Financial Performance - For the three months ended February 28, 2021, the revenue was RM 1,842,000, a decrease of 19% compared to RM 2,270,000 for the same period in 2020[14]. - The gross profit for the period was RM 657,000, representing a 19.9% increase from RM 548,000 in the previous year[14]. - Administrative expenses decreased to RM 1,783,000, down 15% from RM 2,096,000 in the same period last year[14]. - The loss before income tax was RM 1,111,000, which is a 28.2% improvement compared to a loss of RM 1,549,000 in the prior year[14]. - The total comprehensive loss for the period was RM 1,111,000, compared to RM 1,549,000 for the same period in 2020[18]. - Loss per share for the period was RM 0.28, an improvement from RM 0.40 in the previous year[18]. - The Group recorded a loss of approximately RM1.1 million for the three months ended 28 February 2021, compared to a loss of approximately RM1.5 million for the three months ended 29 February 2020[106]. - The Group's loss attributable to owners for the period was RM1,111,000, compared to RM1,549,000 for the same period in 2020[73]. Revenue Breakdown - IT outsourcing services revenue increased significantly to RM 702,000, compared to RM 189,000 in the prior year, representing a growth of 271%[55]. - Revenue for IT outsourcing services increased by over 2.5 times from approximately RM189,000 for the three months ended 29 February 2020 to approximately RM702,000 for the three months ended 28 February 2021[94]. - Revenue for maintenance and consultancy services increased by approximately 32.7% from approximately RM150,000 for the three months ended 29 February 2020 to approximately RM199,000 for the three months ended 28 February 2021[95]. - Revenue from system integration and development services decreased by approximately 51.3% from RM1.9 million for the three months ended 29 February 2020 to RM0.9 million for the three months ended 28 February 2021[86]. - The decrease in revenue was primarily attributed to delays in project completion due to the COVID-19 pandemic and the implementation of the Movement Control Order by the Malaysian Government[86]. COVID-19 Impact - The COVID-19 pandemic and related control measures have caused significant disruptions, leading to project delays of approximately 10 months and a drop in revenue from system integration and development services by more than 50%[115]. - The Group has implemented numerous precautionary measures and flexible working arrangements to mitigate the adverse impact of the COVID-19 pandemic on its operations[116]. - The Malaysian Government's Proclamation of Emergency is expected to last until 1 August 2021, affecting customer investment in IT projects[93]. - The Board anticipates that customers will continue to implement smaller incremental projects rather than large-scale IT transformations throughout 2021[93]. - The COVID-19 pandemic has impacted the Group's operations, leading to delays in securing new projects and customer acquisition due to travel restrictions[142]. Equity and Financial Position - As of February 28, 2021, total equity stood at RM 20,963,000, down from RM 22,074,000 at the end of the previous reporting period[20]. - The Group has not early adopted new/revised IFRSs that have been issued but are not yet effective, and no material impact is anticipated from future adoptions[33]. - The Group's financial performance is assessed based on the types of goods or services delivered or provided[34]. - The preparation of the financial statements requires management to make judgments, estimates, and assumptions that may differ from actual results[28]. Future Business Strategy - The Group's future business strategy includes becoming a major IT solution provider for digitalization in Malaysia and diversifying service offerings[119]. - The Group is developing an advanced version of its mobile payment application, Blackbutton, to localize the product in Malaysia and integrate it with banking infrastructure[127]. - The Group is evaluating potential acquisitions or development of 4 new major intellectual properties to enhance the features of Square Intelligence and CUSTPRO[129]. - The Group has secured a contract with Bursa Malaysia to develop a CDS e-Services solution platform using its product, Square Intelligence[138]. - The Group plans to actively formulate alternative business plans and enhance product offerings to generate sustainable cash inflow[142]. Shareholder Information - Mr. Chong Yee Ping and Mr. Siah Jiin Shyang each hold interests in 196,560,000 shares, representing 50.4% of the Company's issued share capital[183]. - Mr. Liu Yan Chee holds 57,720,000 shares, representing 14.8% of the Company's issued share capital[183]. - Mr. Lam Pang holds 38,220,000 shares, representing 9.8% of the Company's issued share capital[183]. - Delicate Edge Limited and King Nordic Limited each hold 98,280,000 shares, representing 25.2% of the total issued share capital of the Company[184]. - As of February 28, 2021, there were no arrangements for directors or executives to acquire benefits through the acquisition of shares or debentures[188].
九福来(08611) - 2021 Q1 - 季度财报