Financial Performance - For the three months ended March 31, 2019, the group's revenue was approximately SGD 7,548,000, an increase of about SGD 363,000 or 5.0% compared to the same period in 2018[4] - The loss attributable to owners for the three months ended March 31, 2019, was approximately SGD 367,000, a decrease of about SGD 209,000 primarily due to a) reduced gross margin and b) increased employee costs from annual salary increases[4] - The gross profit for the three months ended March 31, 2019, was SGD 890,145, down from SGD 953,142 in the same period of 2018[5] - The total comprehensive loss for the period was SGD 367,205, compared to a loss of SGD 157,785 for the same period in 2018[5] - Other income for the three months ended March 31, 2019, was SGD 56,790, down from SGD 108,192 in the same period of 2018[18] - Overall gross profit margin decreased from 13.3% in 2018 to 11.8% in 2019[32] - The company recorded a loss of approximately SGD 367,000 for the three months ended March 31, 2019, an increase in loss of about SGD 209,000 compared to the same period in 2018[39] Revenue Breakdown - Revenue from truck transportation services was SGD 6,490,213, up from SGD 5,723,177 in the previous year, while revenue from consolidation services decreased to SGD 1,057,757 from SGD 1,462,073[15] - Revenue from truck transportation services increased by approximately SGD 767,000 or 13.4% due to higher demand from a major customer and new customer transactions[31] Expenses - The total administrative expenses for the three months ended March 31, 2019, were SGD 1,278,633, compared to SGD 1,166,220 in the same period of 2018[5] - Administrative expenses increased by approximately SGD 113,000 or 9.6% to about SGD 1,279,000, primarily due to higher employee costs[37] - The financing costs for the three months ended March 31, 2019, were SGD 30,308, down from SGD 38,822 in the previous year[5] - Tax expenses decreased from approximately SGD 14,000 to about SGD 5,000 due to a reduction in taxable income[38] - Interest on bank and other loans for the three months ended March 31, 2019, was SGD 2,762, a significant decrease from SGD 8,438 in 2018[21] - Depreciation of property, plant, and equipment was SGD 553,239 for the three months ended March 31, 2019, compared to SGD 549,163 in 2018[22] Employee Costs - As of March 31, 2019, the total employee cost for the three months was approximately SGD 2,774,000, compared to SGD 2,663,000 for the same period in 2018, reflecting a year-over-year increase of about 4.2%[44] - As of March 31, 2019, the group had a total of 176 employees[44] Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, with an exception regarding the roles of Chairman and CEO being held by the same individual[61] - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and policies adopted by the group and found the financial performance to comply with applicable accounting standards and GEM Listing Rules[65] Dividends - The company did not recommend any dividend for the three months ended March 31, 2019[4] - The board has decided not to declare any dividends for the three months ended March 31, 2019, considering the overall operating performance, financial condition, and funding needs of the group[62] Market Conditions and Future Plans - The group faced increasing challenges due to global trade uncertainties affecting Singapore's economy and market conditions in the first three months of 2019[43] - The group aims to maintain industry growth and enhance overall competitiveness while expanding its market share in Singapore[43] - The group plans to increase service capacity by purchasing new vehicles and expanding its workforce to meet business growth needs[43] Shareholding and Acquisitions - Ventris Global Limited holds 325,000,000 shares, representing 50.78% of the company, with Mr. Cai Jianglin being the beneficial owner[47] - The group did not have any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[55] - There were no purchases, sales, or redemptions of the company's listed securities during the period[57] - No significant events occurred after March 31, 2019, that could materially impact the group's operations and financial performance[59]

Financial Performance - The group's revenue for the year ended December 31, 2018, decreased by approximately SGD 1,422,000 or about 4.6% to approximately SGD 29,400,000 compared to the previous year[10]. - Gross profit decreased from approximately SGD 6,835,000 in the previous year to approximately SGD 4,540,000, with a gross margin decline from 22.2% to 15.4%[10]. - The group recorded a profit of approximately SGD 467,000 for the year ended December 31, 2018, compared to a loss of approximately SGD 406,000 in the previous year[11]. - Administrative expenses were higher, exacerbating the impact of declining revenue and gross profit, leading to a decrease of approximately SGD 2,235,000 in profit compared to the adjusted profit from the previous year[11]. - Truck transportation service revenue fell by approximately SGD 1,935,000 to SGD 23,685,000, a decline of 7.6%, primarily due to global trade economic uncertainties[17]. - Consolidated service revenue increased by 9.9% or approximately SGD 513,000, driven by customer demand for container storage during delays[19]. - The gross profit margin for truck transportation services decreased from 16.6% to 6.9%, mainly due to rising fuel costs and reduced revenue[21]. - The gross profit margin for consolidated services increased from 49.6% to 51.0%, attributed to revenue growth in this segment[22]. - Other income rose from approximately SGD 284,000 to approximately SGD 411,000, mainly due to foreign exchange gains from cash held in Hong Kong[24]. - The total employee cost for the year ended December 31, 2018, was approximately SGD 9,721,000, an increase of 5% from SGD 9,254,000 in 2017[40]. - The company recorded a cumulative loss as of December 31, 2018, resulting in no available reserves for cash distribution[183]. Operational Challenges - The decrease in gross margin was attributed to rising fuel costs and a decline in revenue, with over one-third of sales costs being fixed costs[10]. - The overall operating environment was challenging due to uncertainties in the global trade economy affecting the logistics sector in Singapore[9]. - The company plans to maintain growth in the industry and expand its market share in Singapore, while being cautious about expansion plans due to global trade uncertainties[48]. Corporate Governance - The company emphasizes good corporate governance as crucial for efficient business management and maximizing shareholder returns, adhering to the GEM listing rules[67]. - The company has adopted the trading standards for directors as per GEM listing rules, confirming compliance for the year ending December 31, 2018[69]. - The company has a strong focus on compliance and corporate governance policies, regularly reviewing and monitoring applicable codes of conduct and governance practices[70]. - The board includes independent directors with extensive experience in auditing and finance, ensuring diverse oversight and governance[58][60]. - The company has established a nomination committee to review the composition of the board and assess the independence of non-executive directors[82]. - The board has set up specific written terms of reference for each committee to clearly define their authority and duties[73]. - The company has maintained high standards of corporate governance, including regular reviews of governance policies and compliance with legal requirements[78]. - The company emphasizes the importance of board diversity for enhancing governance and performance, considering factors such as gender, age, culture, and professional experience[85]. Employee Management - The company has not encountered any significant labor disputes or difficulties in recruiting and retaining experienced employees[40]. - The company employed 175 staff members, including 136 qualified drivers, with 32 new hires and 39 departures during the fiscal year ending in 2018[128]. - The company emphasizes employee welfare and invests in technology to improve operational efficiency, aiming to create a vibrant workforce[125]. - The company has established a policy for employee development and training, ensuring compliance with labor standards[173]. - The company provides comprehensive benefits and compensation packages for full-time employees, including medical, dental, and maternity leave[140]. Environmental Sustainability - The total greenhouse gas emissions amounted to 9,508 tons of CO2 equivalent in the fiscal year 2018[159]. - Direct greenhouse gas emissions (Scope 1) were 9,467 tons of CO2 equivalent, primarily from gasoline usage[159]. - Indirect greenhouse gas emissions (Scope 2) were 21 tons of CO2 equivalent, mainly from purchased electricity[159]. - The company has implemented measures to reduce greenhouse gas emissions, including digital office practices and vehicle maintenance[158]. - The company aims to establish an electronic automated office to minimize paper usage and enhance operational efficiency[162]. - The company has adhered to environmental, social, and governance reporting guidelines, ensuring compliance in various key performance indicators[173]. - The company has implemented measures to reduce emissions and manage waste effectively, demonstrating commitment to environmental sustainability[170]. Stakeholder Engagement - The company has established a stakeholder engagement strategy, focusing on communication with employees, investors, customers, suppliers, government agencies, and the community[123]. - The company maintains effective communication with investors to enhance transparency and ensure timely access to information regarding the group[114]. - The company encourages shareholders to submit proposals for special meetings if they hold at least 10% of the paid-up capital[108]. Financial Management - The company considers declaring dividends only when there are profits and it does not affect normal operations, taking into account various factors including operational performance and cash flow[101]. - The company did not recommend any dividends for the fiscal year ending December 31, 2018, due to overall operating performance and financial condition considerations[178]. - The company has not engaged in any purchases, redemptions, or sales of its listed securities during the fiscal year[180]. - The net proceeds from the share issuance as of December 31, 2018, amounted to approximately HKD 40.4 million (equivalent to about SGD 6.9 million)[187].