Financial Performance - For the fiscal year ending June 30, 2024, total revenue was 288,093 thousand MYR, a decrease from 367,940 thousand MYR in the previous year, representing a decline of approximately 21.7%[1] - Gross profit for the fiscal year was 4,887 thousand MYR, down from 14,224 thousand MYR, indicating a significant drop of about 65.6%[1] - The net loss for the year was 37,906 thousand MYR, compared to a net loss of 8,525 thousand MYR in the previous year, reflecting an increase in losses of approximately 344.5%[2] - Total comprehensive loss for the year amounted to 37,234 thousand MYR, compared to 8,373 thousand MYR in the prior year, marking an increase of about 345.5%[2] - The basic and diluted loss per share was reported at 3.27 sen, compared to 0.87 sen in the previous year, representing a significant increase in loss per share[2] - The company reported a net loss before tax of 37,829 thousand RM for the year ending June 30, 2024, highlighting challenges in operational efficiency[21] - The company recorded a pre-tax loss of 21,244 thousand Ringgit for the year ending June 30, 2024, compared to a pre-tax loss of 3,013 thousand Ringgit for the previous year, indicating a significant increase in losses[31] - The company recorded a loss attributable to shareholders of approximately 32.7 million MYR for the current fiscal year, compared to 8.7 million MYR in the previous year[49] Revenue Breakdown - Total revenue for the year ending June 30, 2024, was 288,093 thousand RM, with significant contributions from oil and related products trading at 179,640 thousand RM[21] - Revenue from external customers for the year ending June 30, 2023, was 367,940 thousand RM, with oil and related products contributing 276,246 thousand RM[21] - Revenue from civil and structural engineering projects in China increased from approximately 40.8 million MYR to about 52.5 million MYR, representing a growth of 28.0%[47] - Revenue from civil and structural engineering in Malaysia increased from approximately 50.9 million MYR to about 56.0 million MYR, while gross profit rose from approximately 2.0 million MYR to about 3.6 million MYR, with gross margins of approximately 6.4% and 3.9% respectively[46] - Revenue from oil and related products trade in China decreased by 35.0% from approximately 276.2 million MYR to about 179.6 million MYR[48] Assets and Liabilities - Current assets totaled 165,712 thousand MYR, a decrease from 179,150 thousand MYR, representing a decline of approximately 7.5%[4] - Current liabilities increased to 73,312 thousand MYR from 52,007 thousand MYR, indicating a rise of about 40.9%[4] - The company's cash and cash equivalents decreased to 28,858 thousand MYR from 45,928 thousand MYR, a decline of approximately 37.2%[4] - Non-current assets were reported at 15,807 thousand MYR, down from 18,552 thousand MYR, reflecting a decrease of about 14.8%[3] - The company's equity attributable to owners was 110,919 thousand MYR, a decrease from 143,014 thousand MYR, indicating a decline of approximately 22.4%[5] - The group’s total liabilities increased to 67,964 million MYR in 2024 from 36,271 million MYR in 2023, reflecting a significant rise of 87.5%[42] Impairment and Credit Losses - The company recorded a trade receivables and contract assets impairment loss of 21,277 thousand Ringgit for the year ending June 30, 2024, compared to 3,548 thousand Ringgit in the previous year, representing a substantial increase in impairment losses[31] - The expected credit loss for trade receivables, contract assets, and other receivables was recognized at approximately 22.1 million MYR, significantly up from 1.7 million MYR in the previous year[77] - The provision for expected credit losses as of June 30, 2024, included approximately 23.0 million MYR for trade receivables, compared to 3.3 million MYR in the previous year, indicating increased credit risk due to delayed customer payments[77] Operational Challenges - The group faced challenges in securing new projects and rising material costs, impacting overall performance in Malaysia[46] - The company has experienced a notable increase in revenue from civil engineering projects, with external customer revenue reaching 51,522 thousand RM for the year ending June 30, 2024[21] - The company is focused on enhancing its market presence in Malaysia and China, particularly in civil and structural engineering sectors[19] - The company faces challenges in Malaysia due to rising material costs and a shrinking market share, leading to intensified bidding processes[63] Future Outlook and Strategies - The company plans to apply the new International Financial Reporting Standards (IFRS) amendments starting from January 1, 2024, which will not have a significant impact on the consolidated financial statements[13] - The company plans to diversify its business by reviewing existing operations and exploring new investment opportunities, including energy-related processing and logistics[62] - The company is taking a cautious approach to its operational and investment strategies due to the complex business environment influenced by geopolitical tensions and inflation pressures[100] - The group plans to closely monitor economic conditions and adjust business strategies as necessary to improve performance[45] Corporate Governance and Compliance - The company is committed to good corporate governance to enhance shareholder value and has adhered to applicable corporate governance codes during the financial year[105] - The audit committee, consisting of three independent non-executive directors, reviewed the consolidated financial statements for the year ending June 30, 2024[106] - The financial statements have been prepared in accordance with applicable accounting standards and regulations, ensuring adequate disclosure[106] Employee and Workforce Management - Employee costs totaled 30,032 thousand Ringgit for the year ending June 30, 2024, up from 28,014 thousand Ringgit in the previous year, reflecting a year-over-year increase of approximately 7.2%[31] - The group has 513 employees as of June 30, 2024, compared to 510 employees in 2023[95] - The group intends to expand its workforce, including hiring project managers and quality control engineers[97] Shareholder Information - The company did not recommend any dividends for the year ending June 30, 2024, consistent with the previous year[36] - The group has not proposed any final dividend for the fiscal year, consistent with the previous year[86]
TBKS HLDGS(01960) - 2024 - 年度业绩