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Public company info - AB Builders Group Limited , 01615.HK
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AB Builders Group Limited, 01615.HK - Company Profile
Chairman Lao Chio Seng
Share Issued (share) 600,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Construction & Decoration
Corporate Profile Business Summary: The Group has mainly engaged in the business in providing structural works and fitting-out works services in Macau. Performance for the year: For the year ended 31 December 2019, the Group’s revenue increased by approximately MOP88.9 million or 33.9% as compared with the last year. For the year ended 31 December 2019, The Group’s gross profit decreased by approximately MOP15.5 million, or 24.6% to approximately MOP47.6 million when compared with last year. Business Review During the year ended 31 December 2019, the Group recorded a revenue of approximately MOP351.5 million, representing an increase of approximately MOP88.9 million or approximately 33.9% over the corresponding period of the last year. The increase in revenue is mainly contributed from projects with lower margin as a result of the adoption of the competitive tender approach in respond to the economic slowdown of the Macau economy. As a result, the Group’s gross profit decreased to approximately MOP47.6 million for the year ended 31 December 2019 from approximately MOP63.1 million in 2018. For the year ended 31 December 2019, the Group has completed 5 fitting-out works projects and 2 structural works projects, and was awarded with 2 structural works project and 11 fitting-out works projects with an aggregate contract sum of approximately MOP268.4 million. As at 31 December 2019, the Group had 28 on-going projects (either in progress or yet to commence), including 6 structural works projects and 22 fitting-out works projects. Prospects: Looking ahead, the slack in Macau and Hong Kong’s economy, which are affected by the slowdown of global economic growth, the on-going China-US trade tension and the outbreak of Novel Coronavirus (“COVID-19”), is expected to bring much more challenges to the regions’ construction industry in 2020. Under the conservative investment environment and the COVID-19 outbreak continues, the number of projects available in the market is forecasted to be reduced or postponed considerably, which will intensify the competition of the construction industry and adversely affect the profitability of the projects. The progress of certain projects was also delayed which definitely deferred the recognition of revenue in the coming months. As a result, it may have a material unfavourable impact on the Group’s business performance, especially for the first half of 2020 and the outlook for 2020 remains very challenging. Under the challenging macroeconomic environment, the Group will continue to embrace a tighten cost control measure and maintain a sustainable and healthy financial position for the Group. It will also continue to solidify its competitiveness in the construction market in Macau, by implementing its tender strategies prudently and flexibly. Furthermore, for the Group’s long-term development and sustainable growth, it is striving to catch opportunities arising from Guangdong-Hong Kong-Macau Greater Bay Area through mergers and acquisition, partnership with reputable enterprises. The acquisition of Lap Polly Engineering Company Limited (“Lap Polly”) enables the Group to tap into the construction market in Hong Kong with immediate effect. Lap Polly is continuing to tender different scale fitting-out works and structural works projects so as to broaden its customer base. With its proven track record in the construction industry and strategic business arrangement, the Group strongly believes that it will be well-positioned to grab the opportunities when the market recover.

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