Financial Performance - For the fiscal year ending October 31, 2023, Rimbaco Group Global Limited reported total revenue of MYR 510,437,000, an increase of 7.5% compared to MYR 475,565,000 in the previous fiscal year[6] - The gross profit for the same period was MYR 33,705,000, significantly up from MYR 4,941,000, reflecting a gross margin improvement[6] - The net profit for the year was MYR 20,007,000, a substantial increase from MYR 233,000, indicating a strong growth trajectory[6] - Earnings per share for the fiscal year was MYR 1.59, a significant rise from MYR 0.02 in the previous year[6] - The company reported a total comprehensive income attributable to owners of MYR 19,976,000, compared to MYR 1,078,000 in the previous year[6] - Pre-tax profit surged to 20,007,000 MYR in 2023, a substantial increase from 233,000 MYR in 2022, indicating a growth of 8,487.1%[32] - The group's net profit attributable to owners was approximately 20.0 million MYR in FY2023, a significant increase of about 19.8 million MYR from 0.2 million MYR in FY2022[67] Revenue Breakdown - Revenue from factory projects amounted to 314,513 thousand MYR in 2023, up from 212,029 thousand MYR in 2022, indicating a significant increase of about 48.4%[22] - Revenue from infrastructure projects rose to 56,203 thousand MYR in 2023, compared to just 4,771 thousand MYR in 2022, reflecting a substantial growth of approximately 1,176%[22] - Revenue from commercial and/or residential projects decreased to 137,229 thousand MYR in 2023 from 257,360 thousand MYR in 2022, showing a decline of about 46.6%[22] - In FY2023, factory projects accounted for approximately 314.5 million MYR (61.6% of total revenue), while infrastructure projects contributed about 56.2 million MYR (11.0% of total revenue)[59] Assets and Liabilities - Total assets as of October 31, 2023, amounted to MYR 325,548,000, compared to MYR 266,160,000 in the previous year, representing a growth of 22.3%[8] - The company’s total liabilities rose to MYR 193,329,000 from MYR 126,427,000, indicating an increase of 53%[8] - The company reported a net trade receivables amounting to 105,680,000 MYR in 2023, compared to 47,783,000 MYR in 2022, an increase of 121.5%[36] - Contract assets increased to 141,651,000 MYR in 2023 from 99,638,000 MYR in 2022, representing a growth of 42.2%[39] - Trade payables and notes payable increased to 102,788 thousand MYR in 2023 from 83,022 thousand MYR in 2022, representing a growth of approximately 23.9%[42] Financial Standards and Compliance - The company has implemented new international financial reporting standards, which may impact future financial disclosures and performance assessments[14] - The application of the revised International Financial Reporting Standards is not expected to have a significant impact on the company's financial position or performance[19] - The company’s financial performance is regularly reviewed by its key management decision-makers, ensuring alignment with International Financial Reporting Standards[21] - The audit committee has reviewed the consolidated financial statements for the fiscal year 2023, confirming compliance with applicable accounting standards and regulations[115] Cash Flow and Capital Structure - The group's cash balance as of October 31, 2023, was approximately 57.4 million MYR, compared to 97.8 million MYR in the previous year[72] - The current ratio as of October 31, 2023, was approximately 1.7 times, down from 2.1 times a year earlier[73] - As of October 31, 2023, the company's capital structure includes approximately MYR 153.3 million in equity, a decrease from MYR 156.2 million as of October 31, 2022[76] - The company has no outstanding bank borrowings as of October 31, 2023, with an unused bank overdraft facility of approximately MYR 500,000, unchanged from the previous year[77] Project and Operational Highlights - The group completed 9 construction projects in the fiscal year 2023, with a total contract value of approximately 235.1 million MYR[49] - As of October 31, 2023, the group has 6 ongoing construction projects with a total contract value of approximately 1.23 billion MYR[53] - The group submitted 9 bids for factory projects, 1 bid for a commercial project, and 5 bids for institutional projects in the fiscal year 2023, winning 2 factory projects and 4 institutional projects with total contract values of approximately 473.3 million MYR and 30.3 million MYR respectively[55] Employee and Operational Costs - Employee costs decreased from 16.0 million MYR in the fiscal year 2022 to 13.5 million MYR in the fiscal year 2023, primarily due to the absence of payment bonuses and a reduction in workforce[97] - Administrative and other expenses rose by 1.4 million MYR (or 18.4%) to approximately 9.0 million MYR in FY2023, mainly due to employee rewards and bank financing stamp duties[64] Future Outlook - The company anticipates that FY2024 will be a challenging year, focusing on project execution and seeking growth opportunities in its order book[71] - The company plans to utilize the unutilized proceeds by the end of 2024 or earlier, depending on market conditions[103] Miscellaneous - The company has no significant subsequent events after the fiscal year 2023 up to the date of the announcement[104] - The company has no significant investments outside of its subsidiaries as of the fiscal year 2023[88] - The company has no capital commitments as of October 31, 2023, maintaining a consistent position from the previous year[93]
RIMBACO(01953) - 2023 - 年度业绩