Financial Performance - For the six months ending December 31, 2024, the company reported revenue of 44,193 thousand Ringgit, a decrease of 31.7% compared to 64,699 thousand Ringgit for the same period in 2023[2]. - The cost of sales for the same period was 40,270 thousand Ringgit, resulting in a gross profit of 3,923 thousand Ringgit, compared to a gross profit of 2,632 thousand Ringgit in the previous year[2]. - The company incurred a net loss of 6,800 thousand Ringgit for the current period, compared to a net loss of 10,566 thousand Ringgit in the previous year, indicating an improvement of 35.5%[3]. - The basic loss per share for the current period was 0.62 Ringgit, an improvement from 1.01 Ringgit in the previous year[3]. - The total comprehensive loss for the period was (8,808) thousand Ringgit, compared to (9,882) thousand Ringgit in the previous year, indicating a reduction of 10.8%[3]. - The group reported a loss before tax of 6,796 thousand MYR, indicating challenges in operational efficiency[18]. - The group reported a net loss before tax of 10,563 thousand MYR for the six months ended December 31, 2023[19]. - The group experienced a loss attributable to shareholders of approximately RM6.2 million, an improvement from RM10.1 million in the previous year, primarily due to increased gross profit in Malaysia[57]. Expenses and Cost Management - Administrative expenses amounted to 9,126 thousand Ringgit, down from 10,403 thousand Ringgit, reflecting a reduction of 12.3%[2]. - The group incurred an administrative expense of 9,126 thousand MYR, impacting overall profitability[18]. - The company reported a decrease in selling and distribution expenses to (225) thousand Ringgit from (450) thousand Ringgit, a reduction of 50%[2]. - Employee benefits expenses for the six months ending December 31, 2024, are reported at 14,128 thousand Ringgit, a decrease from 15,124 thousand Ringgit in 2023[31]. - Selling and distribution expenses were approximately 0.2 million MYR, down from 0.5 million MYR in 2023, primarily due to reduced employee and related expenses[89]. - The depreciation expense for property, plant, and equipment in the operational segment was 521 thousand MYR for the six months ended December 31, 2023[20]. Assets and Liabilities - As of December 31, 2024, total assets amounted to 172,757 thousand, an increase from 165,712 thousand[5]. - Current liabilities decreased to 84,563 thousand from 92,400 thousand, indicating improved liquidity[5]. - Total equity increased to 98,424 thousand from 107,232 thousand, reflecting a positive trend in shareholder value[6]. - The company’s total liabilities decreased to 99,061 thousand from 108,207 thousand, reflecting a decrease in overall debt[5]. - The company’s non-current liabilities decreased to 637 thousand from 975 thousand, suggesting reduced long-term debt obligations[6]. - The trade receivables as of December 31, 2024, amounted to 76,945 thousand Ringgit, a slight increase from 75,238 thousand Ringgit as of June 30, 2024[40]. - The total trade receivables after deducting impairment losses stood at 53,958 thousand Ringgit as of December 31, 2024, compared to 52,123 thousand Ringgit previously[40]. Revenue Sources and Market Focus - The company’s revenue from operations in Malaysia and China remains a key focus area for growth and expansion[9]. - The group reported total revenue of 44,193 thousand MYR for the six months ended December 31, 2024, with external customer revenue from civil engineering projects contributing 35,011 thousand MYR[18]. - Revenue from civil engineering projects in Malaysia increased from RM28.8 million to RM35.0 million, representing a growth of approximately 21.8%[62]. - Revenue from civil and structural engineering in Malaysia increased by approximately 13.6% from RM31.8 million to RM36.1 million[60]. - Revenue from civil and structural engineering in China decreased from RM27.6 million to RM8.1 million, with a gross profit decline from RM0.8 million to RM0.2 million, resulting in a gross margin of approximately 2.4%[55]. - The group recorded no revenue from oil and related products trading in China during the period, down from RM5.3 million in the previous year[56]. Strategic Initiatives and Future Plans - The company is focusing on improving operational efficiency and reducing costs to enhance profitability in future periods[2]. - The company plans to explore strategic acquisitions to bolster its market presence in the region[9]. - The group aims to diversify its business and explore new projects and investment opportunities, including energy-related processing and logistics[76]. - The company plans to continue expanding its market presence and exploring new strategies for growth in the upcoming fiscal year[19]. - The company is actively engaged in research and development of new technologies to enhance its service offerings[9]. - The company is focusing on improving cash flow and financial stability by slowing down new project negotiations and concentrating on trade receivables and contract asset collection[69]. Taxation and Compliance - The corporate income tax rate for subsidiaries in Malaysia is set at 24%, with no tax provisions due to lack of taxable profits as of December 31, 2024[34]. - The corporate income tax for the subsidiary in Hainan is at a preferential rate of 15% from January 1, 2020, to December 31, 2024[35]. - Several Chinese subsidiaries qualify as small and micro enterprises, benefiting from a reduced tax rate of 12.5% on taxable income up to 1 million RMB[36]. - The group’s income tax expense for the period was approximately 4,000 MYR, an increase from 3,000 MYR in 2023, primarily due to a decrease in overall revenue and profit[95]. Corporate Governance and Compliance - The company has adopted corporate governance standards and has complied with all applicable corporate governance codes during the reporting period[123]. - The audit committee, consisting of three independent non-executive directors, has reviewed and approved the interim financial results for the period[125]. - The interim results announcement will be published on the company's and the stock exchange's websites, with the interim report for the six months ending December 31, 2024, to be sent to shareholders in due course[126].
TBKS HLDGS(01960) - 2025 - 中期业绩