Revenue and Financial Performance - Air freight services generated approximately MYR 32.6 million in revenue, a decrease of about 41.2% compared to MYR 55.5 million in 2017[13]. - Sea freight services remained the largest revenue source with approximately MYR 34.4 million, down about 4.5% from MYR 36.0 million in 2017[15]. - Revenue from non-air and non-sea freight services was approximately MYR 3.8 million, down from MYR 4.2 million in 2017[17]. - The total revenue from integrated logistics services for the fiscal year ended December 31, 2018, was approximately 71.8 million MYR, a decrease of about 25.6% or 24.6 million MYR compared to 96.4 million MYR in the previous year[22]. - Revenue from air freight services accounted for approximately 43.9% of total revenue, while sea freight services contributed about 46.3% in the fiscal year 2018[22]. - The company recorded a loss of approximately 3.9 million MYR for the fiscal year, compared to a loss of 2.2 million MYR in the previous year, resulting in a loss per share of 0.4873 MYR[31]. - The gross profit decreased from 15.1 million MYR in the previous year to 12.2 million MYR, a decline of about 18.8%, primarily due to a 41.2% decrease in revenue from air freight services[25]. Operational Developments - The company is focused on enhancing its market position despite intense competition in the logistics sector[10]. - New business initiatives include engaging in the second-hand mobile phone trade in Hong Kong[9]. - The company plans to closely monitor market conditions and adjust strategies and operations as necessary[10]. - The logistics services provided include air and sea freight forwarding, warehousing, and supply chain management[10]. - The company plans to expand its operations in Malaysia and cover cross-border freight, towing, and rail freight services to enhance its logistics solutions[20]. - The company has hired new sales personnel to promote and expand its market presence in northern, southern, and central regions of Malaysia[55]. - The company is actively seeking suitable acquisition targets in Singapore to strategically grow its business[57]. Employee and Management Information - The total employee compensation, including director remuneration, reached 13.9 million MYR for the fiscal year, unchanged from 2017[53]. - The group employed a total of 195 full-time employees as of December 31, 2018, an increase from 176 in 2017[53]. - The management team includes experienced professionals with backgrounds in finance, marketing, and operations, contributing to the company's strategic direction[67]. - The management team is committed to professional development, with various training courses completed in logistics, safety, and financial management[75]. Corporate Governance - The company has established a strong governance structure with independent non-executive directors overseeing key committees, ensuring compliance and accountability[69]. - The board consists of seven members, including three independent non-executive directors, ensuring more than one-third of the board is independent[89]. - The company has adopted a set of trading rules for directors regarding securities transactions, confirming compliance throughout the fiscal year[82]. - The board is responsible for overseeing the group's business affairs and overall performance, setting the group's mission and standards[83]. - The company emphasizes the importance of good corporate governance to enhance shareholder value and accountability[81]. - The company has established a nomination policy and a dividend policy in response to the revised corporate governance code effective from January 1, 2019[81]. Risk Management and Compliance - The group faces various risks, including operational, market, liquidity, credit, and regulatory risks, and has implemented risk management policies[42]. - The company has established compliance and risk management policies to ensure adherence to legal and regulatory requirements[178]. - The board reviews the risk management and internal control systems at least annually, focusing on significant risks associated with the group's business strategy[135]. - The internal control system aims to manage risks rather than eliminate them, providing reasonable assurance against material misstatements or losses[140]. Shareholder Information - As of December 31, 2018, the controlling shareholder held 232,000,000 shares, representing 29.0% of the company's issued shares[37]. - The company has a total of approximately 40.4 million MYR available for distribution to shareholders as of December 31, 2018[167]. - The company did not recommend any final dividends for the fiscal year, consistent with the previous year[34]. - The company has confirmed compliance with non-competition agreements by major shareholders during the fiscal year[198]. Environmental and Social Responsibility - The group made charitable contributions totaling approximately 68,000 MYR during the fiscal year[168]. - The company has adopted policies to prevent pollution and protect natural resources while complying with environmental regulations[175].