Construction Projects - The group completed 2 construction projects in the first half of 2021, with a total contract value of approximately MYR 19.9 million[16] - As of April 30, 2021, the group had 11 ongoing construction projects with a total contract value of approximately MYR 1,117.0 million, including 6 factory projects and 5 commercial/ residential projects[19] - The group submitted 10 tenders for factory projects in the first half of 2021, with an expected total contract value of approximately MYR 207.2 million, and secured 6 contracts worth approximately MYR 106.3 million[19] Financial Performance - The group's revenue increased from approximately 94.0 million MYR in the first half of 2020 to approximately 146.1 million MYR in the first half of 2021, representing a growth of 55.4%[26] - Revenue for the six months ended April 30, 2021, was RM 146,056,000, representing a 55.5% increase from RM 93,955,000 in the same period of 2020[78] - The group reported a profit attributable to owners of the company of approximately 14.8 million MYR in the first half of 2021, an increase of 54.2% compared to approximately 9.6 million MYR in the first half of 2020[35] - Profit before tax increased to RM 19,620,000, up 39.5% from RM 14,077,000 in the previous year[78] - Net profit attributable to owners for the period was RM 14,849,000, a 55.5% increase compared to RM 9,584,000 in the prior year[78] Cost and Profitability - The group's gross profit slightly increased from approximately 21.2 million MYR in the first half of 2020 to approximately 22.1 million MYR in the first half of 2021, but the gross profit margin decreased from 22.5% to 15.1%[30] - Recent surges in raw material prices, including rebar and concrete, have led to increased construction costs, which are typically not included in project costs[21] - Employee costs increased from approximately MYR 6.3 million in the first half of 2020 to approximately MYR 7.2 million in the first half of 2021, primarily due to lower daily labor wages during the MCO in March and April 2020[52] Market Conditions - The COVID-19 pandemic continues to create significant uncertainty for the group's business performance, impacting revenue and profitability[21] - The group maintains a conservative outlook on recent business and financial performance due to market uncertainties and intensified competition[21] - The Malaysian government's national COVID-19 immunization plan aims to vaccinate as many residents as possible in the shortest time, which is hoped to aid economic recovery[25] Assets and Liabilities - Total assets as of April 30, 2021, were RM 233,302,000, an increase from RM 214,380,000 as of October 31, 2020[80] - The group's current ratio was approximately 2.72 times as of April 30, 2021, compared to approximately 2.66 times as of October 31, 2020[38] - The group had no outstanding bank borrowings as of April 30, 2021, with an unused bank overdraft facility of approximately 500,000 MYR[41] - The company's total liabilities decreased to 910 thousand MYR as of April 30, 2021, from 1,144 thousand MYR as of October 31, 2020, indicating a reduction of about 20.4%[82] Capital and Equity - The group's capital structure included equity of approximately 169.0 million MYR as of April 30, 2021, up from approximately 154.8 million MYR as of October 31, 2020[40] - The company issued a total of 315,000,000 shares at a price of HKD 0.40 per share, resulting in net proceeds of approximately HKD 73.5 million (about MYR 38.7 million) after deducting related listing expenses[54] - The total number of issued shares increased to 1,260,000,000 as of April 30, 2021, from 944,999,000 shares previously[119] Cash Flow and Liquidity - The company maintained a strong liquidity position with cash and cash equivalents of RM 52,084,000 as of April 30, 2021, compared to RM 44,132,000 at the end of the previous fiscal year[80] - Operating cash flow for the six months ended April 30, 2021, was 15,181 thousand MYR, up from 8,258 thousand MYR in the previous year, reflecting an increase of approximately 83.5%[90] - The company’s net cash and cash equivalents at the end of the period were 52,084 thousand MYR, compared to 33,959 thousand MYR at the same time last year, marking a growth of about 53.3%[90] Employee and Governance - As of April 30, 2021, the company had 180 employees, an increase from 174 employees as of October 31, 2020, with Malaysian workers comprising 136 and foreign workers 44[52] - The company has adopted an employee stock option plan, effective from the listing date, allowing the board to grant options to eligible participants[52] - The company maintains high standards of corporate governance, adhering to all corporate governance code provisions during the first half of 2021[61]
RIMBACO(01953) - 2021 - 中期财报