Financial Performance - Revenue for the six months ended December 31, 2024, was RM 44,193,000, a decrease of 31.7% compared to RM 64,699,000 for the same period in 2023[5]. - Gross profit increased to RM 3,923,000, up 49.0% from RM 2,632,000 year-over-year[5]. - Net loss for the period was RM 6,800,000, an improvement from a net loss of RM 10,566,000 in the previous year, representing a 35.5% reduction in losses[6]. - Total comprehensive loss for the period was RM 8,808,000, compared to RM 9,882,000 in the same period last year, indicating a 10.8% improvement[7]. - Basic and diluted loss per share was RM 0.62 sen, an improvement from RM 1.01 sen in the previous year[7]. - The company reported a loss before tax of RM 6,796,000 for the six months ended December 31, 2024, compared to a loss of RM 10,563,000 for the same period in 2023, reflecting an improvement of approximately 35.0%[27][28]. - The group reported a loss attributable to owners of the company of (6,168) thousand MYR for the six months ended December 31, 2024, an improvement from (10,107) thousand MYR in the same period of 2023[44]. Assets and Liabilities - Non-current assets decreased to RM 14,498,000 from RM 15,807,000, reflecting a decline of 8.3%[8]. - Current assets increased to RM 172,757,000, up from RM 165,712,000, showing a growth of 4.5%[8]. - Total liabilities increased to RM 88,194,000 from RM 73,312,000, representing a rise of 20.3%[9]. - Total equity decreased to RM 98,424,000 from RM 107,232,000, a decline of 8.2%[9]. - Cash and cash equivalents stood at RM 29,739,000, slightly up from RM 28,858,000, indicating a 3.1% increase[8]. - Trade receivables as of December 31, 2024, amounted to 75,238,000 MYR, a decrease from 76,945,000 MYR as of June 30, 2024, with an impairment loss provision of 23,115,000 MYR[48]. - Trade payables as of December 31, 2024, were 43,057,000 MYR, a decrease from 53,864,000 MYR as of June 30, 2024[53]. Cash Flow - For the six months ended December 31, 2024, the company reported a net cash inflow from operating activities of RM 3,510,000, compared to a cash outflow of RM 7,888,000 in the same period of 2023[14]. - The company had a net cash outflow from financing activities of RM 1,007,000 for the period, compared to RM 2,709,000 in the previous year[14]. - The company’s cash and bank balances were RM 12,257,000 at the end of the period, down from RM 17,613,000 in the previous year[15]. - The company’s investment activities generated a net cash inflow of RM 545,000, compared to a cash outflow of RM 36,000 in the same period of 2023[14]. Revenue Segments - The construction segment in Malaysia generated revenue of RM 35,011,000 for the six months ended December 31, 2024, while the oil and related products trade segment reported no revenue during the same period[27]. - Revenue from civil and structural engineering in Malaysia increased from approximately 31.8 million MYR to about 36.1 million MYR, representing a growth of approximately 13.6%[71]. - The revenue from civil and structural engineering in China decreased from approximately 27.6 million MYR to about 8.1 million MYR, with a gross margin of approximately 2.4%[67]. - The group did not record any revenue from oil and related products trading in China during the review period, compared to 5.3 million MYR in the previous year[82]. Expenses and Costs - The total cost of sales for the six months ended December 31, 2024, was RM 40,270,000, compared to RM 62,067,000 for the same period in 2023, showing a decrease of approximately 35.2%[27][28]. - The company reported administrative expenses of RM 9,126,000 for the six months ended December 31, 2024, compared to RM 10,403,000 for the same period in 2023, indicating a reduction of approximately 12.3%[27][28]. - The impairment loss on trade receivables and contracts for the six months ended December 31, 2024, was RM 267,000, compared to RM 1,951,000 for the same period in 2023, reflecting a decrease of approximately 86.3%[27][28]. Strategic Initiatives - The company plans to adopt new or revised International Financial Reporting Standards (IFRS) effective from July 1, 2024, which are not expected to have a significant impact on the group's performance and financial position[23]. - The company is actively exploring opportunities outside the oil and gas sector to maintain customer relationships and strengthen market position[65]. - The group is exploring new projects and diversifying its business, including opportunities in energy-related processing and logistics[83]. - The company plans to expand its oil trading business in Northern China, aiming to increase its customer base and ensure higher quality oil products[119]. Corporate Governance - The board has confirmed compliance with the corporate governance code throughout the reporting period[133]. - The audit committee was established on September 5, 2019, consisting of three independent non-executive directors[135]. - The interim financial performance for the period has not been audited but has been reviewed and approved by the audit committee[135].
TBKS HLDGS(01960) - 2025 - 中期财报