Financial Performance - For the fiscal year 2025, the company recorded revenue of approximately 260.0 million MYR, a decrease of about 29.2 million MYR or 10.0% compared to 289.2 million MYR in fiscal year 2024[9]. - The company reported a loss attributable to owners of approximately 3.8 million MYR for fiscal year 2025, an increase of about 2.2 million MYR from a loss of 1.6 million MYR in fiscal year 2024[9]. - The gross profit margin improved from approximately 1.4% in fiscal year 2024 to about 5.1% in fiscal year 2025[9]. - The gross profit increased from approximately RM 4.0 million in fiscal year 2024 to approximately RM 13.1 million in fiscal year 2025, with the gross profit margin rising from 1.4% to 5.1%[24]. - The group’s revenue for the fiscal year 2025 was approximately 259.9 million MYR, a decrease of 10.1% from 289.2 million MYR in 2024[180]. - The cost of services for the fiscal year 2025 was approximately 246.8 million MYR, down from 285.1 million MYR in 2024[180]. - The group reported a gross profit of approximately 13.1 million MYR for fiscal year 2025, compared to 4.0 million MYR in 2024, marking a significant improvement[180]. - The pre-tax profit for the fiscal year 2025 was approximately 6.8 million MYR, a recovery from a loss of 0.8 million MYR in 2024[180]. - The total assets of the group as of October 31, 2025, were approximately 240.9 million MYR, a decrease from 292.5 million MYR in 2024[180]. - The total liabilities of the group were approximately 116.3 million MYR, down from 141.1 million MYR in 2024[180]. Project and Contract Management - As of October 31, 2025, the company had five ongoing construction projects with a total contract value of approximately 587.9 million MYR[19]. - The company completed one factory project in fiscal year 2025 with a total contract value of approximately 83.1 million MYR[16]. - The company submitted four bids for factory projects, one for commercial projects, one for institutional projects, and two for infrastructure projects in fiscal year 2025[20]. - The company won contracts for one factory and two infrastructure projects, with total contract values of approximately 186.2 million MYR and 35.0 million MYR respectively[20]. - As of October 31, 2025, the company's uncompleted engineering order book amounts to approximately RM 260.6 million, down from RM 278.9 million as of October 31, 2024[23]. Operating Environment and Strategy - The company anticipates facing a challenging operating environment in the next fiscal year due to global uncertainties and increased competition[11]. - The company plans to adopt a cautious strategy, focusing on selective project participation and strict cost management to ensure operational sustainability and resilience in the competitive Malaysian construction market[32]. Shareholder and Dividend Information - A special dividend was declared on September 24, 2025, to reward shareholders for their support[10]. - The proposed final cash dividend for the fiscal year 2025 is 0.027 HKD per share, subject to approval at the annual general meeting[176]. - The company has adopted a dividend policy effective from November 20, 2020, aiming to balance shareholder interests with prudent capital management[163]. - The board will consider various factors, including actual and expected financial performance, when deciding on dividend payments[163]. - There is no predetermined dividend payout ratio, and the board retains discretion over the declaration and amount of dividends[164]. Governance and Leadership - The company has a strong leadership team with extensive experience in the construction industry, ensuring effective management and operational oversight[67]. - The board includes independent directors who provide oversight and governance, enhancing the company's compliance and strategic direction[68]. - The roles of the Chairman and CEO have been clearly separated, with Low Seah Sun serving as Chairman and Low Wui Linn as CEO for the fiscal year 2025[77]. - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules, ensuring compliance with all governance code provisions for the fiscal year 2025[76]. - The company has established a remuneration committee and an audit committee, enhancing oversight and governance practices[76]. Risk Management - The group has established a risk register to document identified risks, their ratings, mitigation plans, and responsible parties[131]. - The internal control system is reviewed annually to ensure its effectiveness, with an independent consultant conducting evaluations[132]. - The board concluded that the risk management and internal control systems are effective and adequate for the fiscal year 2025[132]. - Compliance risk management is crucial for adhering to legal regulations and industry standards[133]. - Financial risk management procedures enable the group to effectively manage financial resources and obligations[134]. - Business risks are assessed based on severity and likelihood to capture opportunities and implement mitigation measures[136]. Shareholder Communication - The company has established a shareholder communication policy to ensure timely access to comprehensive information for shareholders[149]. - The board will regularly review the effectiveness of the shareholder communication policy to ensure it meets shareholder needs[154]. - The company encourages shareholder participation in annual general meetings and allows for proxy voting if shareholders cannot attend[152]. Audit and Compliance - The Audit Committee held 3 meetings in the fiscal year 2025, reviewing the financial statements and ensuring compliance with applicable accounting standards[119]. - The external auditor, ShineWing (HK) CPA Limited, was recommended for reappointment at the 2025 Annual General Meeting, having demonstrated independence and objectivity[120]. - The total fees paid to the external auditor for audit services in 2025 amounted to 585,000 MYR, slightly down from 586,000 MYR in 2024[125]. - The Audit Committee assessed the effectiveness of the internal audit function conducted by independent professional advisors[122]. - The company confirmed that there are no significant uncertainties affecting its ability to continue as a going concern, and financial statements were prepared on a going concern basis[128].
RIMBACO(01953) - 2025 - 年度财报