Financial Performance - The group reported revenue of MYR 60,219,000 for the three months ended March 31, 2023, representing a 100% increase from MYR 30,083,000 in the same period of 2022[3]. - Gross profit for the same period was MYR 13,355,000, up 62.5% from MYR 8,223,000 year-on-year[3]. - The net profit for the period was MYR 3,750,000, an increase of 28.9% compared to MYR 2,911,000 in the previous year[3]. - Basic and diluted earnings per share increased to 0.62 sen from 0.52 sen, reflecting a growth of 19.2%[3]. - Operating profit for the same period was 4,922 thousand MYR, compared to 2,262 thousand MYR in the previous year, reflecting a 118% increase[14][15]. - The total comprehensive income for the period was MYR 4,701,000, compared to MYR 3,295,000 in the same period last year, marking a 42.7% increase[3]. - The Asia-Pacific region contributed 54,134 thousand MYR to revenue, significantly up from 21,449 thousand MYR in the previous year, marking a 152% increase[19]. - The company reported a significant increase in contract revenue to 34,061 thousand MYR, which was not present in the previous year[22]. - The production department's revenue decreased to approximately 22.8 million MYR, down by 7.2 million MYR or 24.0% year-on-year, primarily due to a slowdown in global demand and increased inflation[36]. - The energy efficiency department generated revenue of approximately 37.4 million MYR, compared to zero in the previous year, contributing significantly to the overall revenue increase[41]. - Gross profit for the period was approximately 13.4 million MYR, an increase of 5.2 million MYR or 63.4% year-on-year, driven by the energy efficiency department's contribution[46]. - The gross profit margin decreased from 27.2% to 22.3%, mainly due to the lower margin of the energy efficiency department compared to the production department[46]. - The net profit for the period was approximately 3.8 million MYR, an increase of 0.9 million MYR or 31.0% compared to the previous year[51]. Expenses and Costs - The group incurred administrative expenses of MYR 7,933,000, which is a 67.5% increase from MYR 4,749,000 in the prior year[3]. - The group's financing costs rose to MYR 226,000 from MYR 119,000, indicating an increase of 90.8%[3]. - The company incurred financing costs of 226 thousand MYR for the three months ended March 31, 2023, compared to 119 thousand MYR in the same period of 2022, indicating an increase of 90%[26]. Shareholder Information - The average number of ordinary shares issued increased to 601,566 thousand shares from 560,000 thousand shares year-on-year[34]. - As of March 31, 2023, PRG Holdings holds 303,468,000 shares, representing 50.45% of the company's issued share capital[79]. - As of March 31, 2023, the company has 601,565,600 shares issued, with the board members holding a total of 260,000 shares, which is approximately 0.04%[74][76]. - Major shareholder Ng Yan Cheng holds 66,977,600 shares, representing 11.13% of the company[79]. - The company proposed to increase its authorized share capital from HKD 100 million (1 billion shares) to HKD 200 million (2 billion shares) to provide greater flexibility for future expansion and growth[70]. - The company will hold a special general meeting for shareholders to consider the proposed increase in share capital[70]. Risk Management and Compliance - The group has established a Risk Management Committee consisting of two independent non-executive directors and one executive director to oversee risk management activities and ensure effective procedures are in place[58]. - During the reporting period, the Risk Management Committee did not identify any sanctions risk for the group, indicating a proactive approach to compliance with international sanctions[58]. - The audit committee reviewed the unaudited condensed consolidated results for the period and confirmed compliance with applicable accounting standards and GEM listing rules[85]. - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting and internal controls[83]. - The company confirmed that all directors complied with the trading code during the reporting period, with no non-compliance issues reported[82]. Future Outlook - Future strategies and market expansion plans were not detailed in the report, indicating a potential area for further communication[3]. - The company anticipates continued challenges from supply chain disruptions, rising material costs, and demand slowdown, while also expecting global energy consumption to increase in 2023[55]. - The company believes that the energy efficiency business will positively contribute to its performance, supported by government policies and rising energy costs[55]. Corporate Actions - The company entered into a conditional sale agreement to purchase 50 multi-storey units in the Picasso Residence development in Malaysia for a total consideration of MYR 61,982,000 (approximately HKD 109,689,545.40), with part of the payment made in cash and part through the issuance of new shares[68]. - The company announced changes in executive directors and compliance officers effective April 30, 2023, with new appointments made to the risk management committee[70]. - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[71].
飞霓控股(08480) - 2023 Q1 - 季度财报