Financial Performance - Revenue for the three months ended 28 February 2022 was RM 4,460,000, representing a 142.5% increase compared to RM 1,842,000 for the same period in 2021[10] - Gross profit for the period was RM 571,000, a decrease of 13.1% from RM 657,000 in the previous year[10] - Loss before income tax for the period was RM 2,236,000, compared to a loss of RM 1,111,000 in the same period last year, indicating an increase in loss of 100.1%[10] - Total comprehensive loss for the period was RM 2,236,000, which is double the loss of RM 1,111,000 reported in the previous year[11] - Basic and diluted loss per share for the period was RM 0.57, compared to RM 0.28 for the same period in 2021, reflecting an increase of 103.6%[11] - Administrative expenses increased to RM 2,789,000, up 56.5% from RM 1,783,000 in the previous year[10] - The company reported other income of RM 6,000, down 81.8% from RM 33,000 in the previous year[10] - The accumulated losses increased to RM 21,862,000 as of 28 February 2022, compared to RM 19,626,000 at the end of the previous reporting period[13] Revenue Breakdown - For the three months ended February 28, 2022, the total revenue from reportable segments was RM 4,460,000, with system integration and development services contributing RM 3,952,000[36] - Revenue from system integration and development services was RM 3,952,000, a significant increase from RM 941,000 in the previous year, representing a growth of 320%[43] - IT outsourcing services revenue decreased to RM 363,000, down 48% from RM 702,000 in the same period of 2021[43] - Maintenance and consultancy services revenue decreased to RM 145,000, down 27% from RM 199,000 in the same period of 2021[43] Operating Expenses - The group incurred amortization expenses of RM 1,137,000 during the first quarter of 2022[37] - Amortization of intangible assets increased to RM 1,137,000, up from RM 496,000 in the same period of 2021[52] - Finance costs increased to RM 24,000, up from RM 18,000 in the same period of 2021[49] - Administrative expenses increased by approximately 56.4% to approximately RM2.8 million for the three months ended 28 February 2022, up from approximately RM1.8 million in 2021[89] Corporate Governance - The company has complied with the Corporate Governance Code, except for the separation of roles between the chairman and CEO[159] - The Board believes that the current arrangement of having the same individual as both chairman and CEO is in the best interest of the company and shareholders[163] - The Board confirmed no material change in the business as set out in the Prospectus, indicating stability in operations[154] Market and Strategic Focus - The Group aims to be a major IT solution provider for digitalization in Malaysia and has recruited 12 additional IT specialists since the listing[110] - The Group plans to capture new growth opportunities through its successful product, Square Intelligence, and target the Small and Medium Enterprises market segment[109] - The Group will continue to focus on providing pay-per-use or leasing commercial models to ease customers' financial burdens and secure long-term contracts[104] - The Group is monitoring the COVID-19 pandemic's development to ensure employee safety and stable operations, adjusting measures as necessary[106] - Significant deals that were deferred are now being discussed and negotiated, indicating a potential recovery in the market[105] Shareholder Information - Directors and chief executives held a total of 196,560,000 shares, representing approximately 50.4% of the Company's issued share capital[181] - Mr. Chong Yee Ping and Mr. Siah Jiin Shyang are deemed to be interested in 196,560,000 shares held by their respective controlled corporations[183] - Mr. Liu Yan Chee James held 57,720,000 shares, representing 14.8% of the Company's issued share capital[181] - Mr. Lam Pang held 38,220,000 shares, representing 9.8% of the Company's issued share capital[181] Future Plans and Investments - Approximately RM18.3 million (60% of net proceeds) is allocated for purchasing hardware and equipment to establish IT infrastructure for cloud services[145] - The Group plans to develop a digital ordering process for SMEs, with a blueprint expected to be completed by Q2 2022[134] - The Group intends to introduce cashless payment features to enhance operational efficiency for SMEs[136] - The Group is exploring partnerships with technology firms in China to diversify service offerings in Malaysia[135] Compliance and Regulations - The Group did not recommend the payment of an interim dividend for the three months ended 28 February 2022, consistent with the previous year[70] - The Group has not early adopted any new/revised IFRSs that are not yet effective, and no material impact is anticipated from future adoptions[24] - The Group's place of domicile is Malaysia, where central management and control is located[33]
九福来(08611) - 2022 Q1 - 季度财报