Financial Performance - For the three months ended August 31, 2023, revenue was RM 2,025,000, a decrease of 6.3% compared to RM 2,162,000 in the same period of 2022[10]. - Gross profit for the three months was RM 318,000, down 63.7% from RM 875,000 in the previous year[10]. - Loss before income tax for the three months was RM 838,000, compared to a loss of RM 584,000 in the same period of 2022, representing a 43.5% increase in loss[11]. - Total comprehensive loss for the nine months ended August 31, 2023, was RM 5,100,000, slightly improved from RM 5,168,000 in the same period of 2022[11]. - Revenue for the nine months ended August 31, 2023, was RM 8,569,000, a decrease of 6.4% compared to RM 9,198,000 for the same period in 2022[41]. - Reportable segment results for the nine months ended August 31, 2023, were RM 1,470,000, down 29.7% from RM 2,094,000 in the previous year[41]. - The Group recorded a stable loss of approximately RM 5.1 million for the nine months ended August 31, 2023, compared to RM 5.2 million in 2022[100]. Revenue Breakdown - System integration and development services revenue for the nine months ended August 31, 2023, increased to RM 7,216,000 from RM 5,698,000, representing a growth of 26.6%[47]. - IT outsourcing services revenue decreased to RM 457,000 for the nine months ended August 31, 2023, down 54.9% from RM 1,014,000 in 2022[47]. - Maintenance and consultancy services revenue for the nine months ended August 31, 2023, was RM 191,000, a decline of 45.1% compared to RM 348,000 in the previous year[47]. - The geographical revenue from external customers in Malaysia was RM 8,569,000 for the nine months ended August 31, 2023, down from RM 9,198,000 in 2022[45]. Expenses and Losses - Administrative expenses for the three months were RM 1,195,000, a decrease of 49.3% from RM 2,353,000 in the previous year[10]. - Amortization for the nine months ended August 31, 2023, was RM 1,798,000, down from RM 3,410,000 in the same period of 2022[41]. - Total finance costs for the nine months ended August 31, 2023, were RM 63,000, a decrease from RM 74,000 in the previous year[52]. - The company reported a loss per share for the three months was RM 0.22, compared to RM 0.16 in the same period of 2022[11]. Corporate Governance - The Company has confirmed compliance with the corporate governance code provisions, except for the deviation regarding the roles of Chairman and CEO[133][135]. - The Audit Committee has direct access to the Company's external auditors and independent professional advisers when necessary, ensuring good corporate governance[134][136]. - The Audit Committee's primary duties include overseeing the audit process and ensuring effective financial reporting and risk management systems[179]. - The company continues to focus on maintaining strong governance and compliance frameworks as part of its operational strategy[176]. Shareholder Information - As of August 31, 2023, Mr. Chong Yee Ping and Mr. Siah Jiin Shyang each hold 196,560,000 shares, representing approximately 50.4% of the company's issued share capital[152]. - Delicate Edge Limited and King Nordic Limited each own 98,280,000 shares, accounting for 25.2% of the total issued share capital of the company[165]. - Mr. Liu Yan Chee James holds 57,720,000 shares, which is about 14.8% of the company's issued share capital[164]. - The Company has adopted a Share Option Scheme, allowing for the issuance of options to subscribe for shares, with a total of 39,000,000 shares available for issue, representing 10% of the existing issued share capital as of the report date[142][147]. Strategic Initiatives - The Group aims to become a major IT solution provider for digital banking and public financial services[101]. - The Group plans to leverage pre-IPO investors' business networks to introduce IT products from China into Malaysia[102]. - The Group is exploring potential acquisitions to strengthen its product offerings in response to increasing market demand[111]. - The Group is actively discussing emerging digital asset solutions with potential technology partners in the ASEAN region[118]. Market Conditions - The Group is monitoring global economic challenges, including rising interest rates and supply chain disruptions, which may impact business operations[122]. - The sales cycle for the digital banking solution is typically 12 to 18 months, with active marketing planned through regional banking technology events[113].
九福来(08611) - 2023 Q3 - 季度财报