Financial Performance - For the three months ended March 31, 2023, the total revenue of the group was approximately MYR 26.6 million, a decrease of about 31.0% compared to the same period in 2022[3] - The gross profit for the same period was approximately MYR 2.5 million, down approximately 41.7% year-on-year[3] - The group recorded a net loss of approximately MYR 2.5 million for the three months ended March 31, 2023[3] - The loss attributable to the owners of the company was approximately MYR 2.5 million, compared to a loss of MYR 0.3 million in the same period last year[5] - The basic and diluted loss per share for the period was 0.40 sen, compared to 0.05 sen in the previous year[5] - The group’s total comprehensive income for the period was a loss of MYR 2.3 million, compared to a loss of MYR 0.1 million in the same period last year[4] - The adjusted loss before tax for the group was 629,000 MYR, compared to a profit of 815,000 MYR in the same quarter last year[11] Revenue Breakdown - The total revenue for the first quarter of 2023 was 26,633,000 MYR, a decrease of 30.9% compared to 38,612,000 MYR in the same period of 2022[10] - The revenue from the freight forwarding and related services segment was 6,543,000 MYR, down 72.8% from 24,051,000 MYR year-over-year[11] - The revenue from the second-hand mobile phone trading segment increased significantly to 14,220,000 MYR, up 132.3% from 6,137,000 MYR in the previous year[11] - The manufacturing and trading of plastic products segment generated 5,870,000 MYR, a decline of 30.4% from 8,424,000 MYR in the same quarter of 2022[11] - Total revenue from integrated logistics services for the three months ended March 31, 2023, was approximately MYR 6.5 million, a decrease of about 72.8% or MYR 17.5 million compared to MYR 24.1 million in the same period of 2022[32] - Air freight services revenue for the three months ended March 31, 2023, was approximately MYR 1.9 million, a decrease of about 87.2% from MYR 14.8 million in the same period of 2022[24] - Sea freight services revenue for the three months ended March 31, 2023, was approximately MYR 4.3 million, down from MYR 8.2 million in the same period of 2022, representing a decrease of about MYR 3.9 million[26] Expenses and Costs - The group’s sales and administrative expenses increased to MYR 5.4 million from MYR 4.5 million year-on-year[4] - The group’s financing costs decreased to MYR 0.114 million from MYR 0.216 million year-on-year[4] - The depreciation expense for property, plant, and equipment was 518,000 MYR, down from 787,000 MYR in the same quarter of 2022[15] - The interest income for the quarter was 32,000 MYR, a decrease from 43,000 MYR in the previous year[11] - Selling and administrative expenses were approximately RM 5.4 million for the three months ended March 31, 2023, compared to RM 4.5 million in 2022[41] Dividend and Shareholder Information - The board of directors did not recommend the payment of an interim dividend for the three months ended March 31, 2023[3] - The company did not recommend any interim dividend for the quarter ending March 31, 2023, consistent with the previous year[16] - As of March 31, 2023, Win All Management Limited holds 188,360,000 shares, representing 29.73% of the company's total shares[55] Strategic Plans and Future Outlook - The company aims to expand its logistics services in Malaysia and China to cover cross-border freight, trucking, and rail freight, capitalizing on the recovery of the regional economy[31] - The company plans to enhance its logistics operations in Hong Kong to attract more Chinese and international clients, which is expected to improve capital efficiency and generate additional investment returns[31] - The company believes that diversifying into the manufacturing and trading of plastic products and second-hand mobile phones will provide further business opportunities and expand its existing operations[31] - The company plans to utilize funds raised from a rights issue for operational capital and expansion of logistics services in Hong Kong, with a total of approximately HKD 51.9 million allocated for this purpose[45] - The company is in discussions to establish a joint venture with Suining International Limited, focusing on investments in green energy and environmental projects[50] - The company signed a strategic cooperation agreement with Zhongwei Supply Chain Limited on January 5, 2023, to enhance its supply chain business, leveraging logistics services and a broad logistics network[51] - The board decided to reallocate approximately HKD 26.1 million originally intended for expanding logistics services in Hong Kong to general working capital and investment purposes[53] Compliance and Governance - The company has complied with all applicable provisions of the Corporate Governance Code during the three months ending March 31, 2023[61] - The audit committee, consisting of independent non-executive directors, was established to oversee financial reporting and internal control processes[62] - The first quarter financial statements were reviewed by the audit committee but not audited by the company's external auditor[63]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會就本公佈之 全部或任何部份內容而產生或倚賴該等內容而引致之任何損失承擔任何責任。 WORLDGATE GLOBAL LOGISTICS LTD 盛 良 物 流 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8292） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 三 個 月 第 一 季 度 業 績 公 佈 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯 交所上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司 的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所 主板買賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券 會有高流通量的市場。 本公佈的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在 提供有關盛良物流有限公司（「本公司」）的資料。本公司董事（「董事」）願就本公 ...

Revenue and Financial Performance - Air freight service revenue for the fiscal year was approximately RM 27.6 million, an increase of about 54.0% compared to RM 17.9 million in the previous year[10]. - Sea freight service revenue was approximately RM 27.9 million, a decrease of about 8.5% from RM 30.5 million in the previous year[13]. - Revenue from freight and related services was approximately RM 1.8 million, a significant decrease from RM 18.8 million in the previous year[15]. - Revenue from logistics services in Hong Kong decreased by 91.1% to approximately RM 1.6 million, down from RM 18.0 million in the previous year, representing about 1.2% of total revenue[20]. - Total revenue from integrated logistics services was approximately RM 57.4 million, a decrease of about 15.7% or RM 10.7 million compared to RM 68.0 million in the previous year[30]. - Revenue from the manufacturing and trading of plastic products was approximately RM 25.7 million in the fiscal year, an increase from RM 20.9 million in the previous year[18]. - Revenue from the trading of second-hand mobile phones reached approximately RM 51.5 million, accounting for about 38.3% of total revenue, with a pre-tax segment loss of approximately RM 3.7 million[19]. - The group recorded a loss of approximately 12.6 million MYR for the fiscal year, compared to a loss of 11.6 million MYR in the previous year[44]. Logistics and Market Strategy - The company aims to enhance its market position in Hong Kong despite intense competition in the logistics sector[8]. - The logistics services provided include air/sea freight forwarding, warehousing, and supply chain management[7]. - The company aims to expand its logistics business in Malaysia and China, focusing on cross-border freight, towing, and rail freight services[29]. - The logistics sector in Malaysia is characterized by high fragmentation and competition, impacting pricing and service offerings[8]. - The company is focused on adjusting its strategies and operations in response to market conditions[8]. - The company is committed to providing comprehensive logistics solutions to meet customer needs[7]. Corporate Governance and Board Structure - The company has a strong board of directors with a mix of executive and independent non-executive members, ensuring balanced governance[98]. - The independent non-executive director, Mr. Huang, has over 30 years of experience in accounting, finance, and auditing, enhancing the board's expertise[81]. - The company adheres to the GEM Listing Rules and has complied with all applicable corporate governance codes throughout the fiscal year[91]. - The board is responsible for setting the group's strategy and direction, as well as monitoring its execution[94]. - The company emphasizes the importance of independent judgment within the board, with a balanced composition of directors[97]. - The company has a dedicated audit committee, which is crucial for maintaining financial integrity and transparency[81]. - The board has established a trading code for directors to ensure compliance with securities trading standards[92]. - The company has a commitment to enhancing shareholder value through effective corporate governance practices[91]. Risk Management and Internal Controls - The company has established a continuous process to identify, assess, and manage significant risks faced by the group, ensuring compliance with GEM listing rules[143]. - The internal control system aims to maintain the company's assets and ensure accurate and reliable financial reporting[142]. - The board will review its risk management and internal control systems at least annually to ensure effectiveness and efficiency[142]. - The company has adopted a series of internal control policies and procedures to achieve effective operations and compliance with applicable laws and regulations[142]. - The audit committee reviewed the effectiveness of the internal control and risk management systems[120]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to sustainable development, focusing on reducing usage, maximizing resource efficiency, and promoting recycling[179]. - The company has implemented strict policies to prevent pollution and protect natural resources, complying with environmental laws and regulations[179]. - The environmental, social, and governance (ESG) report is prepared according to the Hong Kong Stock Exchange GEM listing rules, ensuring consistency and comparability of data[170]. - Key performance indicators are established to measure the effectiveness of the company's environmental and social initiatives[171]. - The company engages stakeholders through regular communication to identify significant environmental and social issues[174]. - The board of directors oversees the company's ESG policies and performance, making adjustments as necessary[175]. Employee Management and Development - The total employee compensation for the fiscal year reached 13.7 million MYR, an increase from 12.3 million MYR in the previous year, with a total of 435 full-time employees as of December 31, 2022[67]. - The employee turnover rate for 2022 was 34.9%, with 45.6% of resignations coming from employees under 30 years old[199]. - The company emphasizes employee training and development to enhance customer engagement and timely delivery[167]. - The company collaborates with local universities to provide internship programs, offering real business experience and daily expense allowances to interns[197]. - The company has implemented a key performance indicator system to evaluate employee performance based on four standards: "far exceeds expectations," "exceeds expectations," "meets expectations," and "below expectations"[195]. - The company is committed to providing a safe and healthy work environment, following occupational safety laws in the regions it operates[200].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會就本公佈之 全部或任何部分內容而產生或倚賴該等內容而引致之任何損失承擔任何責任。 WORLDGATE GLOBAL LOGISTICS LTD 盛 良 物 流 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8292） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 全 年 業 績 公 佈 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯 交所上市之公司帶有較高投資風險。有意投資者應了解投資於該等公司之潛 在風險，並應經過審慎周詳考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣之證券可能會承受較於聯 交所主板買賣之證券為高之市場波動風險，同時亦無法保證在GEM買賣之證 券將會有高流通量之市場。 本公佈乃根據聯交所GEM證券上市規則（「GEM上市規則」）提供有關盛良物流 有限公司（「本公司」）的資料。本公司董事（「董事」）願就本公佈共同及個別承擔 全部責任。董 ...

Financial Performance - For the nine months ended September 30, 2022, the total revenue of the group was approximately RM 101.8 million, an increase of about 65.3% compared to the same period in 2021[3] - The gross profit for the nine months ended September 30, 2022, was approximately RM 11.2 million, representing an increase of about 45.4% year-on-year[3] - The group recorded a net loss of approximately RM 5.4 million for the nine months ended September 30, 2022[3] - The total comprehensive loss for the nine months ended September 30, 2022, was RM 1.0 million, compared to a loss of RM 3.9 million for the same period in 2021[5] - The basic and diluted loss per share for the nine months ended September 30, 2022, was 0.86 sen, compared to 3.7 sen for the same period in 2021[5] - The loss attributable to the company's owners for the nine months ended September 30, 2022, was 5,436,000 MYR, compared to 5,085,000 MYR for the same period in 2021, indicating an increase in loss of about 6.9%[23] - The company recorded a loss of approximately MYR 5.4 million for the nine months ended September 30, 2022, compared to a loss of MYR 5.1 million in 2021[48] Revenue Breakdown - For the three months ended September 30, 2022, the revenue was RM 33.7 million, compared to RM 22.8 million for the same period in 2021, reflecting a growth of approximately 47.8%[4] - The total revenue for the nine months ended September 30, 2022, was 101,803 thousand MYR, a significant increase from 61,596 thousand MYR in the same period of 2021, representing a growth of approximately 64.9%[10] - The revenue from the air freight and related services for the three months ended September 30, 2022, was 5,319 thousand MYR, compared to 6,332 thousand MYR in the same period of 2021, showing a decline of about 16%[16] - The sales of second-hand mobile phones generated 35,745 thousand MYR in revenue for the nine months ended September 30, 2022, with no revenue reported in the same period of 2021, indicating a new revenue stream[10] - The revenue from the manufacturing and trading of plastic products for the nine months ended September 30, 2022, was 18,731 thousand MYR, up from 13,165 thousand MYR in the same period of 2021, reflecting a growth of approximately 42.3%[10] - The revenue from external customers in Malaysia for the nine months ended September 30, 2022, was 45,950 thousand MYR, an increase from 33,672 thousand MYR in the same period of 2021, representing a growth of about 36.4%[15] - Revenue from shipping services for the nine months ended September 30, 2022, was approximately MYR 20.8 million, a decrease of 8.8% from MYR 22.8 million in the same period of 2021[31] - Revenue from freight services not involving air or sea transport was approximately MYR 2.7 million in 2022, a significant decrease from MYR 14.0 million in 2021[32] - Total revenue from integrated logistics services for the nine months ended September 30, 2022, was approximately MYR 47.3 million, a decrease of 2.3% from MYR 48.4 million in 2021[37] - Revenue from the sale of second-hand mobile phones was approximately MYR 35.7 million in 2022, representing about 35.1% of total revenue[35] Expenses and Costs - The cost of sales for the three months ended September 30, 2022, was RM 30.4 million, resulting in a gross profit of RM 3.2 million[4] - The total financing costs for the nine months ended September 30, 2022, were 730 thousand MYR, compared to 580 thousand MYR in the same period of 2021, indicating an increase of approximately 25.9%[12] - The depreciation of property, plant, and equipment for the nine months ended September 30, 2022, was 1,935 thousand MYR, down from 2,986 thousand MYR in the same period of 2021, showing a decrease of about 35.2%[12] - Administrative expenses increased to approximately MYR 16.9 million in 2022, compared to MYR 12.2 million in 2021[46] Dividends and Shareholder Information - The board of directors did not recommend the payment of an interim dividend for the nine months ended September 30, 2022[3] - The company did not recommend any interim dividend for the nine months ended September 30, 2022, consistent with the previous year[18] - The company did not recommend an interim dividend for the nine months ended September 30, 2022, compared to no dividend in the previous year[49] - As of September 30, 2022, Win All Management Limited holds 188,380,000 shares, representing 29.73% of the company's equity[53] - The average number of ordinary shares in issue for the nine months ended September 30, 2022, was 633,600,000 shares, compared to 136,536,264 shares for the same period in 2021, reflecting a substantial increase in share count[27] - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ended September 30, 2022[56] Strategic Plans and Market Position - The company aims to expand its logistics services and second-hand mobile phone business in Malaysia and China to enhance revenue diversification and improve capital efficiency[36] - The company plans to closely monitor market conditions and adjust its strategies and operations as necessary to maintain its market position in logistics services[28] Compliance and Governance - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[59] - The audit committee, consisting of independent non-executive directors, has reviewed the financial statements for the third quarter[60] - The company confirmed that there are no competing interests from major shareholders or their associates during the reporting period[57] Other Financial Information - The company reported other comprehensive income of RM 4.3 million for the nine months ended September 30, 2022, primarily due to foreign exchange differences[6] - The total equity attributable to owners of the company as of September 30, 2022, was RM 64.7 million, compared to RM 43.2 million at the beginning of the year[6] - The company raised approximately HKD 51.9 million through a rights issue, issuing up to 475,200,000 shares at a subscription price of HKD 0.11 per share to expand its logistics services[50] - The actual use of funds includes HKD 15 million for logistics services, HKD 6.47 million for salary expenses, and HKD 2.17 million for postal and courier fees, totaling HKD 25.88 million[51] - The company has a remaining balance of approximately HKD 26.07 million deposited in reputable banks[51] - As of September 30, 2022, there are 800,000 shares available for issuance under the share option scheme, representing 0.13% of the issued shares[55] - The estimated taxable profit for Malaysian income tax is calculated at a statutory rate of 24% for both 2022 and 2021[7] - The estimated taxable profit for Vietnam income tax is calculated at a statutory rate of 20% for both 2022 and 2021[21]

Fund Utilization - The net proceeds from the first share placement amounted to HKD 1,900,000, which was fully utilized for administrative, professional, legal, and registration fees [3]. - The second share placement generated net proceeds of HKD 3,800,000, with HKD 2,592,000 utilized by June 30, 2022, leaving a balance of HKD 1,208,000 [4]. - The company plans to use HKD 51,942,000 from the rights issue for expanding logistics services in Hong Kong, with no amount utilized as of December 31, 2021 [4]. - As of June 30, 2022, HKD 10,876,000 of the funds for expanding logistics services had been utilized, with the remaining balance expected to be fully used by the end of 2023 [4].

Financial Performance - For the six months ended June 30, 2022, the total revenue was approximately MYR 68.1 million, an increase of about 75.6% compared to the same period in 2021[3] - The gross profit for the same period was approximately MYR 8.0 million, reflecting a growth of about 77.0% year-on-year[3] - The company recorded a net loss of approximately MYR 3.9 million for the six months ended June 30, 2022[3] - The total comprehensive loss for the three months ended June 30, 2022, was MYR 2.1 million, compared to a loss of MYR 2.5 million in the same period of 2021[5] - The basic and diluted loss per share for the six months ended June 30, 2022, was 0.64 sen, compared to 3.3 sen for the same period in 2021[5] - For the six months ended June 30, 2022, the company reported a net loss of 4,118 thousand MYR, compared to a net loss of 4,053 thousand MYR for the same period in 2021[8] - The company reported a loss before tax of RM 4,053,000 for the six months ended June 30, 2022, compared to a loss of RM 4,118,000 in the same period of 2021, indicating a slight improvement[25] Revenue Breakdown - Revenue from freight forwarding and related services for the six months ended June 30, 2022, was 34,927 thousand MYR, an increase of 15.5% from 30,259 thousand MYR in 2021[13] - The company generated 17,991 thousand MYR from the sale of second-hand mobile phones in the first half of 2022, with this segment not having any revenue in the same period of 2021[13] - The manufacturing and trading of plastic products segment reported revenue of 15,224 thousand MYR for the six months ended June 30, 2022, up from 8,550 thousand MYR in 2021, representing an increase of 78.5%[13] - External customer revenue for the six months ended June 30, 2022, was RM 68,142,000, a significant increase from RM 38,809,000 in the same period of 2021, representing an increase of 75.5%[14] - The revenue from the freight forwarding and related services segment for the six months ended June 30, 2022, was RM 52,918,000, up from RM 30,259,000 in 2021, reflecting a growth of 74.8%[18] - Revenue from the sale of second-hand mobile phones was RM 17,991,000 for the six months ended June 30, 2022, compared to RM 0 in 2021, indicating a new revenue stream[18] - Revenue from the manufacturing and trading of plastic products for the six months ended June 30, 2022, was RM 15,224,000, up from RM 8,550,000 in 2021, marking an increase of 77.5%[18] - Revenue from air freight services accounted for approximately 52.9% of total logistics revenue in the first half of 2022, compared to 42.1% in the same period of 2021[44] - The shipping service revenue for the six months ended June 30, 2022, was approximately MYR 14.7 million, up from MYR 13.8 million in the same period of 2021[37] - Revenue from the sale of second-hand mobile phones was approximately MYR 18.0 million for the six months ended June 30, 2022, representing about 26.4% of total revenue[42] Assets and Liabilities - Non-current assets as of June 30, 2022, totaled MYR 26.1 million, down from MYR 28.3 million as of December 31, 2021[6] - Current assets amounted to MYR 69.6 million as of June 30, 2022, slightly down from MYR 69.7 million at the end of 2021[6] - Total liabilities were MYR 30.1 million as of June 30, 2022, compared to MYR 31.1 million at the end of 2021[7] - The company's equity attributable to owners was MYR 63.4 million as of June 30, 2022, down from MYR 65.8 million at the end of 2021[7] - The total equity attributable to the owners of the company as of June 30, 2022, was 45,220 thousand MYR, a decrease from 43,163 thousand MYR as of January 1, 2022[8] - The company's total assets as of June 30, 2022, were 64,665 thousand MYR, compared to 66,853 thousand MYR as of January 1, 2022[8] - Trade payables as of June 30, 2022, totaled 16,164,000 MYR, compared to 14,634,000 MYR as of December 31, 2021[31] Cash Flow and Expenses - The company’s total cash flow from operating activities was a net outflow of 6,370 thousand MYR for the six months ended June 30, 2022, compared to an outflow of 5,794 thousand MYR in 2021[9] - Cash and cash equivalents decreased by 8,676 thousand MYR for the six months ended June 30, 2022, compared to a decrease of 1,122 thousand MYR for the same period in 2021[9] - The company incurred employee costs of RM 9,002,000 for the six months ended June 30, 2022, an increase from RM 7,223,000 in 2021, representing a rise of 24.6%[19] - Administrative expenses increased to approximately MYR 11.8 million in the first half of 2022 from MYR 8.3 million in the same period of 2021[53] - Financing costs for the six months ended June 30, 2022, totaled RM 483,000, compared to RM 385,000 in 2021, reflecting an increase of 25.5%[14] - The company reported a tax expense of RM 51,000 for the six months ended June 30, 2022, down from RM 122,000 in 2021, indicating a decrease of 58.2%[21] Strategic Initiatives - The company plans to continue expanding its logistics services in Malaysia and Hong Kong, focusing on international freight forwarding and related services[11] - The company has not reported any new product launches or significant technological advancements during this period[11] - The company is expanding its operations in Malaysia by hiring new sales personnel and establishing new offices in strategic locations[65] - The company has implemented a new integrated system, Sovy Logistic Solutions, to replace its previous freight management systems[68] - The company is actively monitoring foreign currency risks and considering hedging activities to mitigate the impact of exchange rate fluctuations on its operations[63] - The company has reallocated 11.8 million HKD to establish logistics operations in Hong Kong and 3.9 million HKD for further development in the same region[66] - The company has invested in a warehousing system to support e-commerce activities related to order management and fulfillment[69] Shareholder and Governance - Win All Management Limited holds a 29.73% stake in the company, indicating significant shareholder interest[74] - The company has a stock option plan in place, with 800,000 shares (0.13% of issued shares) available for issuance under this plan[76] - The company aims to attract and retain talented employees through its stock option plan, enhancing overall business performance[76] - The company confirmed that there are no direct or indirect competitive interests held by major shareholders or their close associates in any business that may compete with the group as of June 30, 2022[78] - All directors have confirmed compliance with the trading standards and the company's code of conduct regarding securities trading during the six months ended June 30, 2022[79] - The company has adhered to the corporate governance code as outlined in the GEM Listing Rules throughout the fiscal year[80] - An audit committee was established on June 17, 2016, consisting of independent non-executive directors, with responsibilities including reviewing financial statements and monitoring internal control procedures[81] - The interim financial statements have not been audited by the company's auditor but have been reviewed by the audit committee[82]

Financial Performance - For the three months ended March 31, 2022, the total revenue of Worldgate Global Logistics Ltd was approximately RM 38.6 million, an increase of about 120% compared to RM 17.8 million in the same period of 2021[3] - The gross profit for the same period was approximately RM 4.4 million, also reflecting a 120% increase from RM 1.9 million in the previous year[3] - The company recorded a net loss of approximately RM 0.2 million for the three months ended March 31, 2022, a significant improvement compared to a net loss of RM 1.9 million in the same period of 2021[3] - The basic and diluted loss per share for the period was RM 0.05 cents, compared to RM 1.71 cents in the previous year[5] - The company reported other income of RM 0.585 million for the three months ended March 31, 2022, compared to RM 0.231 million in the same period of 2021[4] - Administrative expenses increased to RM 4.48 million from RM 3.90 million year-on-year[4] - The financing costs decreased to RM 0.216 million from RM 0.271 million in the previous year[4] Revenue Segments - The revenue from the freight forwarding and related services segment was 24,051 thousand MYR, up 67% from 14,393 thousand MYR year-on-year[11] - The revenue from the manufacturing and trading of plastic products segment reached 8,424 thousand MYR, increasing from 3,374 thousand MYR, representing a growth of 149%[10] - Revenue from air freight agency services accounted for approximately 49.0% of total logistics revenue in Q1 2022, up from 19.3% in Q1 2021[35] - Total revenue from integrated logistics services increased by 67.1% to approximately 24.1 million MYR for the three months ended March 31, 2022, compared to 14.4 million MYR in the same period of 2021[35] - The company recorded revenue of approximately MYR 6.1 million from the sale of second-hand mobile phones, accounting for about 15.9% of total revenue[33] Dividends and Shareholder Information - The board of directors did not recommend the payment of an interim dividend for the three months ended March 31, 2022[3] - The company did not declare an interim dividend for the first quarter of 2022, consistent with the previous year[16] - As of March 31, 2022, Win All Management Limited and Mr. Wu Henghui hold a total of 188,360,000 shares, representing 29.73% of the company's shares[53] Business Strategy and Expansion - The company has a focus on providing international freight forwarding and logistics services, primarily targeting Malaysia and Hong Kong markets[8] - The company plans to expand its logistics business in Malaysia and Hong Kong to attract more international clients, aiming to enhance its revenue base[34] - The company intends to diversify its business by manufacturing and trading plastic products and second-hand mobile phones, which are expected to generate synergies[34] - The company is in discussions to establish a joint venture with Suiyong International Limited to invest in green energy and environmental projects[51] Capital and Financing Activities - The company plans to use the net proceeds of approximately 1,900,000 HKD from the placement for general working capital[22] - The company completed a share consolidation, changing its authorized share capital to HKD 100,000,000, divided into 1,000,000,000 shares with a par value of HKD 0.1 each[23] - The acquisition of 51% of Zhongying Limited was completed for HKD 6,600,000, paid in shares at an issue price of HKD 0.33 per share, resulting in the issuance of 20,000,000 shares[23] - The company raised approximately HKD 51,942,000 through a rights issue, with valid applications received for 175,503,151 shares at a subscription price of HKD 0.11 per share[24] - The company plans to use the net proceeds of approximately HKD 3,800,000 from a placement for general working capital[24] Compliance and Governance - The company has complied with all applicable provisions of the Corporate Governance Code during the three months ending March 31, 2022[59] - The financial statements for the first quarter have not been audited but have been reviewed by the audit committee[61] Other Financial Metrics - The company reported a pre-tax profit of 815 thousand MYR for the first quarter of 2022, compared to a loss of 1,430 thousand MYR in the same period of 2021[11] - The loss attributable to the owners of the company for the first quarter was 333 thousand MYR, a decrease from a loss of 1,982 thousand MYR in the previous year[21] - The total assets depreciation for the first quarter was 787 thousand MYR, down from 1,001 thousand MYR in the same period of 2021[11] - The company’s interest income for the first quarter was 43 thousand MYR, slightly up from 41 thousand MYR year-on-year[11] - The financing costs for the three months ended March 31, 2022, were approximately 216,000 MYR, down from 271,000 MYR in the same period of 2021[45] Stock Options and Securities - The company has a stock option plan that allows for the issuance of 800,000 shares, which is 0.13% of the issued shares, but no options have been granted, exercised, or canceled since the plan's inception[55] - No purchases, sales, or redemptions of the company's securities occurred during the three months ending March 31, 2022[56]

Financial Performance - Air freight revenue for the fiscal year was approximately RM 17.9 million, an increase of about 3.9% compared to RM 17.3 million in the previous year[10]. - Sea freight services generated the largest revenue source at approximately RM 30.5 million, representing a 15.1% increase from RM 26.5 million in the previous year[12]. - Revenue from freight and related services was approximately RM 18.8 million, down from RM 24.8 million in the previous year[13]. - The logistics services segment generated total revenue of approximately 68.0 million MYR for the fiscal year, a decrease of about 1.5% compared to 69.0 million MYR in the previous year[22]. - Revenue from Hong Kong logistics services was approximately 18.0 million MYR, down 24.2% from 23.8 million MYR in the previous year, accounting for about 20.3% of total revenue[16]. - The company recorded revenue of approximately 20.9 million MYR from the manufacturing and trading of plastic products, with a gross profit of about 2.3 million MYR and a gross profit margin of 11.2%[26]. - The gross profit from integrated logistics services decreased to 8.0 million MYR, a decline of about 9.0% from 8.8 million MYR in the previous year[25]. - The gross profit margin for integrated logistics services fell from 12.7% to 11.8% due to the combined effects of revenue and cost changes[25]. - The group recorded a loss of approximately RM 11.6 million for the fiscal year, compared to a loss of RM 1.6 million in the previous year, resulting in a loss per share of 4.12 sen[31]. - Administrative expenses for the fiscal year amounted to RM 17.7 million, compared to RM 14.7 million in the previous year[27]. - Financing costs for the fiscal year were approximately RM 0.9 million, up from RM 0.8 million in the previous year[29]. Logistics and Business Strategy - The company focuses on enhancing its market position by exploring business opportunities in logistics services, particularly in cross-border e-commerce between China and the global market[7]. - The logistics services provided include air and sea freight agency services, warehousing, and supply chain management[6]. - The company aims to offer cost-effective and comprehensive services to meet customer needs despite intense competition in the logistics industry[7]. - The company plans to expand its logistics business in Hong Kong, aiming to leverage its advantages over China and explore new business opportunities with international clients[21]. - The company has reallocated approximately 15.7 million HKD originally intended for expansion in Malaysia to establish logistics operations in Hong Kong, which is expected to positively impact future business growth[16]. - The company has established an operational team in Hong Kong and purchased order management and fulfillment systems to support e-commerce activities[60]. - The company has established a business development unit to analyze market trends and enhance competitiveness through big data analysis[188]. Corporate Governance - The company is committed to ensuring the accuracy and completeness of the information provided in its reports, as confirmed by the board of directors[2]. - The board of directors held eleven meetings during the fiscal year to discuss and approve various financial results and strategic directions[86]. - The board is responsible for overseeing the group's business affairs and overall performance management[75]. - The company has appointed three independent non-executive directors, constituting over one-third of the board, ensuring independent judgment[81]. - The board has established a set of trading rules for directors regarding the company's securities transactions[74]. - The company has implemented a risk management and internal control system, which was reviewed during board meetings[86]. - The board is tasked with approving significant contracts, acquisitions, investments, and capital expenditures[76]. - Continuous professional development is encouraged for all directors, with training costs covered by the company[85]. - The company has made insurance arrangements to provide adequate protection for directors facing legal liabilities[82]. - The board's composition includes a balanced mix of executive and non-executive directors to ensure effective decision-making[79]. - The board of directors has adopted a diversity policy to ensure a range of skills, experiences, and perspectives are represented, focusing on gender, age, cultural background, and professional experience[90]. - The audit committee held 5 meetings during the fiscal year to review the group's consolidated performance for various periods, including the year ending December 31, 2020[100]. - The audit committee is composed entirely of independent non-executive directors, ensuring objectivity in oversight[94]. - The company emphasizes the importance of independent auditors and has revised its governance code to extend the cooling-off period for former partners to two years[96]. - The company ensures that the internal audit function has sufficient resources and appropriate status within the organization[102]. - The audit committee ensures timely responses from the board regarding matters raised by external auditors[102]. - The company is committed to maintaining a balanced skill set and diverse perspectives on the board to meet business needs[110]. - The board of directors has reviewed and fulfilled its corporate governance responsibilities during the fiscal year[114]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to strict environmental standards and enhancing employee awareness of safety and health[144]. - The report adheres to the principles of importance, quantifiability, consistency, and balance as outlined in the ESG reporting guidelines[146]. - The company aims to continuously improve its services and processes to minimize environmental impact[144]. - The company encourages stakeholder feedback on its ESG policies and performance[149]. - The company promotes "green logistics" initiatives, including the use of low-emission vehicles and recyclable packaging materials[155]. - The environmental, social, and governance (ESG) working group reports biannually to the board on the company's ESG performance and systems effectiveness[154]. - The company adheres to the Malaysian Environmental Quality Act and related regulations to minimize operational environmental impacts[158]. - Total greenhouse gas emissions decreased from 1,576.46 kg in 2020 to 1,295.61 kg in 2021, representing a reduction of approximately 17.8%[159]. - Nitrogen oxide emissions reduced significantly from 6,043.24 kg in 2020 to 4,470.55 kg in 2021, a decrease of about 26%[159]. - The company reported a total of 331 tons of non-hazardous waste in 2021, up from 27 tons in 2020, indicating a significant increase in waste management efforts[159]. - Electricity consumption increased from 331,720 kWh in 2020 to 1,298,491 kWh in 2021, reflecting a rise of approximately 290%[162]. - Water usage decreased from 7,455 cubic meters in 2020 to 6,151 cubic meters in 2021, a reduction of about 17.4%[162]. - The company continues to implement policies aimed at reducing resource consumption, including the use of high-performance equipment and streamlined operations[160]. - The company has not reported any incidents related to health and safety, advertising, labeling, or privacy issues that significantly impact its operations this year[195]. Employee and Community Engagement - The group employed a total of 381 full-time employees as of December 31, 2021, an increase from 198 in 2020[53]. - Total employee compensation for the fiscal year reached 12.3 million MYR, slightly down from 12.5 million MYR in 2020[53]. - The total number of employees as of December 31, 2021, is 381, with 51.7% under 30 years old and 56.7% female[171]. - Employee turnover rate for 2021 is 8.6%, with the highest rate of 9.8% in the 31-40 age group[172]. - The company has implemented a SHES policy to ensure a safe and healthy work environment, focusing on safety, health, and environmental standards[173]. - The company collaborates with local universities to provide training and development opportunities for interns, offering daily allowances and potential full-time positions[170]. - The company is committed to gender equality and aims to balance the gender ratio at all levels of employment[184]. - The company has established an employee retention plan tailored to attract and retain talent, with performance reviews linked to key performance indicators[167]. - A total of 2,496 hours of training were completed by employees in 2021, with an average training time of 10.66 hours for general staff and 13.17 hours for senior management[181][182]. - Female employees accounted for 33% of new hires in 2021, surpassing the initial target of 30%[184]. - The company reported zero work-related fatalities and zero work injuries for the year 2021, maintaining a 0% incident rate[178]. - All employees received training in safety awareness, with 100% participation across all employee categories[182]. Risk Management - The group faces various risks including operational, market, liquidity, credit, and regulatory risks, with established risk management policies in place[41]. - The group relies heavily on information technology for its logistics services, with potential risks associated with system failures impacting operations and reputation[49]. - The company has implemented a comprehensive quality assurance policy to diversify its products and services[187]. - The management team has received training in risk management and ISO 9001 quality management systems[193]. - The company has not encountered any violations of the Anti-Corruption Act or related laws during the year[197]. - The company is dedicated to maintaining a corporate culture of integrity to uphold its corporate image[196].

Financial Performance - For the nine months ended September 30, 2021, the total revenue was approximately RM 61.6 million, an increase of about 12.2% compared to RM 54.9 million for the same period in 2020[3]. - The gross profit for the nine months ended September 30, 2021, was approximately RM 7.7 million, a decrease of about 9.1% from RM 8.5 million in the same period of 2020[3]. - The company recorded a net loss of approximately RM 5.0 million for the nine months ended September 30, 2021, compared to a net loss of RM 3.9 million for the same period in 2020[3]. - For the three months ended September 30, 2021, the revenue was RM 22.8 million, compared to RM 21.0 million for the same period in 2020, reflecting an increase of approximately 8.5%[4]. - The gross profit for the three months ended September 30, 2021, was RM 3.2 million, slightly up from RM 3.1 million in the same period of 2020[4]. - The total comprehensive loss for the nine months ended September 30, 2021, was RM 3.9 million, compared to RM 3.2 million for the same period in 2020[5]. - The company reported a basic and diluted loss per share of 3.7 sen for the nine months ended September 30, 2021, compared to 4.7 sen for the same period in 2020[5]. - The group reported an adjusted loss before tax of (2,360) thousand MYR for the nine months ended September 30, 2021, compared to a profit of 1,954 thousand MYR in 2020[11]. - The group recorded a loss of approximately 5.0 million MYR for the nine months ended September 30, 2021, compared to a loss of 3.9 million MYR for the same period in 2020[42]. Revenue Breakdown - The revenue from freight forwarding and related services for the nine months ended September 30, 2021, was 48,431 thousand MYR, down 12% from 54,917 thousand MYR in 2020[9]. - The manufacturing and trading of plastic products generated revenue of 13,165 thousand MYR for the nine months ended September 30, 2021, compared to no revenue in the same period of 2020[9]. - Revenue from air freight services accounted for approximately 18.9% and sea freight services accounted for 37.0% of total revenue for the nine months ended September 30, 2021[36]. - The revenue from non-air and non-sea freight services was approximately 14.0 million MYR for the nine months ended September 30, 2021, compared to 19.5 million MYR for the same period in 2020[29]. - The revenue from air freight forwarding services for the three months ended September 30, 2021, was 6,332 thousand MYR, an increase of 11% from 5,718 thousand MYR in 2020[15]. - The revenue from sea freight forwarding services for the three months ended September 30, 2021, was 9,045 thousand MYR, an increase of 24% from 7,288 thousand MYR in 2020[15]. - Air freight service revenue for the nine months ended September 30, 2021, was approximately 11.6 million MYR, down from 14.6 million MYR in 2020[27]. - Sea freight service revenue for the nine months ended September 30, 2021, was approximately 22.8 million MYR, an increase from 20.8 million MYR in 2020[28]. Dividends and Share Capital - The board of directors did not recommend the payment of an interim dividend for the nine months ended September 30, 2021[3]. - The group did not declare an interim dividend for the nine months ended September 30, 2021, consistent with the previous year[17]. - The company completed the acquisition of 51% of the issued share capital of Zhongying Limited for 6.6 million HKD, settled by issuing 20,000,000 shares at an issue price of 0.33 HKD per share[22]. - The company plans to increase its authorized share capital from 10 million HKD to 100 million HKD, allowing for the issuance of an additional 900 million shares[25]. - The company raised approximately 1.9 million HKD from a placement of up to 12 million shares at a price of 0.17 HKD per share, completed on March 16, 2021[25]. - The company also raised approximately 3.82 million HKD from a placement of up to 26.4 million shares at a price of 0.15 HKD per share, completed on June 22, 2021[25]. - The weighted average number of ordinary shares for the nine months ended September 30, 2021, was 136,536,264 shares, compared to 82,160,583 shares for the same period in 2020[24]. - The company has a total of 8,000,000 shares (5.1% of issued shares) available for issuance under the share option scheme as of September 30, 2021[50]. Expenses and Costs - The company incurred administrative expenses of RM 3.9 million for the three months ended September 30, 2021, compared to RM 4.1 million in the same period of 2020[4]. - The depreciation expense for property, plant, and equipment for the nine months ended September 30, 2021, was 2,986 thousand MYR, compared to 3,390 thousand MYR in 2020[11]. - The group incurred total financing costs of (580) thousand MYR for the nine months ended September 30, 2021, down from (708) thousand MYR in 2020[11]. - The service costs increased by approximately 16.0% or 7.5 million MYR, primarily due to the new manufacturing and trading of plastic products business, which contributed costs of about 11.2 million MYR[38]. Strategic Plans and Market Position - The company aims to strengthen its market position in logistics services in Hong Kong while closely monitoring market conditions for necessary strategic adjustments[26]. - The group plans to expand its logistics business in Hong Kong to attract more Chinese and international customers, aiming to broaden its revenue base[35]. - The group intends to further expand its operations in Malaysia and China to cover cross-border freight, towing, and railway freight services[35]. Corporate Governance - The board confirmed compliance with the corporate governance code during the nine months ended September 30, 2021[54]. - The audit committee, consisting of independent non-executive directors, was established to oversee financial reporting and internal controls[55]. - No competitive interests were reported by major shareholders or their associates during the nine months ended September 30, 2021[52]. - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended September 30, 2021[51]. - The board confirmed that all directors complied with the trading standards and the company's code of conduct regarding securities transactions during the nine months ended September 30, 2021[53]. - The company maintains its unutilized balance of raised funds as bank deposits in reputable banks[45].