Rimbaco Group Global Limited (Rimbaco) released unaudited results for the six months ended 30 April 2026 (1H26), highlighting a sharp recovery in earnings driven by the completion of a large-scale factory contract.
Financial Highlights • Revenue rose 50.6% year-on-year to RM182.68 million, propelled by a RM121.17 million contribution from factory projects (66.3% of total revenue). • Gross profit expanded almost fourfold to RM23.27 million; gross margin improved to 12.8% (1H25: 5.2%) on a higher-margin fast-track factory project. • Profit before tax surged to RM20.61 million (1H25: RM4.51 million). • Net profit attributable to shareholders jumped 393.8% to RM15.75 million, translating into basic EPS of 1.25 sen (1H25: 0.25 sen). • Administrative and other expenses increased 51.3% to RM5.89 million, reflecting professional fees related to a land disposal and staff incentive costs. • Finance costs nearly halved to RM0.06 million due to lower utilisation of trade-bill facilities.
Balance Sheet and Liquidity • Net assets stood at RM123.20 million (31 Oct 2025: RM124.64 million). • Cash and cash equivalents climbed to RM52.43 million, while restricted bank deposits fell to RM15.61 million. • Net current assets improved 14.0% to RM98.79 million, underpinning a healthy current ratio of 2.1x. • The Group remained debt-free at period-end; gearing stayed at 0%.
Operational Update • One factory project (contract value: RM186.46 million) was completed in February 2026. • Four projects were in progress as at 30 April 2026 with aggregate contract value of RM401.52 million (one institutional and three infrastructure jobs). • Outstanding order book declined to RM106.20 million (31 Oct 2025: RM357.40 million) amid limited market opportunities; none of the four tenders submitted during the period were secured.
Other Income & Gains • Other income rose to RM3.18 million (1H25: RM2.13 million), lifted by RM1.47 million gain on disposal of scaffolding and RM0.95 million gain on land sales announced on 18 November 2025.
Shareholder Changes • In April 2026, Aureole Halo Limited acquired 75% of Rimbaco’s issued share capital (945 million shares) from RBC Venture Limited for approximately HK$157.5 million, becoming the new controlling shareholder.
Capital Expenditure & Commitments • No significant capex incurred in 1H26; no capital commitments outstanding at period-end.
Dividend • The Board did not declare an interim dividend for 1H26 (1H25: nil).
Outlook Management expects Malaysia’s construction landscape to remain challenging due to cost pressures, energy-price volatility and uncertain project pipeline. Rimbaco will continue its selective bidding strategy, focus on cost optimisation and safeguard liquidity to sustain satisfactory performance for the full fiscal year.
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