Zhixun finance app news, tbks hldgs (01960) announced the annual results for the year ended June 30, 2024, with the group earning 0.288 billion ringgit, a 21.7% year-on-year decrease; the company's owners' share of the losses was expanded by 275.59% to 32.744 million ringgit; basic loss per share was 3.27 ringgit cents.

The announcement stated that despite the uncertain economic outlook, the group's civil and structural engineering in Malaysia, including its products and services, sources of revenue, and customer base, remained relatively stable during this fiscal year. However, the group faced serious challenges in Malaysia in terms of obtaining new projects, rising material costs, and narrowing gross margin, mainly due to insufficient new projects and intense competitive bidding; unrealistic price targets set by project owners; and the weak Malaysian ringgit which led to senior engineers relocating overseas, resulting in the loss of experienced professionals in project planning, budgeting, and control within the industry.