Financial Performance - Nomad Technologies Holdings Limited reported a revenue increase of 4.5% for the fiscal year ending June 30, 2021, despite challenges posed by the COVID-19 pandemic[10]. - The group's overall revenue increased by 7% compared to the previous year, despite the challenges posed by the COVID-19 pandemic[15]. - Revenue increased from approximately RM 37.1 million for the year ended June 30, 2020, to approximately RM 39.8 million for the year ended June 30, 2021, representing a growth of 7.3%[40]. - Revenue from network support services rose by approximately RM 1.7 million or 17.5% to RM 11.4 million, while revenue from network management and security services decreased by RM 1.3 million or 31.0% to RM 2.9 million due to COVID-19 impacts[41]. - Revenue from network connectivity services increased by approximately RM 2.4 million or 11.1% to RM 24.1 million, driven by new contracts with existing and new customers[41]. - Total comprehensive loss increased by approximately RM 1.7 million or 283.3% to RM 2.3 million, influenced by increased revenue, higher costs, and administrative expenses[52]. Strategic Initiatives - The company aims to strengthen its position as a key player in the Malaysian information and communication technology sector following its successful listing on the Hong Kong Stock Exchange on December 9, 2019[10]. - The group plans to expand its network support and connectivity services into markets outside Malaysia, specifically targeting Hong Kong and mainland China[17]. - In July 2021, the group acquired 100% of the shares of MiChong Technology Holdings Limited and its subsidiary, enhancing its capabilities in IT services and cloud security[17]. - A strategic cooperation agreement was established with Hangzhou Super Technology Co., Ltd. to provide cloud computing and blockchain-based internet solutions from October 2021 to December 2024[17]. - The group remains optimistic about business expansion despite the uncertain economic environment, leveraging financial resources obtained from its listing[16]. Economic Environment - Malaysia's economic growth forecast for 2021 has been revised down to 4.5% from an earlier estimate of 6.0% due to the resurgence of COVID-19 cases and slower vaccine rollout[10]. - The company emphasizes the importance of effective management measures to mitigate the impact of the pandemic on individuals, families, and businesses[11]. - Future recovery policies should include conditional wage subsidies and improved loan approval processes to support business liquidity[11]. - The company is focused on long-term structural reforms to achieve a private sector-led economic recovery post-pandemic[11]. - The group acknowledges the ongoing uncertainty in the market, which has led to a cautious approach towards new projects and expenditures[22]. Operational Adjustments - The company acknowledges the need for cautious spending and expansion in light of the ongoing global pandemic[10]. - The group aims to streamline its management systems and adjust its operational and sales strategies in response to ongoing market challenges[15]. - The company is committed to closely monitoring the impact of COVID-19 on its financial status and operational performance, taking necessary measures to maintain business stability[22]. - The group has implemented strict health measures in the office to monitor and mitigate the impact of COVID-19 on operations[33]. - The group is focused on developing existing businesses cautiously while seeking better opportunities to mitigate adverse impacts from current market volatility[28]. Governance and Compliance - The management is committed to ensuring the accuracy and completeness of the financial report, confirming no misleading information is present[5]. - The board has established effective risk management and internal control systems to safeguard the group's assets and shareholder interests[30]. - The board report includes audited consolidated financial statements for the year ending June 30, 2021[110]. - The audit committee reviewed the consolidated financial statements for the fiscal year ending June 30, 2021, ensuring compliance with applicable reporting standards[182]. - The board emphasizes the importance of good corporate governance standards to protect shareholder interests and enhance company value[196]. Shareholder Information - The board did not recommend a final dividend for the year ended June 30, 2021, consistent with no dividends declared for the previous year[67]. - The available reserves for distribution as of June 30, 2021, were approximately 36.6 million MYR, compared to 37.9 million MYR in 2020[127]. - The company has maintained sufficient public float, with 25% of the issued shares held by the public as of June 30, 2021[186]. - The controlling shareholder has confirmed compliance with a non-competition agreement as of November 11, 2019[144]. - As of June 30, 2021, Tan has a controlled interest of 337,500,000 shares, representing approximately 56.25% of the company[149].
比特元宇宙(08645) - 2021 - 年度财报