Financial Performance - For the fiscal year ended June 30, 2020, the company's revenue decreased by approximately 204.4 million MYR to about 125.5 million MYR from 329.9 million MYR for the fiscal year ended June 30, 2019[13]. - The company recorded a profit attributable to owners of the company of approximately 2.2 million MYR for the fiscal year ended June 30, 2020, compared to approximately 19.6 million MYR for the fiscal year ended June 30, 2019[13]. - The company's revenue decreased by approximately 204.4 million MYR or 62.0% from about 329.9 million MYR for the year ended June 30, 2019, to about 125.5 million MYR for the year ended June 30, 2020[23]. - Revenue from offshore construction services accounted for approximately 34.1% of total revenue, decreasing by about 124.8 million MYR or 74.4% to approximately 42.9 million MYR for the year ended June 30, 2020[24]. - Revenue from land reclamation and related works decreased by about 7.8 million MYR or 41.3% to approximately 11.1 million MYR for the year ended June 30, 2020[24]. - Revenue from offshore transportation services decreased by about 117.1 million MYR or 78.7% to approximately 31.7 million MYR for the year ended June 30, 2020[25]. - Revenue from building and infrastructure services accounted for approximately 65.9% of total revenue, decreasing by about 79.5 million MYR or 49.0% to approximately 82.7 million MYR for the year ended June 30, 2020[27]. - Gross profit decreased by approximately 18.6 million MYR or 48.4% to approximately 19.8 million MYR for the year ended June 30, 2020[28]. - Overall gross profit margin increased from 11.6% for the year ended June 30, 2019, to 15.8% for the year ended June 30, 2020[28]. - Other income increased to approximately 2.4 million MYR for the year ended June 30, 2020, from about 1.7 million MYR for the year ended June 30, 2019[29]. - The net other losses amounted to approximately 1.3 million MYR for the year ended June 30, 2020, compared to a net other income of about 358,000 MYR for the year ended June 30, 2019[30]. - The company recorded a profit attributable to owners of approximately 2.2 million Ringgit for the year ended June 30, 2020, a decrease of about 88.8% compared to approximately 19.6 million Ringgit for the year ended June 30, 2019[36]. Business Strategy and Operations - The company plans to continue developing new business opportunities in Malaysia, Singapore, and Hong Kong, focusing on both public and private sector projects[16]. - The company aims to strengthen its market position in offshore construction and building and infrastructure services[16]. - The company has received conditional approval from the Malaysian Ministry of International Trade and Industry to resume operations at construction sites that had commenced before the enforcement of movement restrictions[13]. - The company will implement strict cost control measures and monitor the development of the COVID-19 pandemic to mitigate potential adverse impacts on business operations and financial performance[15]. - Despite challenges, no contracts have been canceled by clients since the fiscal year ended June 30, 2020, and project progress is expected to gradually resume as the pandemic improves[16]. - The board anticipates a reduction, delay, or cancellation of existing project numbers in the market, increasing industry competition[15]. - The company submitted 4 bids and 13 tenders for contracts with a total estimated value of approximately 1,278.0 million MYR as of June 30, 2020[21]. - The total order amount as of June 30, 2020, was approximately 1,201.1 million Malaysian Ringgit[61]. Financial Position and Capital Management - The company will take appropriate measures, such as raising bank loans, to meet working capital needs when necessary[15]. - The company maintained a stable current ratio of approximately 1.9 times as of June 30, 2020, compared to 1.6 times as of June 30, 2019[40]. - Cash and cash equivalents decreased to approximately 76.0 million Ringgit as of June 30, 2020, from 114.6 million Ringgit as of June 30, 2019, primarily due to net cash outflows from operations[39]. - The company had lease liabilities of approximately 1.3 million Ringgit as of June 30, 2020, down from 2.3 million Ringgit as of June 30, 2019[39]. - The company’s total borrowings, including bank loans and lease liabilities, decreased from approximately 2.8 million Ringgit as of June 30, 2019, to about 1.3 million Ringgit as of June 30, 2020[40]. - The company has reserves available for distribution to shareholders amounting to approximately 109.0 million Ringgit as of June 30, 2020[146]. Employee and Governance - The company has expanded its board with independent non-executive directors to enhance governance and oversight[81]. - The board includes members with extensive backgrounds in finance, accounting, and corporate governance, ensuring a diverse skill set[86]. - The company has adopted a share option scheme to incentivize employees and align their interests with the company's performance[125]. - The share option scheme allows the board to grant options to eligible participants for a period of ten years from the adoption date[127]. - The company emphasizes the importance of employee contributions and regularly reviews compensation and benefits policies[110]. - The board will continuously review the dividend policy and retains the discretion to update or modify it at any time[118]. - The company has not experienced significant changes in its main business operations during the year[97]. - The management team has extensive experience in the construction industry, with key personnel holding relevant qualifications and certifications[94]. - As of June 30, 2020, the company had approximately 62 full-time employees, down from 76 in 2019[60]. Risk Management - The company faces credit risk primarily from individual customer characteristics, with significant credit concentration risk from major customers[48]. - The group has not implemented any foreign exchange hedging policies but monitors foreign exchange risks closely[53]. - The group believes that the interest rate risk from short-term fixed deposits and bank loans is not significant[52]. - The profitability of the company may be adversely affected by delays or changes in large contracts, which can lead to unexpected increases in project costs[100]. - The company's revenue may significantly differ from original contract amounts due to change orders or adjustments issued by clients during project execution[102]. - The overall performance of the company is influenced by the economic conditions of the markets in which it operates, with potential impacts from economic downturns or changes in government policies[103]. - The COVID-19 pandemic has introduced uncertainties that could negatively affect future business performance, including revenue and profitability[104]. Community and Corporate Responsibility - The company is actively involved in community service and supports initiatives for women in flexible work arrangements[89]. - Charitable contributions made by the group during the year amounted to approximately 250,000 Ringgit, compared to 254,000 Ringgit in the previous year[151]. - The company has implemented environmental compliance measures in contracts, including sediment curtain installation and air quality monitoring[106]. - The company has maintained compliance with relevant laws and regulations, with no significant violations reported during the fiscal year ending June 30, 2020[108].
JBB Builders(01903) - 2020 - 年度财报