Financial Performance - The company's net profit for the year ended December 31, 2023, was approximately MYR 10.30 million, a slight increase of about MYR 0.16 million compared to MYR 10.14 million for the year ended December 31, 2022[4]. - Total revenue for the year ended December 31, 2023, was approximately MYR 94.44 million, representing an increase of about 8.5% from MYR 87.05 million in the previous year[8]. - The net profit margin for the year ended December 31, 2023, was approximately 10.9%, down from 11.6% in the previous year[17]. - The company recorded a tax expense of MYR 4.78 million for the year ended December 31, 2023, compared to MYR 4.02 million for the previous year[16]. - The net cash inflow from operating activities for the year ended December 31, 2023, was approximately 14.32 million MYR, compared to 6.98 million MYR in 2022[18]. - Operating profit for 2023 was RM 15,574,000, up from RM 14,414,000 in 2022, reflecting a growth of 8.0%[198]. - Net profit for the year was RM 10,305,000, compared to RM 10,141,000 in the previous year, representing a growth of 1.6%[198]. - Basic earnings per share increased to 2.58 sen from 2.54 sen year-over-year[198]. - The company reported a total comprehensive income of RM 10,305,000 for the year, reflecting overall financial stability[198]. Employee Costs and Workforce - Employee costs rose by approximately MYR 4.05 million or 6.8% to about MYR 63.36 million, with the average number of employees increasing from 1,318 to 1,417[11]. - The total employee costs for the year ended December 31, 2023, amounted to approximately 63.36 million MYR, representing about 67.1% of the group's revenue, compared to 68.1% in 2022[24]. - The company has 1,412 employees as of December 31, 2023, compared to 1,388 employees in the previous year[39]. - The total contributions made to the retirement benefits plan amounted to approximately 6.95 million MYR for the year ending December 31, 2023, compared to 6.50 million MYR in 2022[51]. Operating Expenses - Depreciation expenses increased by approximately MYR 0.53 million or 12.3% to about MYR 4.86 million, primarily due to new lease agreements for the office property of the new contact center in Malacca[12]. - Other operating expenses decreased by approximately MYR 1.56 million or 12.4% to about MYR 11.05 million, mainly due to reductions in entertainment and telecommunication costs[13][14]. - Financial costs increased to MYR 487,000 in 2023, compared to MYR 249,000 in 2022, marking a rise of 95.6%[198]. - Other income decreased slightly to MYR 2,918,000 from MYR 3,034,000, a decline of 3.8%[198]. Customer and Revenue Concentration - The sales from the top five customers accounted for 74.0% of total revenue for the year ended December 31, 2023, slightly down from 75.4% in 2022[26]. - Sales to the top five customers accounted for approximately 74% of total revenue, with the largest customer contributing about 25.7% of total revenue[172]. Debt and Equity - As of December 31, 2023, the total equity and liabilities of the group were approximately 48.95 million MYR and 25.03 million MYR, respectively, compared to 65.99 million MYR and 19.43 million MYR in 2022[20]. - The capital debt ratio as of December 31, 2023, was 14.0%, down from 20.7% in 2022, indicating a decrease in total debt relative to equity[22]. - The total current and non-current lease liabilities as of December 31, 2023, were approximately 6.78 million MYR, down from 8.74 million MYR in 2022[19]. - The company has a total outstanding principal amount of 12 million MYR and 6 million MYR due to Mightyprop and Arcadia, respectively[38]. Corporate Governance - The board consists of 6 members, including 3 executive directors and 3 independent non-executive directors, ensuring a balanced oversight for the company[90]. - The company has adopted a new corporate governance code applicable to its corporate governance report for the year ending December 31, 2023[87]. - The board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with clearly defined powers and responsibilities[87]. - The company emphasizes high levels of corporate governance to enhance performance, transparency, and accountability[86]. - The independent non-executive directors have confirmed their independence in accordance with the relevant listing rules[91]. Risk Management - The company identified key risks affecting operational performance, including labor acquisition and employee cost control, as well as delayed payments from five major clients[133]. - The company continues to monitor foreign exchange risks and has no current hedging policies in place[42]. - The board is responsible for maintaining effective internal controls and risk management systems to protect stakeholders' interests and the company's assets[107]. Shareholder Relations and Dividends - The board has adopted a dividend policy that allows for cash or stock dividends, subject to the board's discretion and considerations of earnings per share and financial conditions[108]. - The board has decided not to recommend any final dividend for the year ending December 31, 2023, but declared a special dividend of 0.0383 MYR per share, paid on June 15, 2023[48]. - The company has maintained high transparency through various communication channels, including annual general meetings and analyst briefings[126]. Environmental and Social Responsibility - The company is committed to reducing its environmental impact and complying with applicable environmental laws[61]. - The company reported a total charitable donation of approximately MYR 13,000 for the fiscal year ending December 31, 2023[137].
UTS MARKETING(06113) - 2023 - 年度财报