Financial Performance - Revenue increased from approximately MYR 217.8 million for the year ended June 30, 2023, to approximately MYR 329.3 million for the year ended June 30, 2024[6]. - Gross margin decreased from approximately 5.6% for the year ended June 30, 2023, to approximately 2.5% for the year ended June 30, 2024[6]. - The company recorded a profit attributable to owners of approximately MYR 3.0 million for the year ended June 30, 2024, compared to a loss of approximately MYR 8.2 million for the year ended June 30, 2023[6]. - Revenue increased by approximately 111.5 million Ringgit or 51.2% from about 217.8 million Ringgit for the year ended June 30, 2023, to about 329.3 million Ringgit for the year ended June 30, 2024[10]. - Revenue from marine construction services accounted for approximately 93.8% of total revenue, increasing by about 125.2 million Ringgit or 68.2% from approximately 183.6 million Ringgit to about 308.8 million Ringgit[11]. - Revenue from land and infrastructure services increased by about 1.5 million Ringgit or 9.0% from approximately 16.7 million Ringgit to about 18.2 million Ringgit[12]. - Revenue from the marine fuel trading business decreased by about 15.2 million Ringgit or 86.9% from approximately 17.5 million Ringgit to about 2.3 million Ringgit[14]. - Gross profit decreased by about 4.0 million Ringgit or 32.5% from approximately 12.3 million Ringgit to about 8.3 million Ringgit, with overall gross margin dropping from approximately 5.6% to about 2.5%[15]. - Other income increased from approximately 3.3 million Ringgit to about 5.8 million Ringgit, mainly due to additional income from subcontractors and suppliers related to marine transport activities[16]. Contracts and Tenders - The company is actively monitoring new project invitations and has secured new contracts during the fiscal year[7]. - The company has 6 ongoing marine construction contracts with a total original contract value of approximately 1,365.5 million Ringgit as of June 30, 2024[9]. - The company submitted 5 tenders and 2 quotations with an expected total contract value of approximately 1,789.8 million Ringgit as of June 30, 2023[9]. - The company has secured 3 contracts with an original contract value of approximately 564.0 million Ringgit for the year ended June 30, 2024[9]. - The company anticipates submitting additional tenders and quotations with an expected total contract value of approximately 177.2 million Ringgit, with results still pending as of June 30, 2024[9]. - The company has secured new contracts totaling approximately 564.0 million Malaysian Ringgit, including a modern courthouse complex and land reclamation projects in Johor, Malaysia[42]. Corporate Governance - Commitment to high standards of corporate governance in line with the Hong Kong Stock Exchange's guidelines[7]. - The company has maintained a commitment to corporate governance, with independent directors overseeing audit and remuneration committees[50]. - The company has complied with all applicable corporate governance codes as of the report date[70]. - The company confirmed adherence to the standard code for securities transactions by directors during the reporting period[71]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced composition for effective decision-making[132]. - The board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, with a majority of independent non-executive directors in each committee[145]. Financial Position - As of June 30, 2024, the company had cash and cash equivalents of approximately 94.1 million MYR, an increase from 77.5 million MYR as of June 30, 2023[23]. - The current ratio decreased from approximately 2.1 times as of June 30, 2023, to about 1.7 times as of June 30, 2024, due to increased subcontracting costs and reduced gross margins[23]. - The debt-to-equity ratio improved from approximately 10.9% as of June 30, 2023, to about 8.2% as of June 30, 2024, due to a reduction in total bank loans and lease liabilities[23]. - Trade receivables and contract assets impairment reversal amounted to approximately 5.7 million MYR for the year ended June 30, 2024, compared to an impairment loss of about 5.8 million MYR for the year ended June 30, 2023[18]. - General and administrative expenses increased by approximately 1.3 million MYR or 8.7% to about 16.2 million MYR for the year ended June 30, 2024, primarily due to increased employee costs[19]. - Financial costs decreased from approximately 1.4 million MYR for the year ended June 30, 2023, to about 1.0 million MYR for the year ended June 30, 2024, mainly due to a reduction in bank loan balances[20]. Employee and Management - The total number of full-time employees increased from 55 on June 30, 2023, to 64 on June 30, 2024, to expand business activities[40]. - The company emphasizes the importance of employee welfare and has policies in place to ensure a safe and healthy working environment[65]. - The executive team has a combined experience of over 97 years in the construction and project management sectors, enhancing operational efficiency and strategic decision-making[48]. - The company regularly evaluates employee performance to ensure accountability and reward excellence[124]. - The company aims to maintain at least 35% female employees by the fiscal year ending June 30, 2025, and 40% by June 30, 2028[158]. Environmental, Social, and Governance (ESG) - The company recognizes the importance of sustainable development and integrates it into its business decision-making processes[8]. - The group is committed to environmental compliance and has established an environmental management system to mitigate pollution and promote sustainability[63]. - The company aims to integrate ESG considerations into its decision-making processes through a top-down approach[185]. - The company has identified several significant environmental, social, and governance (ESG) risks, including board structure risk and corporate monitoring risk, which could impact governance performance[189]. - The company is committed to enhancing its ESG performance and transparency as part of its long-term sustainability strategy[183]. Shareholder Communication and Dividends - The company did not recommend any final dividend for the year ended June 30, 2024, consistent with the previous year[23]. - The board will continue to review the dividend policy and retains the right to update or modify it at any time[67]. - The company has adopted a shareholder communication policy to ensure timely distribution of financial performance and strategic goals to shareholders[176]. - Shareholders holding at least 10% of the paid-up capital have the right to request the board to convene a special general meeting to address specified matters[171]. Risk Management - The board is responsible for maintaining effective risk management and internal control systems, with annual audits conducted[161]. - The audit committee is responsible for reviewing the effectiveness of the risk management and internal control systems at least annually, covering all significant controls[163]. - The company has implemented a whistleblowing policy allowing stakeholders to report concerns confidentially and anonymously, with no misconduct cases reported for the year ended June 30, 2024[163]. - The company is actively exploring climate transition risk mitigation measures, including the feasibility of an internal carbon pricing system to address the impact of transition risks on operations[190].
JBB Builders(01903) - 2024 - 年度财报