CapAllianz 1H FY2026 swings to US$1.3m loss on 68% revenue slump; relies on placements, loans and Thai oil cashflows to support going concern
Summary:
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Group revenue fell 68.2% to US$0.69 million for 1H FY2026, as technical services revenue disappeared after customer payment defaults and oil & gas revenue dropped 26.7% on lower production and weaker oil prices.
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Cost of sales jumped 39.9% on higher depletion and production expenses, driving a gross loss of US$1.29 million versus a US$0.74 million gross profit a year earlier.
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The Group booked a net loss of US$1.33 million versus a US$0.07 million profit in 1H FY2025, though income tax credit rose to US$1.01 million on write-back of provisions and higher deferred tax assets from the Thailand operations.
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Despite the loss, CapAllianz’s net assets increased to US$32.23 million, helped by a 3.0 billion-share placement raising about US$2.58 million and new unsecured loans of roughly US$1.08 million from non-related parties.
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Management asserts there is no material going-concern uncertainty, citing positive working capital of US$1.02 million, undrawn US$10 million facilities at its Thai oil venture, ongoing cost control and plans to grow the trading segment and pursue new investments.