Financial Performance - Revenue for the year ended December 31, 2019, was RM 71,526,000, representing a 6.6% increase from RM 67,095,000 in 2018[2] - Gross profit increased by 10.8% to RM 29,622,000 in 2019, up from RM 26,733,000 in 2018[2] - Profit before income tax expense rose by 14.4% to RM 19,015,000 compared to RM 16,615,000 in the previous year[2] - Profit for the year, excluding listing expenses, was RM 16,593,000, a 5.0% increase from RM 15,804,000 in 2018[2] - The Group recorded a revenue increase of 6.6% from approximately RM67.1 million in 2018 to approximately RM71.5 million in 2019[11] - Gross profit increased by approximately RM2.9 million or 10.8%, from approximately RM26.7 million in 2018 to approximately RM29.6 million in 2019, with a gross profit margin rise from 39.8% to 41.4%[11] - Profit for the year increased by approximately RM1.3 million or 10.8%, from approximately RM11.8 million in 2018 to approximately RM13.1 million in 2019, despite one-off listing expenses totaling approximately RM26.6 million[12] - Revenue increased by approximately RM4.4 million or 6.6% from RM67.1 million in 2018 to RM71.5 million in 2019[22] - Net profit rose by approximately 10.8% from RM11.8 million in 2018 to RM13.1 million in 2019[22] Assets and Liabilities - Total assets increased by 16.6% to RM 70,234,000 in 2019 from RM 60,244,000 in 2018[2] - Current ratio improved to 7.5 times in 2019 from 5.3 times in 2018, indicating better liquidity[2] - Gearing ratio decreased to 34.1% from 52.7%, reflecting a reduction in debt levels[2] - Net current assets increased from approximately RM34.6 million as at 31 December 2018 to approximately RM46.6 million as at 31 December 2019, an increase of approximately 34.8%[45] - Current liabilities increased from RM2,042 thousand as of 31 December 2018 to RM2,189 thousand as of 31 December 2019, with bank loans rising from RM1,975 thousand to RM2,118 thousand[64] - Non-current liabilities decreased from RM16,736 thousand as of 31 December 2018 to RM14,504 thousand as of 31 December 2019, with bank loans decreasing from RM16,431 thousand to RM14,270 thousand[64] Shareholder Information - Shareholders' equity grew by 37.4% to RM 47,992,000 compared to RM 34,939,000 in the previous year[2] - Basic and diluted earnings per share increased to 2.2 cents from 2.0 cents, marking a 10.8% rise[2] - The company issued a total of 200,000,000 shares at HK$0.63 each on March 26, 2020, and was listed on the Main Board of the Stock Exchange on March 27, 2020[105] - The company allotted and issued 599,999,800 ordinary shares credited as fully paid at par to two entities on March 27, 2020, as part of a capitalization of HK$5,999,998 from the share premium account[105] - As of December 31, 2019, the company had 800,000,000 shares issued[148] Strategic Plans and Market Position - The Group aims to upgrade its IT infrastructure and expand capacity to host the Streamline Electronic Document Warehouse (EDW) through SaaS in a Tier 3 data center in Cyberjaya, Malaysia[15] - The Group plans to leverage the COVID-19 pandemic as an opportunity to increase market share by providing essential services effectively during the Movement Control Order[18] - The adoption of SaaS for software application solutions is expected to increase demand for the Group's services from existing and new customers[14] - The company plans to expand its data processing and technical capacity by building a new data center[23] - The company aims to strengthen relationships with existing customers and capture new customers in Malaysia and Singapore[23] - The company intends to pursue strategic acquisitions and business opportunities to enhance market presence[23] Governance and Management - The Group has established a governance structure with independent directors overseeing key appointments and performance accountability[102] - The Board will continue to review and consider splitting the roles of chairman and chief executive officer at an appropriate time[74] - Mr. Lee Yan Kit has been appointed as an Independent Non-Executive Director since March 11, 2020, and is a member of the Audit, Remuneration, and Nomination Committees[90] - Ms. Eugenia Yang was appointed as an Independent Non-Executive Director on March 11, 2020, and has served on multiple committees including Audit and Remuneration[97] Compliance and Risk Management - The Group complied with all relevant Malaysian laws and regulations regarding intellectual property, with no claims or litigation related to intellectual property rights during 2019[185] - The Group adhered to all Malaysian employment laws, including the Employment Act 1955 and the Minimum Wages Order 2020, without incurring penalties or experiencing significant disputes with employees[187] - The Group's compliance with taxation laws included the Income Tax Act 1967 and the Goods and Services Tax 2014, with efforts to enhance staff understanding of applicable tax regulations[187] - The Group's operations are governed by significant laws and regulations, with no material breaches reported during the year ended December 31, 2019[184] - The Group's risk management policy aligns with Bank Negara Malaysia's expectations regarding technology and risk management frameworks[184] Employee Information - The total remuneration cost for employees amounted to RM8.5 million for the year ended December 31, 2019, a decrease from RM9.4 million in the previous year[79] - The Group had approximately 181 employees as of December 31, 2019[79] - The Group offers on-the-job training and financial subsidies for external training to selected high-potential employees[190] Environmental and Social Responsibility - The Group's operations do not have any material adverse impact on the environment, and it is committed to environmental sustainability by promoting digital solutions and using recycled paper[188] - The Group has implemented internal policies to reduce its carbon footprint, including energy-efficient lighting and automatic power shutdown systems[188]
C-LINK SQ-NEW(01463) - 2019 - 年度财报