Financial Performance - For the six months ended December 31, 2021, the company reported revenue of 328,682 thousand MYR, a significant increase from 51,511 thousand MYR in the same period last year, representing a growth of approximately 537%[7] - The gross profit for the same period was 13,542 thousand MYR, up from 9,526 thousand MYR, indicating a year-over-year increase of about 42%[7] - The net profit for the period was 3,911 thousand MYR, compared to 2,074 thousand MYR in the previous year, reflecting an increase of approximately 88%[7] - The total comprehensive income for the period was 4,935 thousand MYR, a substantial rise from 766 thousand MYR in the prior year, marking an increase of around 544%[7] - Basic and diluted earnings per share were both reported at 0.39 sen, up from 0.21 sen in the previous year, which is an increase of approximately 86%[7] - The company's profit before tax for the six months ended December 31, 2021, was 5,019,000 MYR, an increase of 60.8% compared to 3,120,000 MYR in the same period of 2020[119] - The net profit attributable to the owners of the company for the six months ended December 31, 2021, was 3,911,000 MYR, representing an increase of 88.5% from 2,074,000 MYR in the same period of 2020[127] Assets and Liabilities - The company's total assets as of December 31, 2021, were 186,447 thousand MYR, compared to 143,799 thousand MYR as of June 30, 2021, representing a growth of about 30%[18] - Current liabilities increased to 62,619 thousand MYR from 22,570 thousand MYR, indicating a significant rise in obligations[24] - The company's equity as of December 31, 2021, was 143,645 thousand MYR, up from 138,710 thousand MYR, showing a growth of approximately 3%[26] - The total liabilities as of December 31, 2021, amounted to MYR 15,251,000, compared to MYR 14,021,000 as of June 30, 2021, reflecting a slight increase in financial obligations[160] Cash Flow - Net cash generated from operating activities for the six months ended December 31, 2021, was 6,692 thousand MYR, a decrease of 19.4% compared to 8,298 thousand MYR in 2020[43] - Net cash generated from investing activities was 8,095 thousand MYR, down from 36,772 thousand MYR in the previous year, indicating a significant decline of 78.0%[43] - The net increase in cash and cash equivalents for the six months ended December 31, 2021, was 10,028 thousand MYR, a decrease of 76.7% from 42,851 thousand MYR in 2020[48] - Total cash and cash equivalents at the end of the period stood at 83,643 thousand MYR, compared to 88,977 thousand MYR at the end of the previous year, reflecting a decline of 5.0%[48] - The company’s cash flow from financing activities showed a net outflow of 4,759 thousand MYR, compared to 2,219 thousand MYR in the previous year, indicating increased cash outflows[43] Revenue Segmentation - Revenue from external customers in the civil engineering segment was 21,620 thousand MYR, while the oil and related products trading segment generated 304,626 thousand MYR[74] - The geographical breakdown of revenue shows that Malaysia contributed 51,511 thousand MYR, while China accounted for 304,626 thousand MYR[86] - The company has identified four reportable segments: site preparation projects, timber engineering projects, construction projects, and oil and related products trading[68] Operational Challenges - The company’s revenue from civil engineering projects decreased by approximately 53.3% from about 51.5 million MYR to around 24.1 million MYR due to the ongoing COVID-19 pandemic and various movement control orders[196] - The company experienced contract award delays and project postponements due to the pandemic, affecting its operational performance[192] - The new COVID-19 variant, Omicron, has led to a resurgence in cases, impacting the company's operations and market conditions[188] - The company has taken all relevant actions to minimize adverse impacts from the pandemic and is closely monitoring the situation[189] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[7] - Future outlook includes continued focus on civil engineering projects, with contracts expected to be fulfilled by June 30, 2024[114] - The management believes that the funds raised from the IPO will support future development and business strategies[192] - The company anticipates that the challenges posed by COVID-19 will eventually subside, leading to a global economic recovery in the coming years[193] Employee and Administrative Expenses - Employee benefits expenses totaled 11,313,000 MYR, up 15.0% from 9,828,000 MYR in the previous year[119] - The administrative expenses for the period amounted to 7,824 thousand MYR, indicating a focus on cost management[74] - The total employee costs included in cost of sales amounted to 6,294,000 MYR, a decrease of 6.2% from 6,708,000 MYR in the previous year[119] Share Options and Related Party Transactions - The company has a share option plan with 10,000,000 options granted, with an exercise price of HKD 0.35 (equivalent to MYR 0.19), available for exercise until May 11, 2026[177] - The group engaged in related party transactions, incurring subcontracting costs of MYR 22,000 with OME Diversified, a joint venture[185]
TBKS HLDGS(01960) - 2022 - 中期财报