Revenue and Growth - Revenue increased by approximately 218.9 million MYR or 632.7% to about 253.5 million MYR for the six months ended December 31, 2021, compared to approximately 34.6 million MYR for the same period in 2020[14] - The increase in revenue was primarily driven by increased sand transportation volumes from a contract obtained in June 2020 and new contracts awarded during the reporting period[14] - Revenue from offshore construction services increased by approximately 215.8 million Ringgit or 1,166.5% to about 234.3 million Ringgit for the six months ended December 31, 2021[15] - Revenue from offshore transportation services rose by approximately 214.8 million Ringgit or 1,263.5% to about 231.8 million Ringgit for the same period[16] - Revenue from building and infrastructure services decreased by approximately 11.5 million Ringgit or 71.9% to about 4.5 million Ringgit, primarily due to the completion of several contracts[17] - The group anticipates further growth in revenue as it continues to expand its operations in offshore construction and marine fuel sales[14] Contracts and Tenders - The group completed one offshore construction contract with an original contract value of approximately 27.7 million MYR and two building and infrastructure contracts totaling approximately 0.1 million MYR during the six months ended December 31, 2021[11] - As of December 31, 2021, the group had seven ongoing offshore construction contracts with a total original contract value of approximately 777.3 million MYR and four ongoing building and infrastructure contracts valued at approximately 263.3 million MYR[11] - The group submitted six tenders and four quotations that are still pending results, with an expected total contract value of approximately 723.2 million MYR as of June 30, 2021[12] - The group has submitted one tender and nine quotations for offshore construction contracts, with an original contract value of approximately 427.8 million MYR during the six months ended December 31, 2021[12] - The group was awarded seven contracts with an original contract value of approximately 58.2 million MYR during the reporting period[12] Financial Performance - The group recorded a profit attributable to owners of the company of approximately 0.4 million Ringgit, compared to a loss of about 2.8 million Ringgit in the previous period[28] - Gross profit improved to approximately 10.6 million Ringgit with a gross profit margin of about 4.2%, compared to a gross loss of about 0.3 million Ringgit in the previous period[20] - The company reported a pre-tax profit of 1,294 thousand MYR, compared to a pre-tax loss of 3,818 thousand MYR in the same period last year[89] - The net loss for the period was 186 thousand MYR, a significant improvement from a net loss of 3,641 thousand MYR in the previous year[89] - The company has expressed optimism about future growth and profitability, supported by improved operational performance and market conditions[89] Cash Flow and Liquidity - As of December 31, 2021, the company had cash and cash equivalents of approximately 86.7 million Ringgit, an increase from 85.3 million Ringgit as of June 30, 2021[31] - Net cash generated from operating activities for the six months ended December 31, 2021, was 1,908 thousand Ringgit, compared to 729 thousand Ringgit in 2020, representing a significant increase of 161%[96] - Cash and cash equivalents increased by 1,371 thousand Ringgit, compared to a decrease of 1,156 thousand Ringgit in the previous year, indicating a positive cash flow trend[96] - The total cash and cash equivalents at the end of the period reached 86,743 thousand Ringgit, up from 70,808 thousand Ringgit in the previous year, showing a growth of 22%[96] Assets and Liabilities - Total assets as of December 31, 2021, were 268,084 thousand MYR, up from 246,351 thousand MYR as of June 30, 2021[91] - Current liabilities increased to 161,428 thousand MYR from 139,089 thousand MYR, indicating a rise in short-term obligations[91] - The company's net asset value stood at 122,254 thousand MYR, slightly down from 122,368 thousand MYR as of June 30, 2021[91] - The group’s total liabilities, including trade and other payables, amounted to 155,390,000 MYR as of December 31, 2021, compared to 135,618,000 MYR as of June 30, 2021[158] Shareholder Information - The largest shareholder, JBB Jade Investment Limited, holds 181,816,500 shares, representing approximately 36.36% of the total issued share capital[81] - JBB Berlian Investment Limited, another major shareholder, holds 161,233,500 shares, accounting for about 32.25% of the total issued share capital[81] - The company has maintained sufficient public float, with at least 25% of its issued shares publicly held[83] Corporate Governance - The company has adopted and complied with the corporate governance code as per the listing rules during the reporting period[67] - The board confirmed compliance with the standard code for securities transactions by directors throughout the reporting period[68] - No share options have been granted, exercised, lapsed, or cancelled under the share option scheme since its adoption[69] Operational Challenges - The ongoing COVID-19 pandemic and government-imposed restrictions have caused delays in planned construction projects, impacting overall service workload[14] - Due to the turbulent economic environment and ongoing COVID-19 pandemic, construction contracts have been delayed, and several contracts expected to be awarded have been potentially canceled[64] Future Outlook - The group plans to continue strict cost control measures and actively participate in tenders to maintain market competitiveness[57] - The expected timeline for utilizing the remaining proceeds will depend on the recovery of overall economic activity, with a target to fully utilize the funds by June 30, 2024[65] - The company plans to expand its market presence and enhance its service offerings in offshore construction and transportation sectors[119]
JBB Builders(01903) - 2022 - 中期财报