BBSB International (8610) H2 2025 earnings summary

Executive summary

• Operates as a civil engineering contractor in Malaysia, specializing in infrastructure projects for government and government-linked entities, with a strong track record and high contractor classification.

• Managed five ongoing projects with a total contract sum of RM723.5 million as of year-end 2025.

• Listed on GEM of the Hong Kong Stock Exchange on 13 January 2026, raising HK$48.1 million in net proceeds.

Financial highlights

• Revenue increased 10.7% year-over-year to RM147.2 million for FY2025, driven by higher contributions from Project JB28.

• Gross profit rose to RM29.8 million (up from RM25.7 million), with gross margin improving to 20.2% from 19.3%.

• Net profit dropped sharply to RM6.3 million from RM26.2 million, mainly due to the absence of a major reversal of impairment losses and listing expenses.

• Other income and gains, net, increased to RM2.7 million, primarily from higher administrative charges to subcontractors.

• Interim dividends totaling RM5.0 million were paid; no final dividend recommended.

Outlook and guidance

• Malaysian transportation infrastructure market expected to maintain moderate growth in 2026, supported by government initiatives.

• Bridge engineering segment anticipated to grow due to technical complexity and capital requirements.

• Focus remains on replenishing the order book and prudent navigation of market uncertainties.