Financial Performance - The company reported a loss attributable to owners of approximately 9.4 million MYR for the year ended June 30, 2021, compared to a profit of about 2.2 million MYR for the year ended June 30, 2020[11]. - Revenue increased by approximately 15.5 million MYR or 12.4% to about 141.0 million MYR for the year ended June 30, 2021, compared to approximately 125.5 million MYR for the year ended June 30, 2020[22]. - Revenue from offshore construction services accounted for approximately 70.7% of total revenue, increasing by about 56.9 million MYR or 132.6% to approximately 99.8 million MYR for the year ended June 30, 2021[23]. - Revenue from marine transportation increased by approximately 65.9 million MYR or 207.9% to approximately 97.6 million MYR, primarily due to increased sand transportation volume from a new contract in Singapore[24]. - Revenue from building and infrastructure services decreased by approximately 41.4 million MYR or 50.1% to approximately 41.3 million MYR for the year ended June 30, 2021[25]. - Gross profit decreased by approximately 13.1 million MYR or 66.2% to approximately 6.7 million MYR, with overall gross margin dropping from 15.8% to 4.7%[27]. - Other income decreased from approximately 2.4 million MYR to about 1.2 million MYR, mainly due to a decline in interest income from bank deposits[28]. - The group recorded a trade receivables and contract assets impairment loss of approximately 5.1 million Ringgit for the year ended June 30, 2021, compared to 3.0 million Ringgit for the year ended June 30, 2020[30]. - The group reported an income tax expense of approximately 1.8 million Ringgit for the year ended June 30, 2021, down from about 2.2 million Ringgit for the year ended June 30, 2020, due to losses incurred during the year[33]. - Financial costs increased from approximately 147,000 Ringgit for the year ended June 30, 2020, to about 302,000 Ringgit for the year ended June 30, 2021, due to the drawdown of a term loan of approximately 10.6 million Ringgit[34]. Business Operations and Strategy - The ongoing COVID-19 pandemic has caused significant disruptions to the company's operations, impacting its business scale and development momentum[11]. - The company maintains a conservative outlook on its recent business and financial performance due to the uncertainty in the market caused by the pandemic[12]. - The company aims to leverage its strong financial position and ISO certification to actively participate in various tenders and diversify its investments in Malaysia, Singapore, and Hong Kong[14]. - The company plans to optimize its business model and strengthen its market position in offshore construction and building infrastructure services[14]. - The company continues to focus on sustainable development to address uncertainties and unexpected crises in the market[12]. - The group plans to enter the marine fuel trading business, which is expected to enhance profit margins and expand opportunities in the maritime transport value chain[62]. - The group adopts strict cost control measures and actively participates in tenders to maintain market competitiveness amid ongoing uncertainties from the COVID-19 pandemic[62]. - The company aims to diversify its business model and actively participate in various tenders to strengthen its position in the offshore construction and infrastructure services sectors[63]. Corporate Governance and Management - The company has a strong emphasis on corporate governance and independent judgment from its board members[85][91]. - The company has established a diverse board with members holding various professional qualifications and extensive industry experience[90]. - The group has adopted internal control measures to ensure compliance with relevant laws and regulations, with no significant violations reported for the year[112]. - The group emphasizes the importance of employee contributions and regularly reviews compensation and benefits policies[114]. - The board considers various criteria, including financial performance and future business conditions, when proposing dividends[119]. Shareholder and Financial Position - As of June 30, 2021, the group had cash and cash equivalents of approximately 85.3 million Ringgit, an increase from 76.0 million Ringgit in the previous year[39]. - The group maintained a stable current ratio of approximately 1.8 times as of June 30, 2021, compared to 1.9 times in the previous year[40]. - The total bank loans and lease liabilities increased from approximately 1.3 million Ringgit as of June 30, 2020, to about 11.4 million Ringgit as of June 30, 2021[40]. - The group had unutilized bank financing facilities of approximately 56.4 million Ringgit as of June 30, 2021, compared to 47.0 million Ringgit in the previous year[39]. - The reserves available for distribution to shareholders as of June 30, 2021, amount to approximately 104.3 million MYR[150]. Risks and Challenges - The company reported a significant reliance on non-recurring contracts, with future business dependent on the ability to secure new contracts after existing ones are completed[101]. - The company's profitability may be adversely affected by delays or changes in large contracts, which can lead to unexpected increases in project costs[102]. - The overall economic conditions and government policies in the construction industry are critical, as downturns can reduce demand for the company's services[105]. - The impact of the COVID-19 pandemic has introduced uncertainty in future market conditions, potentially leading to project delays and increased competition[106]. - The company faces risks related to delayed customer payments, which can significantly affect its financial condition and operational performance[107]. Community and Environmental Initiatives - The company received the InnoESG Prize 2021 for its environmental, social, and governance initiatives, awarded by a consortium of organizations[12]. - Environmental compliance measures have been implemented, including sediment control and air quality monitoring, to ensure adherence to environmental policies[110]. - The company made charitable donations totaling approximately 144,000 MYR during the fiscal year ending June 30, 2021, compared to 250,000 MYR in the previous year[155]. - JBB Builders is actively involved in community service and has members participating in various advisory committees[92]. Employee and Compensation Policies - The group has implemented a stock option plan to incentivize employees and align their interests with the company's[130]. - The stock option plan allows for the granting of options to eligible participants for a period of ten years[131]. - The group has complied with the corporate governance code as per the listing rules during the reporting period[124]. - The group had 51 employees as of June 30, 2021, down from 62 in 2020[114].
JBB Builders(01903) - 2021 - 年度财报