic on operations[131]. - The Group's operations have faced significant disruptions due to COVID-19, including temporary office closures and project delays[127]. - The Group is evaluating potential acquisitions or development of 4 new major intellectual properties to enhance the features of Square Intelligence (NS3) and the customer relationship management system (CUSTPRO)[146][149]. Market and Economic Environment - The Malaysian Government plans to invest RM 15 billion over 10 years for the implementation of a 5G network, aiming to transform Malaysia into a digital-driven, high-income nation[141]. - The Malaysian Government targets to migrate 80% of public data to hybrid cloud systems by the end of 2022[141]. - The Group anticipates that the information technology industry in Malaysia will remain challenging and competitive in the coming years due to the economic impact of the COVID-19 pandemic[154][156]. Financial Management and Proceeds - The net proceeds from the share offer were approximately RM30.5 million (equivalent to approximately HK$58.6 million)[176]. - The total intended use of proceeds was RM30.50 million, with RM19.40 million already utilised, leaving a balance of RM11.10 million as of August 31, 2021[186]. - The company reported unutilised net proceeds of approximately RM11 million, which were reallocated to general working capital, including staff costs of RM7.6 million, professional fees of RM1.5 million, finance costs of RM0.1 million, and other expenses of RM1.8 million[191]. - The Board resolved to change the use of unutilized net proceeds of approximately RM17.28 million for R&D and IT business acquisitions[180]. - The company plans to strengthen its technical team by recruiting more IT specialists, with an allocation of RM3.05 million for this purpose[186]. - An amount of RM18.30 million was allocated for the purchase of hardware and equipment to establish IT infrastructure for cloud storage and computing services[186]. - RM6.10 million was designated for research and development of advanced and adapted versions of existing IT products, with an adjusted amount of RM9.38 million as of December 31, 2021[186]. - The company has allocated RM3.00 million for the acquisition of IT business, with a timeline set for December 31, 2021[186]. Governance and Compliance - The company has complied with the Corporate Governance Code, except for the separation of roles between the chairman and the chief executive officer, which the Board believes is in the best interest of the Group[192].

Financial Performance - Revenue for the three months ended May 31, 2021, was RM 3,729,000, representing a 164% increase from RM 1,411,000 in the same period of 2020[14]. - Gross profit for the six months ended May 31, 2021, was RM 1,753,000, up from RM 625,000 in the same period of 2020, indicating a 180% increase[14]. - Loss before income tax for the three months ended May 31, 2021, was RM 1,579,000, an improvement from a loss of RM 2,823,000 in the same period of 2020[14]. - Total comprehensive loss for the six months ended May 31, 2021, was RM 2,709,000, compared to RM 4,373,000 in the same period of 2020, reflecting a 38% reduction in losses[17]. - The loss per share for the six months ended May 31, 2021, was RM 0.69, compared to RM 1.12 for the same period in 2020[17]. - The company reported a loss before income tax of RM 2,690,000 for the six months ended May 31, 2021, compared to a loss of RM 4,373,000 for the same period in 2020, indicating an improvement of approximately 38.5%[28]. - The company incurred a loss before income tax of RM 2,690,000 for the six months ended May 31, 2021, compared to a loss of RM 4,373,000 for the same period in 2020, indicating a reduction in losses by 38.5%[66]. - For the three months ended 31 May 2021, the company reported a loss attributable to owners of RM1,579,000, compared to a loss of RM2,823,000 in the same period of 2020, representing a 44% improvement[99]. - For the six months ended 31 May 2021, the loss attributable to owners was RM2,690,000, down from RM4,373,000 in 2020, indicating a 38% reduction in losses[99]. Revenue Breakdown - Revenue from external customers for the six months ended May 31, 2021, was RM 5,571,000, an increase of 51.2% compared to RM 3,681,000 for the same period in 2020[73]. - Revenue growth was primarily driven by increases in system integration and development services, as well as IT outsourcing services[148]. - Revenue from IT outsourcing services for the six months ended May 31, 2021, was RM 1,483,000, a significant increase of 268.9% from RM 402,000 in 2020[78]. - Revenue from system integration and development services for the six months ended May 31, 2021, was RM 3,695,000, up from RM 2,903,000 in the previous year, reflecting a growth of 27.4%[78]. - The geographical revenue breakdown shows that Malaysia contributed RM 5,556,000 and Singapore contributed RM 15,000 for the six months ended May 31, 2021[73]. Assets and Liabilities - Non-current assets as of May 31, 2021, totaled RM 5,679,000, a decrease from RM 6,000,000 as of November 30, 2020[20]. - Current assets decreased to RM 23,044,000 as of May 31, 2021, from RM 26,875,000 as of November 30, 2020[20]. - Current liabilities decreased to RM 8,547,000 as of May 31, 2021, from RM 10,046,000 as of November 30, 2020[20]. - Total equity decreased from RM 22,074,000 as of November 30, 2020, to RM 19,365,000 as of May 31, 2021, reflecting a decrease of about 12.3%[23]. - Net current assets decreased from RM 16,829,000 as of November 30, 2020, to RM 14,497,000 as of May 31, 2021, representing a decline of approximately 13.9%[23]. - Cash and cash equivalents at the end of the reporting period decreased to RM 16,586,000 from RM 17,867,000, a decline of about 7.2%[33]. - Trade receivables from third parties amounted to RM5,489,000 as of 31 May 2021, a decrease from RM7,393,000 as of 30 November 2020, with a loss allowance of RM1,199,000[112][114]. - The Group's contract assets stood at RM519,000 and contract liabilities at RM(1,342,000) as of 31 May 2021, compared to RM166,000 and RM(2,144,000) respectively as of 30 November 2020[122]. - Interest-bearing borrowings remained stable at RM851,000 as of 31 May 2021, compared to RM853,000 as of 30 November 2020[137]. - The Group's total cash and cash equivalents decreased by approximately 12.1% from RM18,876,000 as of 30 November 2020 to RM16,586,000 as of 31 May 2021[127][128]. Expenses and Costs - Administrative expenses decreased to RM 4,444,000 for the six months ended May 31, 2021, from RM 5,069,000 in the previous year, a reduction of 12.3%[66]. - The company reported other income of RM 39,000 for the six months ended May 31, 2021, down from RM 106,000 in the same period of 2020[66]. - Amortization expenses for the six months ended May 31, 2021, were RM 1,152,000, compared to RM 784,000 in the previous year, indicating an increase of 47%[66]. - The amortization of intangible assets increased to RM656,000 for the three months ended 31 May 2021, up from RM392,000 in 2020, reflecting a 67% increase[87]. - The depreciation of property, plant, and equipment rose to RM109,000 for the three months ended 31 May 2021, compared to RM72,000 in the same period of 2020, marking a 51% increase[87]. - The company incurred finance costs of RM20,000 for the three months ended 31 May 2021, compared to RM15,000 in 2020, which is a 33% increase[87]. Strategic Focus and Operations - The Group's main business includes system integration and development services, IT outsourcing services, and maintenance and consultancy services[53]. - The Group is engaged in IT services, including system integration, IT outsourcing, and maintenance, indicating a strategic focus on technology solutions for corporate clients[147]. - The Group has actively pursued business strategies to become a major IT solutions provider in Malaysia, focusing on digitalization[198]. - Since the Listing, the Group has recruited 12 additional IT specialists to enhance its IT solutions capabilities[199]. - The Group plans to leverage pre-IPO investors' business networks to introduce IT products from the PRC into Malaysia[198]. Impact of COVID-19 - The Group experienced significant operational disruptions due to the COVID-19 pandemic, including temporary office closures and project delays[193]. - The Malaysian Government implemented various control orders, including a full lockdown from June 1 to June 28, 2021, affecting business operations[190]. - The Group has implemented precautionary measures to ensure employee safety and mitigate the impact of the COVID-19 pandemic[194]. - The Group is closely monitoring the pandemic's development to adjust its operational measures accordingly[197].

Financial Performance - For the three months ended February 28, 2021, the revenue was RM 1,842,000, a decrease of 19% compared to RM 2,270,000 for the same period in 2020[14]. - The gross profit for the period was RM 657,000, representing a 19.9% increase from RM 548,000 in the previous year[14]. - Administrative expenses decreased to RM 1,783,000, down 15% from RM 2,096,000 in the same period last year[14]. - The loss before income tax was RM 1,111,000, which is a 28.2% improvement compared to a loss of RM 1,549,000 in the prior year[14]. - The total comprehensive loss for the period was RM 1,111,000, compared to RM 1,549,000 for the same period in 2020[18]. - Loss per share for the period was RM 0.28, an improvement from RM 0.40 in the previous year[18]. - The Group recorded a loss of approximately RM1.1 million for the three months ended 28 February 2021, compared to a loss of approximately RM1.5 million for the three months ended 29 February 2020[106]. - The Group's loss attributable to owners for the period was RM1,111,000, compared to RM1,549,000 for the same period in 2020[73]. Revenue Breakdown - IT outsourcing services revenue increased significantly to RM 702,000, compared to RM 189,000 in the prior year, representing a growth of 271%[55]. - Revenue for IT outsourcing services increased by over 2.5 times from approximately RM189,000 for the three months ended 29 February 2020 to approximately RM702,000 for the three months ended 28 February 2021[94]. - Revenue for maintenance and consultancy services increased by approximately 32.7% from approximately RM150,000 for the three months ended 29 February 2020 to approximately RM199,000 for the three months ended 28 February 2021[95]. - Revenue from system integration and development services decreased by approximately 51.3% from RM1.9 million for the three months ended 29 February 2020 to RM0.9 million for the three months ended 28 February 2021[86]. - The decrease in revenue was primarily attributed to delays in project completion due to the COVID-19 pandemic and the implementation of the Movement Control Order by the Malaysian Government[86]. COVID-19 Impact - The COVID-19 pandemic and related control measures have caused significant disruptions, leading to project delays of approximately 10 months and a drop in revenue from system integration and development services by more than 50%[115]. - The Group has implemented numerous precautionary measures and flexible working arrangements to mitigate the adverse impact of the COVID-19 pandemic on its operations[116]. - The Malaysian Government's Proclamation of Emergency is expected to last until 1 August 2021, affecting customer investment in IT projects[93]. - The Board anticipates that customers will continue to implement smaller incremental projects rather than large-scale IT transformations throughout 2021[93]. - The COVID-19 pandemic has impacted the Group's operations, leading to delays in securing new projects and customer acquisition due to travel restrictions[142]. Equity and Financial Position - As of February 28, 2021, total equity stood at RM 20,963,000, down from RM 22,074,000 at the end of the previous reporting period[20]. - The Group has not early adopted new/revised IFRSs that have been issued but are not yet effective, and no material impact is anticipated from future adoptions[33]. - The Group's financial performance is assessed based on the types of goods or services delivered or provided[34]. - The preparation of the financial statements requires management to make judgments, estimates, and assumptions that may differ from actual results[28]. Future Business Strategy - The Group's future business strategy includes becoming a major IT solution provider for digitalization in Malaysia and diversifying service offerings[119]. - The Group is developing an advanced version of its mobile payment application, Blackbutton, to localize the product in Malaysia and integrate it with banking infrastructure[127]. - The Group is evaluating potential acquisitions or development of 4 new major intellectual properties to enhance the features of Square Intelligence and CUSTPRO[129]. - The Group has secured a contract with Bursa Malaysia to develop a CDS e-Services solution platform using its product, Square Intelligence[138]. - The Group plans to actively formulate alternative business plans and enhance product offerings to generate sustainable cash inflow[142]. Shareholder Information - Mr. Chong Yee Ping and Mr. Siah Jiin Shyang each hold interests in 196,560,000 shares, representing 50.4% of the Company's issued share capital[183]. - Mr. Liu Yan Chee holds 57,720,000 shares, representing 14.8% of the Company's issued share capital[183]. - Mr. Lam Pang holds 38,220,000 shares, representing 9.8% of the Company's issued share capital[183]. - Delicate Edge Limited and King Nordic Limited each hold 98,280,000 shares, representing 25.2% of the total issued share capital of the Company[184]. - As of February 28, 2021, there were no arrangements for directors or executives to acquire benefits through the acquisition of shares or debentures[188].

ANNUAL REPORT 年報 2020 MINDTELL TECHNOLOGY LIMITED ANNUAL REPORT 年報 2020 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful co ...

INTERIM REPORT 中期報告 2020 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. Given that the companies listed on ...

CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. Given that the companies listed on GEM are generally small ...

CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. Given that the companies listed on GEM are generally small ...