Financial Performance - For the six months ended June 30, 2022, the company reported revenue of approximately MYR 179.7 million, a 40.4% increase compared to MYR 128.0 million for the same period in 2021[9]. - Gross profit for the same period was approximately MYR 45.2 million, reflecting a 47.2% increase from MYR 30.7 million in the previous year, with a gross margin of 25.2%[9][13]. - Net profit for the six months ended June 30, 2022, was approximately MYR 21.8 million, up from MYR 17.7 million in the prior year[9][13]. - The company achieved a profit before tax of 24,208 thousand MYR, representing a 16.0% increase compared to 20,739 thousand MYR in the previous year[59]. - Total comprehensive income for the period amounted to 27,774 thousand MYR, compared to 20,014 thousand MYR in the same period last year, reflecting a 38.9% increase[61]. - The company reported a net profit of 21,810 thousand MYR for the six months ended June 30, 2022, compared to 17,720 thousand MYR for the same period in 2021, indicating a year-over-year increase of approximately 23.5%[94]. - The group reported a profit attributable to owners of RM 21,762,000 for the six months ended June 30, 2022, compared to RM 17,720,000 for the same period in 2021, representing a growth of approximately 22.9%[121]. Revenue Segmentation - The logistics center and related services segment saw revenue increase by 56.2% to approximately MYR 36.8 million, driven by higher demand for warehousing services[16]. - The land transportation services segment's revenue increased by 28.4% to approximately MYR 27.8 million, attributed to the acquisition of a subsidiary engaged in transportation services[18]. - The integrated freight forwarding services segment experienced a revenue growth of 36.3% to approximately MYR 56.5 million, supported by increased demand following the reopening of international borders[18]. - Revenue from Malaysia accounted for the largest share at 102,953 thousand MYR in 2022, up from 73,801 thousand MYR in 2021, reflecting a growth of approximately 39.5%[100]. - The revenue breakdown for the six months ended June 30, 2022, included 56,455 thousand MYR from integrated freight forwarding services, 36,762 thousand MYR from logistics center and related services, and 27,772 thousand MYR from land transportation services[90]. Asset and Equity Growth - Total non-current assets as of June 30, 2022, were approximately MYR 325.3 million, compared to MYR 227.4 million at the end of 2021[12]. - The company's net asset value increased to approximately MYR 293.1 million as of June 30, 2022, from MYR 265.5 million at the end of 2021[12]. - The company's total assets as of June 30, 2022, were 420,395 thousand MYR, an increase from 344,750 thousand MYR as of December 31, 2021[66]. - The company's equity totalled 293,140 thousand MYR as of June 30, 2022, up from 265,499 thousand MYR at the end of 2021, reflecting a growth of 10.4%[66]. Costs and Expenses - Operating costs totaled approximately RM 134,484,000, an increase of RM 37,166,000 or 38.2% compared to the same period in 2021[19]. - Employee costs for the six months ended June 30, 2022, were approximately RM 19,678,000, compared to RM 14,407,000 for the same period in 2021[31]. - The total administrative and other expenses for the period were (18,167) thousand MYR, indicating a need for cost management strategies moving forward[90]. - The income tax expense for the six months ended June 30, 2022, was 2,398 thousand MYR, down from 3,019 thousand MYR in 2021, indicating a decrease of about 21%[117]. Cash Flow and Liquidity - As of June 30, 2022, the group held cash and bank balances of approximately RM 33,125,000, down from RM 53,684,000 as of December 31, 2021[23]. - The company experienced a net decrease in cash and cash equivalents of 29,544 thousand MYR during the reporting period[75]. - The company’s cash and cash equivalents at the end of the reporting period stood at 17,699 thousand MYR, down from 61,506 thousand MYR at the beginning of the period[75]. - Cash generated from operating activities was 26,552 thousand MYR, compared to 21,390 thousand MYR in the previous year, indicating a significant increase in operational efficiency[75]. Debt and Liabilities - The total lease liabilities amounted to approximately RM 99,349,000, an increase from RM 38,975,000 as of December 31, 2021[23]. - The group recorded interest-bearing borrowings of approximately RM 48,790,000 as of June 30, 2022, compared to RM 45,687,000 as of December 31, 2021[23]. - The debt-to-equity ratio was 0.56 as of June 30, 2022, up from 0.37 as of December 31, 2021[23]. - The current portion of secured bank borrowings was RM 10,703,000 as of June 30, 2022, up from RM 5,037,000 as of December 31, 2021, representing a significant increase of approximately 112.9%[147]. Corporate Governance and Compliance - The company adhered to the corporate governance code as per the Hong Kong Stock Exchange, with only one regular board meeting held during the six-month period ending June 30, 2022[36]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the six months ending June 30, 2022[42]. - The company has implemented internal control measures and procedures to comply with regulatory changes and best practices[39]. - The company confirmed that all directors complied with the standard code for securities trading during the reporting period[40]. Future Outlook and Strategic Developments - The company is expanding its trucking fleet to support the growth of its land transportation services, which is expected to become a core business segment[15]. - The company is focused on expanding its logistics and transport services, including integrated freight forwarding and fourth-party logistics[78]. - The company has a significant commitment to future lease payments, with 8,165 million MYR due within one year as of June 30, 2022, compared to 6,830 million MYR in the previous year[172]. - The company entered into a conditional share purchase agreement to acquire Access World Group Holdings B.V. for a total consideration of 176.7 million USD (approximately 740.0 million MYR), with a maximum consideration of 180 million USD (approximately 753.8 million MYR)[176].

Acquisition and Expansion - Infinity Logistics and Transport Ventures Limited signed a share purchase agreement with Glencore Plc to acquire its warehousing and logistics business, expanding operations to 25 countries globally[24]. - The acquisition of 70% of a company focused on freight forwarding and cross-border transportation marks the first acquisition for Infinity, aimed at strengthening its third-party logistics capabilities[30]. - The company is committed to continuing its acquisition activities to enhance its investment portfolio and access larger markets[25]. - Infinity Logistics and Transport Ventures Limited is focused on expanding its global customer base through the integration of existing networks from acquisitions[25]. - The company has a vision to provide end-to-end logistics solutions, leveraging synergies from the merger with Glencore's logistics operations[25]. Financial Performance - The company's revenue for the fiscal year was approximately MYR 275,561,000, an increase of about 23.2% compared to the previous fiscal year (MYR 223,669,000)[31]. - Gross profit reached approximately MYR 70,042,000, reflecting a 32.1% increase from the previous fiscal year's gross profit of MYR 53,013,000, with a gross margin improvement from 23.7% to 25.4%[31]. - Net profit for the year was approximately MYR 42,516,000, up from MYR 25,109,000 in the previous fiscal year[31]. - The logistics center segment recorded the highest revenue growth of approximately 28.7%, attributed to the commencement of yard services and increased demand for warehouse storage during the pandemic[31]. - The container liquid bag solutions segment saw a revenue increase of approximately 23.1%, driven by improved sales from major customers[31]. - The land transportation segment experienced an 18.8% revenue growth due to increased demand for transportation services[31]. - The integrated freight forwarding segment's revenue grew by approximately 10.6%, primarily due to increased revenue from maritime services[31]. - The newly launched fourth-party logistics segment generated revenue of approximately MYR 9,600,000[31]. Sustainability and Environmental Goals - The company aims to achieve carbon neutrality by 2025 through the adoption of environmental, social, and governance initiatives[36]. - The company has established short-term and long-term sustainability goals, integrating climate-related issues and ESG elements into its long-term business strategy[73]. - The company aims to achieve carbon neutrality by 2025 by reducing and offsetting carbon emissions from its operations[97]. - Long-term goals include planting one tree for every container liquid bag produced and implementing measures to maintain or reduce air pollutant emissions[97]. - The company plans to convert all diesel material handling equipment to electric equipment in phases[99]. - The company is committed to following green building standards for warehouses and implementing a motive replacement policy to reduce emissions[98]. - The company actively promotes green logistics and environmental policies to support sustainable logistics systems[94]. - The company has established environmental policies to minimize the impact on natural resources and is committed to monitoring climate-related risks[115][117]. Governance and Compliance - The company emphasizes compliance with Malaysian environmental laws and regulations, with no significant costs expected from compliance in the future[94]. - The board of directors is responsible for overseeing the company's ESG matters and ensuring effective risk management systems are in place[74]. - The company has a board of directors that held only two regular meetings during the reporting period to discuss various matters, including annual and interim performance[159]. - The company has established procedures for directors to seek independent professional advice at the company's expense[170]. - The company maintains a clear delineation of responsibilities between the board and management to ensure effective governance[177]. - The Audit Committee consists of three independent non-executive directors, responsible for maintaining relationships with auditors, reviewing financial information, and overseeing the financial reporting system and risk management[185]. - The company emphasizes compliance with legal and regulatory requirements, as well as the effectiveness of its internal control and risk management systems[186]. Employee and Workplace Safety - The total number of employees as of December 31, 2021, was 574, an increase from 490 in 2020, with employee costs amounting to approximately 30,942,000 MYR[65]. - The overall employee turnover rate decreased from 21% in 2020 to 19% in 2021, with male turnover at 21% and female turnover at 15%[124]. - The number of workplace injuries reported was 1 in 2021, down from 4 in 2020, with a total of 35 workdays lost due to injuries[128]. - The company has maintained a zero fatality rate in workplace incidents for three consecutive years from 2019 to 2021[128]. - The company provided training to 42% of male employees and 58% of female employees in 2021, compared to 68% of male and 32% of female employees in 2020[130]. Waste and Emissions - The company generated 1.78 tons of hazardous waste during the reporting period, a significant increase from 0.22 tons in 2020[101]. - Non-hazardous waste amounted to 154.00 tons in 2021, up from 120.00 tons in 2020, resulting in a total waste generation of 155.78 tons[108]. - Greenhouse gas emissions totaled 7,224.90 tons of CO2 equivalent in 2021, an increase of 20.92% from 5,974.67 tons in 2020[103]. - Direct emissions (Scope 1) were 6,635.09 tons in 2021, up from 5,290.49 tons in 2020, while indirect emissions (Scope 2) decreased to 589.81 tons from 684.18 tons[103]. Community Engagement and Social Responsibility - The company made charitable contributions of approximately 66,000 MYR during the reporting period, down from 102,000 MYR in the previous year[156]. - The company is committed to community investment and has established long-term relationships with stakeholders to positively impact community development[156]. - The company provided anti-corruption training to 102 directors and employees during the reporting period, an increase from 61 in the previous year[154]. Supplier Management and Quality Control - The company prioritizes suppliers with ISO 14001 certification and environmentally friendly practices in its supplier selection process[138]. - Quality control measures are in place to ensure high service standards, with regular management reviews and employee training[144]. - The company has established a quality management system that includes supplier selection and operational monitoring to maintain service quality[145].

Infinity Logistics and Transport Ventures Limited （於開曼群島註冊成立之有限公司） 股份代號：1442 CMA CGI 2021 中期報告 公司資料 2 財務摘要 4 管理層討論及分析 5 企業管治及其他資料 12 簡明綜合損益及其他全面收益表 21 簡明綜合財務狀況表 23 簡明綜合權益變動表 25 簡明綜合現金流量表 27 簡明綜合財務報表附註 29 目錄 1 INFINITY LOGISTICS AND TRANSPORT VENTURES LIMITED 公司資料 | --- | --- | |------------------------------------|--------------------------------------| | | | | 董事會 | 薪酬委員會 | | | Tan Poay Teik 先生 （委員會主席） | | 執行董事 | Dato' Kwan Siew Deeg | | Dato' Chan Kong Yew （首席執行官） | 楊凱恩女士 | | Dato' Kwan Siew Deeg | | | Da ...

Financial Performance - Infinity Logistics and Transport Ventures Limited reported a significant increase in revenue, achieving a total of $XX million, representing a YY% growth compared to the previous year[3]. - The company has expanded its user base, now serving ZZ million customers, which is an increase of AA% year-over-year[5]. - For the upcoming fiscal year, Infinity Logistics has provided guidance for revenue growth of BB%, projecting total revenues to reach $CC million[6]. - Revenue for the fiscal year 2020 reached 223,669 thousand MYR, an increase from 209,432 thousand MYR in 2019, representing a growth of 6.0%[9]. - The gross profit for 2020 was 53,013 thousand MYR, slightly down from 53,907 thousand MYR in 2019, indicating a decrease of 1.7%[9]. - The net profit for the fiscal year 2020 was 25,109 thousand MYR, up from 19,480 thousand MYR in 2019, reflecting a significant increase of 28.9%[9]. - The company reported revenue of approximately 223,669,000 MYR for the year ended December 31, 2020, an increase of about 6.8% compared to 209,432,000 MYR in 2019[20]. - Gross profit for the year was approximately 53,013,000 MYR, a decrease of about 1.7% from 53,907,000 MYR in 2019, resulting in a gross margin decline from approximately 25.7% to 23.7%[20]. - Net profit increased to approximately 25,109,000 MYR, up from 19,480,000 MYR in 2019[20]. Operational Developments - The company is actively investing in new product development, with a budget allocation of $DD million for R&D initiatives aimed at enhancing service offerings[7]. - Infinity Logistics is implementing new technologies to improve operational efficiency, with an expected cost reduction of GG% in logistics operations[6]. - The company is undergoing a digital transformation through the IDEAS program to enhance operational efficiency and data visibility across the supply chain[17]. - The company anticipates that the air freight market revenue will surge due to the growing demand from e-commerce and global trade[12]. - The logistics center and related services saw a revenue growth of 17.3% during the year, driven by increased demand for warehousing services due to the pandemic[11]. - The company plans to construct a logistics center covering 18 acres with a net storage space of 257,000 square feet, expected to be completed in Q3 2021[18]. - The company anticipates continued business volume growth and is preparing to construct two warehouses to meet new demand, with one expected to be completed in Q3 2021 and the other in Q2 2022[24]. Market Expansion and Acquisitions - Infinity Logistics is pursuing market expansion strategies, targeting new regions with an expected increase in market share of EE% over the next two years[8]. - The company has completed a strategic acquisition of a competitor, which is anticipated to contribute an additional $FF million in annual revenue[5]. Sustainability and Environmental Initiatives - The management team highlighted a focus on sustainability initiatives, aiming to reduce carbon emissions by HH% by 2025[7]. - The company reported a total greenhouse gas emissions of 5,998.93 tons in 2020, an increase from 4,302.71 tons in 2019, representing a 39.4% rise[66]. - The company aims to reduce its carbon footprint and environmental impact through green logistics and environmental policies[60]. - The company has established detailed environmental rules and guidelines for waste disposal, particularly for hazardous waste, to minimize environmental impact[63]. - The company has implemented various measures to improve resource efficiency, including the use of LED lighting and monitoring water and electricity consumption[73]. - Total energy consumption increased to 22,403,705.52 kWh in 2020 from 14,487,079.00 kWh in 2019, representing a growth of approximately 55.5%[76]. - Diesel consumption rose significantly to 20,613,599.49 kWh in 2020, up from 12,490,630.00 kWh in 2019, marking an increase of about 65.5%[76]. - The company reported a total of 684.18 tons of indirect emissions from purchased electricity and natural gas in 2020, down from 764.88 tons in 2019, indicating a 10.5% reduction[66]. Shareholder Value and Dividends - Infinity Logistics is committed to enhancing shareholder value, with plans to increase dividends by JJ% in the upcoming fiscal year[5]. - The company declared an interim dividend of 0.0007 USD per share, totaling approximately 1,400,000 USD (equivalent to about 6,000,000 MYR) for shareholders listed on September 7, 2020[38]. - Future dividend payments will be determined by the board based on profitability, cash flow, financial condition, and capital requirements[193]. Corporate Governance - The company has complied with the corporate governance code since its listing date, with all independent non-executive directors confirming their independence[117]. - The board composition includes a mix of executive and independent non-executive directors, ensuring compliance with listing rules regarding independence[117]. - The company has adopted corporate governance principles that align with the interests of its shareholders[112]. - The board of directors is responsible for ensuring the timely publication of the group's financial statements[138]. - The audit committee consists of three independent non-executive directors and is responsible for maintaining relationships with auditors and reviewing financial information[148]. - The company has established a shareholder communication policy to ensure timely access to information for shareholders and potential investors[192]. Employee Development and Social Responsibility - The company emphasizes employee training and development to enhance skills and maintain a competitive workforce[80]. - The total number of employees rose to 490 in 2020, up from 486 in 2019, indicating a growth of about 0.8%[83]. - The company has actively engaged in community service and charitable activities to fulfill its social responsibilities[62]. - The company made charitable contributions of approximately 102,000 MYR during the reporting period, an increase from 70,000 MYR in 2019[110]. - The company reported 4 work-related injury cases in 2020, resulting in a total of 57 lost workdays[86]. Risk Management - The company has engaged an independent professional consulting firm to assess the effectiveness and adequacy of its risk management and internal control systems during the reporting period[177]. - The board believes that the risk management and internal control systems are adequate and effective during the reporting period[177]. - The company emphasizes that its risk management and internal control systems aim to manage risks rather than eliminate them, providing reasonable assurance against significant misstatements or losses[177].

Financial Performance - Revenue for the six months ended June 30, 2020, was RM 103,269,000, an increase from RM 98,714,000 in the same period last year, representing a growth of 4.9%[19] - Gross profit for the same period was RM 24,717,000, compared to RM 23,628,000 in 2019, maintaining a gross margin of 23.9%[19] - Net profit for the six months was RM 13,218,000, up from RM 8,531,000 in the previous year, resulting in a net profit margin of 12.8%[19] - The comprehensive income for the period totaled RM 14,868,000, compared to RM 8,245,000 in the previous year[19] - Profit before tax increased to RM 14,376,000, compared to RM 10,834,000 in the previous year, representing a growth of 32.5%[75] - Net profit for the period was RM 13,218,000, a significant increase of 55.5% from RM 8,531,000 in 2019[75] - Total comprehensive income for the period was RM 14,868,000, compared to RM 8,245,000 in the previous year, indicating a strong performance[77] - Basic and diluted earnings per share increased to 0.68 sen, up from 0.57 sen in the previous year[77] Revenue Segmentation - The logistics center segment recorded a revenue increase of 29.2% compared to the same period last year[15] - Revenue from integrated freight forwarding services increased by approximately 3.6% to about 35,875,000 MYR, while gross profit decreased by about 6.9% to approximately 6,889,000 MYR due to price competition[25] - Revenue from logistics center and related services rose by approximately 29.2% to about 30,420,000 MYR, with gross profit increasing by approximately 77.6% to about 6,001,000 MYR due to the completion of a second warehouse in the Port Klang Free Trade Zone[25] - The revenue from logistics center and related services was 27,311 thousand MYR for the six months ended June 30, 2020, up from 22,805 thousand MYR in 2019, indicating a growth of about 19%[121] - The revenue from freight forwarding services was 35,875 thousand MYR for the six months ended June 30, 2020, compared to 34,617 thousand MYR in 2019, reflecting a slight increase of approximately 3.6%[121] - The group’s revenue from external customers in Malaysia was 59,952 thousand MYR for the six months ended June 30, 2020, compared to 51,020 thousand MYR in 2019, marking an increase of approximately 17%[118] - The group’s revenue from Indonesia was 8,424 thousand MYR for the six months ended June 30, 2020, down from 11,016 thousand MYR in 2019, representing a decline of about 23.6%[118] Asset Management - Non-current assets as of June 30, 2020, amounted to RM 159,157,000, an increase from RM 144,694,000 at the end of 2019[22] - Current assets increased significantly to RM 138,403,000 from RM 73,414,000 at the end of 2019[22] - Total assets less current liabilities increased to 243,671 thousand MYR from 153,928 thousand MYR, reflecting a growth of about 58.5%[81] - Total equity increased to 170,758 thousand MYR as of June 30, 2020, up from 83,297 thousand MYR at the end of 2019, representing a growth of about 104.5%[81] - Cash and cash equivalents surged to 81,444 thousand MYR from 17,180 thousand MYR, indicating a significant increase of approximately 373%[79] - The company’s interest-bearing loans decreased to 48,270 thousand MYR from 50,778 thousand MYR, showing a reduction of about 4.9%[81] Cost Management - Operating costs totaled approximately 78,552,000 MYR, an increase of about 4.6% or 3,466,000 MYR compared to the previous year[26] - Administrative and other operating expenses decreased to RM 8,084,000 from RM 8,754,000, showing improved cost management[75] - Financial expenses rose to RM 2,401,000 from RM 1,648,000, indicating increased borrowing costs[75] - Total employee costs amounted to 11,065 thousand MYR, up from 10,402 thousand MYR, indicating an increase of 6.4%[127] Strategic Initiatives - The company has implemented digital transformation initiatives, allowing employees to work remotely without increasing headcount while maintaining business and revenue growth[14] - The company has made strategic decisions to optimize resources and reduce costs during the pandemic, including reallocating employees to meet increased demand in certain segments[11] - The company anticipates a rebound in the Malaysian economy, projecting a growth of 6.9% in 2021 as the world recovers from the pandemic[16] Capital and Financing - The company raised approximately MYR 62.7 million from the issuance of 500,000,000 shares at a final sale price of MYR 0.31 per share[43] - As of the mid-term report date, MYR 50.4 million of the net proceeds remains unutilized and is deposited in a licensed bank in Malaysia[45] - The company has utilized approximately MYR 12.3 million of the net proceeds, which is lower than the planned usage[45] - The company plans to utilize the remaining net proceeds starting from Q3 2020[45] - MYR 46 million of the net proceeds is allocated for the Westport Free Trade Zone project, with MYR 45.7 million still available for use[43] Dividend and Shareholder Returns - The board declared an interim dividend of 0.0007 USD per share for the six months ended June 30, 2020, expected to be paid around September 30, 2020[40] - The company declared an interim dividend of approximately 6,000,000 MYR, compared to 17,271 thousand MYR in the previous year, which was not declared in 2020[134] Governance and Compliance - The company has complied with corporate governance best practices, with only one regular board meeting held during the reporting period[47] - The mid-term financial statements were approved by the board of directors on August 19, 2020[184]

Financial Performance - In the fiscal year 2019, Infinity Logistics reported a revenue of 209,432 thousand MYR, representing an increase from 201,183 thousand MYR in 2018, which is approximately a 4.1% growth[10] - The company's net profit for 2019 was 53,907 thousand MYR, up from 44,275 thousand MYR in 2018, indicating a growth of about 21.9%[10] - Total assets increased to 144,694 thousand MYR in 2019 from 103,360 thousand MYR in 2018, reflecting a growth of approximately 39.9%[10] - The company's total liabilities decreased to 73,414 thousand MYR in 2019 from 91,692 thousand MYR in 2018, showing a reduction of about 19.9%[10] - The company reported revenue of approximately 209,432,000 MYR for the year ended December 31, 2019, representing a growth of about 4.1% compared to 2018[20] - Gross profit increased to approximately 53,907,000 MYR, a rise of about 21.8%, with the gross profit margin improving from approximately 22.0% in 2018 to about 25.7% in 2019[20] - The logistics center and related services generated revenue of approximately 54,882,000 MYR, up about 2.0%, with gross profit increasing by 151.9% to approximately 10,000,000 MYR[21] - The company recorded a net profit of approximately 19,480,000 MYR for the year, down from approximately 22,503,000 MYR in 2018[20] - The container liquid bag solutions segment saw a slight revenue decrease of about 1.8% to approximately 62,359,000 MYR, with gross profit slightly increasing to approximately 22,588,000 MYR[22] - The company’s operating costs totaled approximately 155,525,000 MYR, a decrease of about 0.9% compared to the previous year[23] - Other income increased by approximately 77.1% to about 2,258,000 MYR, primarily due to gains from the sale of properties, plants, and equipment[23] Strategic Plans and Investments - Infinity Logistics plans to expand its market presence in Southeast Asia, focusing on enhancing logistics capabilities and service offerings[10] - The company is investing in new technology to improve operational efficiency and customer service, aiming for a 15% reduction in delivery times by 2021[10] - Infinity Logistics is exploring potential acquisitions to strengthen its market position and diversify its service portfolio[10] - The management has set a revenue target of 250,000 thousand MYR for the fiscal year 2020, representing a projected growth of approximately 19.4%[10] - The company plans to allocate approximately 46,000,000 MYR (73.3% of net proceeds) for the construction of a multi-purpose logistics park in Westports, Port Klang[12] - Approximately 5,000,000 MYR (8.0% of net proceeds) will be used to purchase tractors and trailers to expand the transportation fleet[13] - The company aims to enhance its IT systems with an investment of approximately 2,000,000 MYR over the next two years to improve operational efficiency[14] Sustainability and Corporate Responsibility - Infinity Logistics is committed to sustainability initiatives, aiming to reduce carbon emissions by 30% over the next five years through optimized logistics solutions[10] - The company has made charitable donations amounting to approximately 70,000 MYR during the reporting period[122] - The company is committed to environmental sustainability and compliance with relevant laws and regulations[120] Governance and Compliance - The company is committed to ensuring compliance with corporate governance codes and has established three committees: audit, remuneration, and nomination[56] - The audit committee is responsible for maintaining relationships with external auditors and overseeing the financial reporting system[57] - The board of directors is responsible for ensuring timely publication of the consolidated financial statements[48] - The company has a policy for the rotation of directors, ensuring that at least one-third of the board retires at each annual general meeting[46] - The company has adopted a board diversity policy to ensure a balance of skills, experience, and perspectives among board members[66] - The board is responsible for ongoing supervision of the group's risk management and internal control systems, reviewing their effectiveness at least annually[73] - The management confirmed that no significant deficiencies or weaknesses were found in the internal control systems during the reporting period[76] Shareholder Information - The company encourages shareholders to attend the annual general meeting to exercise their rights[81] - The company has established a shareholder communication policy to ensure timely access to information for shareholders and potential investors[84] - Future dividend payments will be determined by the board based on profitability, cash flow, financial condition, and other relevant factors[86] - The company did not recommend a final dividend for the reporting period[112] Management and Leadership - Dato' Chan Kong Yew was appointed as the CEO and Chairman of the Board on May 29, 2019, and has over 23 years of experience in the logistics industry[90][91] - Dato' Kwan has over 18 years of experience in the logistics industry, overseeing operational processes and optimizing operational efficiency[93] - Dato' Lo has been with the group since March 2003, overseeing general administrative policies and human resources development[95] - The financial operations are overseen by Ng Soon Aik, who has extensive experience in financial management and risk control[102] - The management team includes individuals with significant experience in the logistics and transportation sectors, enhancing the company's strategic capabilities[98] Related Party Transactions and Agreements - The company has disclosed related party transactions in the financial statements, with specific details provided in the relevant sections[162] - The total transaction amount under the main supply agreement during the reporting period was 37,080 MYR[180] - The largest supplier accounted for approximately 15.7% of the total cost of services and goods sold by the group, while the top five suppliers represented 43.9%[182] - The largest customer contributed about 5.6% of the total revenue, with the top five customers accounting for 19.3%[183] Share Option Scheme - The company has adopted a share option scheme on December 14, 2019, aimed at rewarding contributions from eligible participants[145] - The total number of shares available for issuance under the share option scheme is capped at 200,000,000 shares, representing 10% of the issued share capital as of January 21, 2020[148] - Each participant in the share option scheme is limited to a maximum of 1% of the total issued shares within a twelve-month period[150] - The share option scheme is valid for a period of ten years from January 21, 2020, to January 20, 2030[155] - No share options have been granted, exercised, or lapsed since the adoption of the share option scheme as of December 31, 2019[155]