Financial Performance - For the fiscal year ending October 31, 2025, the total revenue was RM 259,932,000, a decrease of 10.1% from RM 289,184,000 in the previous fiscal year[5] - The cost of services for the same period was RM 246,801,000, down from RM 285,135,000, resulting in a gross profit of RM 13,131,000, compared to RM 4,049,000 in the prior year[5] - The net loss for the year was RM 1,447,000, slightly improved from a loss of RM 1,552,000 in the previous year[5] - The group's revenue for the year ended October 31, 2025, was RM 259,932,000, a decrease of 10.1% from RM 289,184,000 in 2024[15] - Revenue from factory projects was RM 141,519,000, down 8.8% from RM 155,152,000 in the previous year[15] - The group reported a loss of RM 1,447,000 for the year ended October 31, 2025, compared to a loss of RM 1,552,000 in 2024[23] - The gross profit increased from approximately MYR 4.0 million in FY2024 to about MYR 13.1 million in FY2025, with the gross margin rising from 1.4% to 5.1%[47] - The group reported a loss attributable to owners of the company of approximately MYR 1.5 million in FY2025, a decrease of 6.3% compared to a loss of about MYR 1.6 million in FY2024[52] Assets and Liabilities - Total assets decreased to RM 202,012,000 from RM 260,842,000, indicating a reduction of 22.5%[6] - Current liabilities also decreased to RM 115,325,000 from RM 139,750,000, a reduction of 17.5%[6] - Non-current assets were RM 38,886,000, up from RM 31,638,000, reflecting an increase of 22.9%[6] - The company's equity decreased to RM 124,644,000 from RM 151,423,000, a decrease of 17.7%[7] - Trade receivables from customer contracts decreased to MYR 45,880,000 in 2025 from MYR 90,405,000 in 2024, with a net trade receivables amount of MYR 39,833,000[25] - The total amount of trade and other receivables was MYR 56,028,000 in 2025, down from MYR 99,691,000 in 2024[25] - Contract assets increased to MYR 86,187,000 in 2025 from MYR 84,090,000 in 2024, after accounting for impairment losses[28] - Contract liabilities related to customer advances for construction contracts surged to MYR 23,498,000 in 2025 from MYR 2,554,000 in 2024[29] - Trade payables and notes payable decreased to MYR 60,009,000 in 2025 from MYR 90,822,000 in 2024[31] Cash Flow and Financing - The cash and bank balances decreased to RM 40,154,000 from RM 62,794,000, a decline of 36.2%[6] - Cash and cash equivalents, including bank balances and cash on hand, are subject to interest rates ranging from 0.05% to 4.0% in 2025, compared to 0.6% to 2.7% in 2024[30] - The group has no outstanding bank borrowings as of October 31, 2025, and has a bank overdraft facility of approximately RM 500,000[59] - The group maintains a capital debt ratio of zero as of October 31, 2024, and October 31, 2025[55] - The group’s financing and financial activities are centrally managed, with all bank borrowings denominated in Malaysian Ringgit and subject to floating interest rates[70] Expenses and Costs - The total employee costs amounted to RM 13,685,000, a decrease of 7.1% from RM 14,739,000 in the previous year[19] - The group's administrative and other expenses increased by 15.7% from approximately MYR 8.3 million in FY2024 to about MYR 9.6 million in FY2025[49] - The depreciation expense for property, plant, and equipment increased to RM 3,292,000 from RM 2,280,000 in 2024[19] - Other income, gains, and losses decreased from approximately MYR 4.4 million in FY2024 to about MYR 3.5 million in FY2025, mainly due to lower interest rates on fixed deposits[48] - The financing costs decreased from approximately MYR 21,000 in FY2024 to about MYR 14,000 in FY2025, primarily due to a reduction in lease liabilities interest[50] Dividends and Shareholder Information - A special dividend of HKD 0.037 per share was declared, totaling HKD 46,620,000 (equivalent to MYR 25,939,000) for the year ended October 31, 2025[24] - The board has decided to reallocate approximately RM 1.4 million of unutilized proceeds for strengthening the capital base for potential property projects[75] - The total net proceeds from the public issuance of 315 million shares at RM 0.40 per share amounted to approximately RM 73.5 million (about RM 38.7 million after expenses)[73] - The board of directors proposed a final cash dividend of HKD 0.027 per share for the year ending October 31, 2025, subject to approval at the upcoming annual general meeting[86] Corporate Governance and Compliance - The company has adopted new international financial reporting standards, which did not have a significant impact on the financial performance for the year[11] - The company has confirmed that there are no significant subsequent events from the end of the fiscal year 2025 to the date of this announcement[78] - The independent non-executive directors have reviewed and confirmed that the controlling shareholders have complied with the non-competition agreement throughout the fiscal year 2025[81] - The audit committee has reviewed the consolidated financial statements for the fiscal year 2024 and believes they have been prepared in accordance with applicable accounting standards and regulations[89] - The company has adopted a code of conduct for securities trading by directors, ensuring compliance throughout the fiscal year 2025[83] - The company emphasizes compliance with listing rules regarding the information provided[91] - The company is committed to transparency and timely communication with shareholders[91] - The announcement reflects the company's ongoing corporate governance practices[91] Market Outlook and Business Operations - The Malaysian construction industry is expected to remain stable in the short to medium term, but faces challenges such as rising material costs and labor shortages[53] - The group has only one reporting segment, which is the provision of general contracting services in Malaysia[14] - The group was unable to establish a representative office in Kuala Lumpur to expand its business coverage in West Malaysia due to a lack of available projects in the central region post-COVID-19[74] - As of October 31, 2025, the group had five ongoing construction projects with a total contract value of approximately MYR 587.9 million[41] - The group completed one factory project in FY2025 with a contract value of approximately MYR 83.1 million[39] - The group had uncompleted construction order amounts of approximately MYR 260.6 million as of October 31, 2025, down from MYR 278.9 million in the previous year[46] - The group submitted four tenders for factory projects and won one factory and two infrastructure contracts with a total contract value of approximately MYR 186.2 million and MYR 35.0 million respectively[42] Shareholder Communication - The annual performance announcement and annual report will be published on the company's website and the Hong Kong Stock Exchange website[91] - The 2025 fiscal year annual report will be sent to shareholders and available for viewing on the aforementioned websites[91] - The announcement is made by the board of directors, led by Chairman Low Seah Sun[91] - The executive directors include Low Seah Sun, Low Wui Linn, Seah Peet Hwah, Cheang Wye Keong, and Lau Ah Cheng[91] - The non-executive director is Mr. Tang Ji De, while the independent non-executive directors are Ng Kok Seng, Huang Zhi Wei, and Yeo Chew Yen Mary[91] - The announcement date is January 28, 2026[91] - The company will suspend the handling of shareholder registration from March 26 to March 31, 2026, to determine eligibility for attending the annual general meeting[87] - The company will also suspend shareholder registration from April 9 to April 13, 2026, to determine eligibility for receiving the final dividend[88] - The company has confirmed that there are no competitive interests held by directors in any business that may compete with the group[79] - The company has adhered to all corporate governance codes as outlined in the listing rules for the fiscal year 2025[84]
RIMBACO(01953) - 2025 - 年度业绩