Quarterly Report For The Financial Period Ended 30 June 2018

Financials Archive

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Unaudited Condensed Statement of Profit or Loss and Other Comprehensive Income For The Quarter Ended 30 June 2018

income statement

Unaudited Condensed Consolidated Statement of Financial Position As At 30 June 2018

balance sheet

Review of Company Performance

For the current financial quarter under review, the Company posted revenues of RM38.51 million as compared to its preceding year’s corresponding quarter ended 30 June 2017 of RM29.87 million. Along with the increase in revenues, profit before tax (“PBT”) during the current quarter jumped to RM4.48 million, representing an increase of RM2.37 million from its preceding year’s corresponding quarter ended 30 June 2017 of RM2.11 million.

Overall the increase in revenues and PBT were mainly attributed to increased activity.

Comparison with Immediate Preceding Quarter Results

balance sheet

The Company recorded higher gross profit of RM7.28 million for the current quarter as compared with RM5.73 million in the previous quarter ended 31 March 2018 mainly due to higher margin and revenues.

The Company’s profit before tax of RM4.48 million for the current quarter was 37% higher than the RM3.27 million achieved in the previous quarter ended 31 March 2018. The increase was mainly due to the increased revenues and other income, lower finance costs.

Prospects for the Financial Year

The Company will continue to focus on the following future plans and business strategies for the future growth and expansion of its business:-

  1. grow its market share in Malaysia by increasing tendering activities, focusing on affordable housing sector and geographical expansion;
  2. strengthen its capabilities by growing its mechanical engineering services segment;
  3. diversifying its revenue stream by providing maintenance services including upgrading, expansion, refurbishment, retrofitting and renovation projects; and
  4. In the area of technology innovation, we are planning to collaborate with a software specialist to develop our own proprietary Internet-of-Things based software that can monitor ventilation and air-conditioning systems in order to enhance operational efficiencies and reduce cost.

As at 30 June 2018, the Company’s order book, contracts secured and tenders are as follows:-

  1. order book balance is approximately RM233 million;
  2. total value of contracts secured is approximately RM49 million; and
  3. approximately RM300 million worth of tenders still pending.

The Board of Directors is of the opinion that the Company’s financial performance for the current year to be satisfactory.