Financial Performance - For the three months ended September 30, 2020, the company's revenue was approximately 8.6 million MYR, a decrease of about 13.1% compared to 9.9 million MYR in the same period last year[8]. - Gross profit for the same period decreased by approximately 14.7% to about 3.2 million MYR from 3.7 million MYR year-on-year[9]. - The company reported a loss of approximately 7,000 MYR for the three months ended September 30, 2020, while profit excluding listing expenses and income tax expenses was about 0.4 million MYR, a decrease of approximately 84.4% compared to 2.7 million MYR in the previous year[9]. - The total comprehensive income for the period was a loss of 7,000 MYR, compared to a profit of 1.2 million MYR in the previous year[12]. - The financial performance indicates a significant decline in profitability and revenue, highlighting challenges faced during the quarter[8]. - The total loss for the three months ended September 30, 2020, was approximately RM 7,000, compared to a profit of RM 1.2 million for the same period in 2019[66]. Revenue Breakdown - Revenue from network connection services was 5,785 thousand MYR, an increase of 9.2% from 5,298 thousand MYR in the previous year[31]. - Revenue from hardware sales was 498 thousand MYR, down 52.7% from 1,052 thousand MYR in the same quarter of 2019[31]. - Revenue from network support services decreased by approximately 39.1%, while revenue from network connectivity services increased by approximately 9.4%[56]. - Revenue from on-site hardware installation decreased by approximately RM 0.5 million or 71.4% to RM 0.2 million for the three months ended September 30, 2020[56]. Expenses and Costs - Administrative and other operating expenses increased by approximately RM 1.8 million or 180% to RM 2.8 million for the three months ended September 30, 2020[62]. - Employee costs for the three months ended September 30, 2020, amounted to 1,213 thousand MYR, up from 1,018 thousand MYR in the same period of 2019, reflecting a 19% increase[36]. - Financing costs decreased by approximately RM 63,000 or 66.3% to RM 32,000 for the three months ended September 30, 2020[63]. - Sales and service costs decreased by approximately RM 0.8 million or 12.9% to RM 5.4 million for the three months ended September 30, 2020[57]. - Income tax expenses decreased by approximately RM 0.4 million or 50% to RM 0.4 million for the three months ended September 30, 2020[64]. Shareholder Information - The total equity attributable to owners of the company as of September 30, 2020, was 54,444 thousand MYR, slightly down from 54,451 thousand MYR as of July 1, 2020[16]. - As of September 30, 2020, Tan Datuk and Ms. Kwong each hold 337,500,000 shares, representing 56.25% of the company's equity[77]. - Advantage Sail holds 303,750,000 shares, accounting for 50.625% of the company's equity[77]. - Robust Cosmos holds 33,750,000 shares, which is 5.625% of the company's equity[77]. - Mr. Fu holds 112,500,000 shares, representing 18.75% of the company's equity[77]. - The company has not granted any share options under the share option scheme since its adoption on November 11, 2019[81]. Governance and Compliance - The board of directors confirmed the accuracy and completeness of the financial report, ensuring no misleading information was presented[3]. - The audit committee reviewed the unaudited condensed consolidated financial performance for the three months ended September 30, 2020, ensuring compliance with applicable accounting standards[85]. - The company adopted and complied with the corporate governance code during the three months ended September 30, 2020, with some deviations noted[86]. - All directors confirmed compliance with the trading standards for securities transactions as of September 30, 2020[87]. Future Outlook - The company aims to address these challenges through strategic initiatives and potential market expansion[9]. - Future outlook remains cautious as the company navigates through the current market conditions[9]. - The company remains optimistic about the demand for IT-related services despite market uncertainties due to COVID-19, which has accelerated the need for technology solutions[50]. - The company anticipates facing more challenges and opportunities in the current fiscal year, emphasizing the need for adaptive management strategies[53]. - The company aims to seek better business opportunities to mitigate the impact of current market volatility and improve performance for shareholders[53]. Other Information - The company operates primarily in Malaysia, with all revenue from external customers generated in this region[28]. - The company has not adopted any new or revised International Financial Reporting Standards that would significantly impact the financial statements[25]. - The company's capital structure remained unchanged since its listing on December 9, 2019[67]. - The report contains forward-looking statements regarding the group's financial condition and operational performance, which may differ significantly from actual results due to known and unknown risks[92]. - The board expresses gratitude for the contributions and dedication of all employees, highlighting the importance of their support for the company's ongoing success[95].

Company Listing and Financial Position - The company successfully listed on the Hong Kong GEM on December 9, 2019, marking a significant milestone for the fiscal year 2019/20[10] - The company successfully listed on the GEM of the Stock Exchange on December 9, 2019, raising funds for future development[17] - The company aims to enhance its financial position using resources obtained from the IPO to implement business strategies outlined in the prospectus dated November 25, 2019[11] - The net proceeds from the share issuance amounted to approximately 28.0 million HKD, with planned allocations including 4.6 million HKD (16.4%) for cloud data content management solutions[69] - As of June 30, 2020, the company had unutilized net proceeds of approximately 2.262 million HKD from the share issuance[71] - The company did not recommend any dividends for the year ending June 30, 2020, consistent with the previous year[61] - As of June 30, 2020, the group's distributable reserves were approximately MYR 37.9 million, an increase from MYR 19.2 million in 2019[118] Impact of COVID-19 - The company reported challenges due to the COVID-19 pandemic, which impacted business operations and project negotiations[10] - The COVID-19 pandemic has negatively impacted business operations and overall economic conditions, affecting negotiations with existing clients and the acquisition of new clients[17] - The company anticipates short-term challenges as clients adopt a "wait-and-see" approach due to economic uncertainties[11] - The COVID-19 pandemic has impacted business operations, with the company closely monitoring its financial condition and operational performance[65][68] Revenue and Financial Performance - The group's revenue decreased from approximately RM 41.4 million for the year ended June 30, 2019, to approximately RM 37.1 million for the year ended June 30, 2020, a decline of RM 4.3 million or 10.4%[36] - Revenue from network support services decreased by approximately 26.0%, while revenue from network connectivity services increased by approximately 5.3%[36] - Revenue from on-site hardware installation dropped by approximately RM 3.6 million or 70.6%, from RM 5.1 million to RM 1.5 million[37] - Other income increased by 100% from approximately RM 0.4 million to RM 0.8 million, primarily due to increased interest income from bank deposits[41] - The total comprehensive loss for the year ended June 30, 2020, was approximately RM 0.6 million, compared to a profit of RM 8.5 million for the year ended June 30, 2019[48] Risk Management - The company faces significant risks related to reliance on major clients, with potential losses if any of these clients are lost[27] - The company is attempting to increase revenue to compensate for the expiration of tax exemption qualifications, which may impact future financial performance[31] - The board regularly reviews major risk areas and appropriate risk mitigation strategies, considering leasing equipment if it is more advantageous than purchasing[33] - The company believes that its risk management and internal control systems are effective and sufficient[33] - The financial risks, including tax status and potential depreciation expenses, may adversely affect future financial performance[31] Business Strategy and Development - The company aims to accelerate development to respond to market demands and diversify its ICT services to adapt to current conditions[18] - The company has introduced new revenue sources, including secure cloud services and data content management centers, to mitigate risks associated with traditional network support services[23] - The company is expanding its product and service offerings to attract new contracts and enhance market visibility[25] - The company is optimistic about new ICT services complementing existing business operations[11] - The company is committed to a prudent approach in developing existing businesses and seeking better opportunities to mitigate current market volatility[11] Corporate Governance - The board of directors emphasizes the importance of good corporate governance standards to protect shareholder interests and enhance company value[173] - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a balanced governance structure[178] - The independent non-executive directors confirm their independence according to GEM Listing Rules, ensuring compliance with governance standards[182] - The company has adopted the GEM Listing Rules as the basis for its corporate governance practices, with a commitment to transparency and accountability[173] - The company has implemented appropriate checks and balances through the board and independent non-executive directors to maintain effective decision-making[180] Employee and Operational Insights - As of June 30, 2020, the total number of employees was 50, with employee costs amounting to approximately 5.2 million MYR, an increase from 4.5 million MYR as of June 30, 2019[57] - The company acknowledges the contributions of all employees and stakeholders in its ongoing success[169] - All directors participated in ongoing professional development, with training records submitted for the year ending June 30, 2020[193] Auditor and Compliance - Deloitte served as the company's auditor until June 5, 2020, when they resigned due to a disagreement over audit fees[163] - The new auditor, Zhongzheng Zhonghuan (Hong Kong) CPA Limited, was appointed to fill the vacancy until the next annual general meeting[163] - The company ensures compliance with GEM listing rules and provides updates on regulatory requirements to all directors[193] Shareholder Information - The company has a share option plan that allows for the issuance of up to 10% of the total shares in circulation as of the listing date, which amounts to 60,000,000 shares[146] - As of June 30, 2020, there were no share options granted, exercised, cancelled, or lapsed under the share option plan[146] - The company maintained sufficient public float, with 25% of the issued shares held by the public as of June 30, 2020[162]

Financial Performance - The company's revenue for the nine months ended March 31, 2020, was approximately RM 27.98 million, a decrease of 7.9% compared to RM 30.37 million in the same period last year[11]. - Gross profit for the same period decreased by 24.4% to approximately RM 9.97 million, down from RM 13.20 million year-on-year[12]. - The net profit for the nine months was approximately RM 0.85 million, a significant decline of 90.9% from RM 9.35 million in the previous year[12]. - Excluding listing expenses and tax credits, the adjusted net profit was approximately RM 6.44 million, representing a decrease of 29.7% compared to RM 9.17 million in the prior year[12]. - Basic earnings per share for the period was 0.31 sen, down from 0.75 sen in the same period last year[15]. - Total comprehensive income attributable to owners of the company for the period was RM 1.77 million, compared to RM 3.27 million in the previous year[15]. - The company reported a significant drop in operating profit before tax, which was RM 2.15 million for the nine months, down from RM 6.74 million in the same period last year[16]. - The total profit and comprehensive income decreased from approximately MYR 9.4 million for the nine months ended March 31, 2019, to approximately MYR 0.9 million for the nine months ended March 31, 2020, a decline of about 90.4%[102]. - Excluding expenses related to the listing of approximately MYR 4.3 million, the total profit and comprehensive income for the nine months ended March 31, 2020, would be approximately MYR 5.2 million compared to approximately MYR 11.8 million for the nine months ended March 31, 2019[102]. Revenue Breakdown - Revenue from network management and security services for the nine months ended March 31, 2020, was RM 3,686,701, down from RM 6,192,421 in the same period of 2019, reflecting a decrease of about 40.6%[57]. - Revenue from network connection services for the nine months ended March 31, 2020, was RM 14,765,548, slightly up from RM 14,680,702 in the same period of 2019, indicating a marginal increase of approximately 0.6%[57]. - Revenue from on-site hardware installation decreased by approximately 3.4 million MYR or 70.8%, from about 4.8 million MYR to about 1.4 million MYR[91]. - Revenue from network support services decreased by approximately 15.9%, while revenue from network connection services increased by approximately 0.7% during the same period[89]. - The total revenue from customer contracts, including revenue from leased hardware, was RM 8,401,121 for the three months ended March 31, 2020, compared to RM 8,654,452 in the same period of 2019, a decrease of approximately 2.9%[57]. Expenses and Costs - The company incurred listing expenses of RM 4.29 million during the nine months, which impacted overall profitability[16]. - Administrative expenses increased by approximately 1.1 million MYR or 32.4%, from about 3.4 million MYR to about 4.5 million MYR[98]. - Financing costs for the three months ended March 31, 2020, were MYR 130,354, an increase of 24.6% from MYR 104,605 in the same period of 2019[67]. - Sales and service costs increased by approximately 0.8 million MYR or 4.7%, from about 17.2 million MYR to about 18.0 million MYR[92]. Other Income and Tax - Other income for the nine months was RM 586,748, compared to RM 64,292 in the previous year, indicating a notable increase[16]. - The total tax expense for the nine months ended March 31, 2020, was MYR 1,439,384, compared to a tax credit of MYR (136,534) in the same period of 2019[72]. - The income tax expense changed from a tax credit of approximately MYR 2.6 million for the nine months ended March 31, 2019, to an income tax expense of approximately MYR 1.3 million for the nine months ended March 31, 2020[100]. Corporate Governance and Structure - The audit committee consists of three independent non-executive directors as of March 31, 2020, ensuring robust oversight of financial reporting and compliance with GEM listing rules[118]. - The company has adopted and complied with the corporate governance code since its listing on December 9, 2019, with some deviations noted regarding the separation of roles between the chairman and CEO[122]. - The board believes that the current management structure, with the chairman also serving as CEO, is in the best interest of the group for effective management and business planning[122]. Future Outlook and Strategy - The company is focused on improving operational efficiency and exploring new market opportunities to enhance future performance[12]. - The company is focused on expanding its market presence through strategic initiatives, including potential mergers and acquisitions in the technology sector[27]. - The company is focusing on expanding its information and communication services to respond to market demands[87]. - The company anticipates challenges in the coming years due to current economic instability affecting multiple markets[84]. - The report includes forward-looking statements regarding the group's financial condition and operational performance, acknowledging potential risks and uncertainties[128].

Financial Performance - For the six months ended December 31, 2019, the group's revenue was approximately RM 19.6 million, a decrease of 9.9% compared to RM 21.7 million in the same period last year[9]. - Gross profit for the same period decreased by 15.7% to approximately RM 8.0 million from RM 9.5 million in the previous year[10]. - The group reported a loss of approximately RM 0.9 million for the six months ended December 31, 2019, while profit excluding listing expenses and tax credits would be approximately RM 4.6 million, a decrease of 34.9% from RM 7.1 million in the previous year[10]. - Basic loss per share for the period was (0.44) sen compared to earnings of 1.40 sen in the same period last year[13]. - Total comprehensive loss for the period was RM 2.1 million, compared to a profit of RM 2.5 million in the same period last year[13]. - The company reported a pre-tax profit of RM 339,833 for the six months ended December 31, 2019, compared to RM 4,690,999 for the same period in 2018, showing a decline of approximately 92.8%[30]. - The company experienced a cash outflow from operating activities of RM 3,698,755 for the six months ended December 31, 2019, contrasting with a cash inflow of RM 7,258,457 for the same period in 2018[30]. - The total cost of inventory recognized as an expense for the six months ended December 31, 2019, was RM 1,446,155, compared to RM 772,392 in the same period of 2018[79]. - The total depreciation of property, plant, and equipment for the six months ended December 31, 2019, was RM 1,388,811, down from RM 1,529,432 in the same period of 2018[79]. - The company incurred a net foreign exchange loss of RM (211,147) for the six months ended December 31, 2019, compared to a gain of RM 295,908 in the same period of 2018[76]. Revenue Breakdown - The company reported total revenue of RM 19,575,146 for the six months ended December 31, 2019, compared to RM 21,714,246 for the same period in 2018, representing a decrease of approximately 9.9%[67]. - Hardware sales generated RM 2,912,905 in revenue for the six months ended December 31, 2019, up from RM 808,754 in the same period of 2018, indicating a significant increase[67]. - The company’s total revenue from network connection services was RM 10,065,783 for the six months ended December 31, 2019, compared to RM 9,811,242 for the same period in 2018, showing an increase of approximately 2.6%[67]. - The company’s revenue from network management and security services was RM 2,395,555 for the six months ended December 31, 2019, compared to RM 3,954,729 in the same period of 2018, reflecting a decrease of about 39.4%[67]. - The company’s total revenue from customer contracts related to leased hardware was RM 16,464,232 for the six months ended December 31, 2019, compared to RM 19,193,456 for the same period in 2018, a decline of approximately 14.3%[67]. Assets and Liabilities - As of December 31, 2019, the total assets amounted to RM 58,488,648, an increase from RM 34,987,835 as of June 30, 2019, reflecting a growth of approximately 67.1%[19]. - Total liabilities as of December 31, 2019, were RM 14,701,055, a slight decrease from RM 15,630,277 as of June 30, 2019, representing a reduction of about 5.9%[19]. - The company’s equity attributable to owners was RM 54,122,835 as of December 31, 2019, compared to RM 31,369,654 as of June 30, 2019, reflecting a growth of about 72.3%[19]. - The company’s cash and cash equivalents increased to RM 21,028,617 as of December 31, 2019, compared to RM 9,307,471 as of June 30, 2019, representing a growth of about 125.5%[19]. - The company’s total liabilities, including trade payables and accrued expenses, amounted to 4,179,520 MYR as of December 31, 2019, down from 6,620,610 MYR, indicating a reduction of about 37%[104]. Strategic Initiatives - The company aims to enhance its market presence and explore new product development opportunities in the upcoming quarters[8]. - The management is focused on cost control measures to improve profitability moving forward[8]. - The company is actively seeking strategic partnerships to expand its market reach and operational capabilities[8]. - Future guidance indicates a cautious outlook due to market volatility and competitive pressures[8]. - The company aims to enhance its market position and competitiveness through the financial resources obtained from its listing[123]. Shareholder Information - The company declared dividends totaling RM 1,350,000 during the reporting period, which included RM 500,000 and RM 850,000 on different dates[27]. - The company did not recommend any interim dividend for the six months ended December 31, 2019, consistent with the previous year[88]. - Tan Datuk holds 337,500,000 shares, representing 56.25% of the company's equity[172]. - Advantage Sail Limited, beneficially owned by Tan Datuk, holds 303,750,000 shares, accounting for 50.625% of the issued shares[173]. - Robust Cosmos Limited, beneficially owned by Ms. Kwong, holds 33,750,000 shares, which is 5.625% of the issued shares[173]. Governance and Compliance - The audit committee consists of three independent non-executive directors, ensuring compliance with financial reporting standards[177]. - The company’s financial statements for the six months ended December 31, 2019, were prepared in accordance with applicable accounting standards[180]. - The company adopted and complied with the corporate governance code since its listing on December 9, 2019, with some deviations noted[181]. - All directors confirmed compliance with the trading standards from the listing date until December 31, 2019[182]. - The board consists of executive and independent non-executive directors, ensuring a balanced governance structure[190].