Financial Performance - For the fiscal year ending June 30, 2022, the company recorded a profit attributable to owners of approximately MYR 12.5 million, a significant improvement compared to the previous year's loss[12]. - Revenue increased by approximately 371.3 million MYR or 263.3% from about 141.0 million MYR for the year ended June 30, 2021, to about 512.3 million MYR for the year ended June 30, 2022[35]. - The company recorded a profit attributable to owners of approximately 12.5 million MYR for the year ended June 30, 2022, compared to a loss of about 9.4 million MYR in the previous year[48]. - Gross profit increased by approximately 22.5 million MYR or 335.8% to about 29.2 million MYR for the year ended June 30, 2022, with an overall gross profit margin rising from approximately 4.7% to about 5.7%[40]. - Other income for the year ended June 30, 2022, was approximately 0.4 million MYR, including a gain of about 1.6 million MYR from the disposal of deposits for investment properties[42]. Revenue Sources - The company's revenue from offshore transportation services expanded over threefold compared to the fiscal year ending June 30, 2021, contributing to the overall financial performance[12]. - Revenue from offshore construction services accounted for approximately 90.1% of total revenue, increasing by about 361.6 million MYR or 362.3% to approximately 461.4 million MYR for the year ended June 30, 2022[36]. - Revenue from marine transportation accounted for approximately 89.3% of total revenue from offshore construction services, increasing by about 314.3 million MYR or 322.0% to approximately 411.9 million MYR for the year ended June 30, 2022[36]. - Revenue from reclamation and related works increased by approximately 47.3 million MYR or 2,150.0% to approximately 49.5 million MYR for the year ended June 30, 2022[36]. - Revenue from the marine fuel trading business generated approximately 43.4 million MYR, accounting for about 8.5% of total revenue for the year ended June 30, 2022[39]. Challenges and Risks - The company is facing challenges due to rising diesel prices, labor shortages, and increased minimum wages, which are putting pressure on profitability[13]. - The company expresses a cautious outlook on its recent business and financial performance due to the competitive landscape in the construction and marine fuel sectors[13]. - The group faced significant risks related to the ability to secure new contracts after existing ones are completed, impacting future business performance[119]. - The profitability of the group may be adversely affected by delays or changes in large contracts, which can lead to unexpected increases in project costs[120]. - The COVID-19 pandemic has created uncertainty in future market conditions, potentially affecting revenue and profitability[125]. Corporate Governance and Compliance - The company is committed to enhancing its corporate governance policies in response to ongoing reviews by the Hong Kong Stock Exchange, aiming for transparency and accountability[13]. - The company emphasizes a risk culture and effective communication to enhance corporate governance and performance[27]. - The board believes that the company has complied with all applicable corporate governance codes as of June 30, 2022[142]. - The company must comply with relevant laws and regulations in the Cayman Islands and Hong Kong regarding dividend payments[139]. - The board has confirmed that all directors have adhered to the standard code of conduct for securities transactions during the reporting period[143]. Employee Development and Workforce - The company emphasizes employee development through performance evaluations and training, viewing employees as valuable assets[19]. - The group had approximately 57 full-time employees as of June 30, 2022, an increase from 51 in the previous year, reflecting adjustments based on contract workload and strict cost control policies[78]. - The group is committed to providing a safe and healthy work environment for employees and subcontractors, promoting collaboration and diversity[133]. - The executive and non-executive directors are entitled to bonuses based on their performance and the group's performance for the relevant financial year[184]. - The company has adopted a share option scheme to incentivize employees and contributors, allowing for the granting of options to eligible participants[147]. Future Outlook and Strategy - The company aims to optimize its business model and actively participate in various tenders to strengthen its market competitiveness and achieve growth[13]. - The group expects gradual recovery in business as the Malaysian government implements reopening policies, although it remains cautious due to ongoing market uncertainties and competition[79]. - The group believes that upcoming projects, including those delayed due to the pandemic, will positively impact future business performance[82]. - The company anticipates utilizing the remaining funds by June 30, 2024, depending on market and economic conditions[86]. - The company is adjusting the allocation of net proceeds according to the prospectus due to discrepancies between estimated and actual net proceeds received[86]. Financial Position and Liabilities - As of June 30, 2022, the company had cash and cash equivalents of approximately 85.9 million MYR, a slight increase from 85.3 million MYR in the previous year[51]. - The group had bank loans of approximately 13.6 million Ringgit as of June 30, 2022, compared to 10.6 million Ringgit in 2021, with an interest rate of 6.2%[52]. - The debt-to-equity ratio increased from approximately 9.3% as of June 30, 2021, to approximately 10.2% as of June 30, 2022, due to an increase in total bank loans and lease liabilities from approximately 11.4 million Ringgit to approximately 14.2 million Ringgit[52]. - The group reported contingent liabilities related to performance guarantees of approximately 2.4 million Ringgit as of June 30, 2022, down from 4.3 million Ringgit in 2021[60]. - The group has not recognized any impairment provisions for other receivables and deposits, as the expected credit risk remains insignificant as of June 30, 2022[65].
JBB Builders(01903) - 2022 - 年度财报