Financial Performance - For the three months ended March 31, 2019, the total revenue of the group was approximately MYR 17.1 million, an increase of about 1.6% compared to the same period in 2018[5] - The gross profit for the same period was approximately MYR 2.6 million, representing an increase of approximately 32.0% year-on-year[5] - The group recorded a net loss of approximately MYR 2.1 million for the three months ended March 31, 2019[5] - The basic and diluted loss per share for the period was 0.26 cents, compared to 0.25 cents for the same period in 2018[6] - The group’s total comprehensive loss for the period amounted to approximately MYR 2.4 million, compared to a total comprehensive loss of MYR 2.9 million in the previous year[6] - The company reported a total adjusted loss before tax of (1,963) thousand MYR for the three months ended March 31, 2019, compared to (1,728) thousand MYR in the same period of 2018[20] - The company reported a basic and diluted loss attributable to owners of the company of 2,095,000 MYR for the three months ended March 31, 2019, compared to a loss of 2,000,000 MYR for the same period in 2018[35] - The group recorded a loss of approximately RM 2.1 million for the three months ended March 31, 2019, compared to RM 2.0 million in 2018[56] Revenue Breakdown - Revenue from freight forwarding and related services was 14,519 thousand MYR, down from 16,859 thousand MYR in the previous year, a decrease of 13.93%[19] - Total revenue from integrated logistics services for the three months ended March 31, 2019, was approximately 14.5 million MYR, a decrease of about 13.9% or 2.3 million MYR compared to 16.9 million MYR in the same period of 2018[49] - Revenue from air freight services for the three months ended March 31, 2019, was approximately 5.4 million MYR, down from 8.9 million MYR in the same period of 2018[38] - Revenue from sea freight services for the three months ended March 31, 2019, was approximately 8.6 million MYR, an increase from 7.3 million MYR in the same period of 2018[41] - Revenue from the sale of second-hand mobile phones was 2,606 thousand MYR, which was not reported in the previous year, indicating a new revenue stream[27] Expenses and Costs - Administrative expenses increased to MYR 4.4 million from MYR 3.6 million in the previous year, reflecting a rise of approximately 19.6%[6] - The company’s employee costs, including directors' remuneration, amounted to 3,798 thousand MYR, an increase from 3,658 thousand MYR in the prior year[28] - Sales cost decreased by approximately 19.0% from RM 14.9 million for the three months ended March 31, 2018, to RM 12.1 million for the three months ended March 31, 2019[50] - Financing costs were approximately RM 267,000 and RM 275,000 for the three months ended March 31, 2019, and 2018, respectively[55] Dividends - The board of directors did not recommend the payment of an interim dividend for the three months ended March 31, 2019[5] - The company did not recommend the payment of an interim dividend for the three months ended March 31, 2019, consistent with the previous year[30] - No interim dividend was recommended for the three months ended March 31, 2019[57] Corporate Governance - The company adheres to good corporate governance principles based on the GEM Listing Rules and has complied with the corporate governance code provisions during the three months ending March 31, 2019[71] - The audit committee, consisting of independent non-executive directors, was established to review financial statements and monitor internal control procedures[73] - The first quarter financial statements were reviewed by the audit committee but not audited by the company's external auditor[74] Business Operations - The company continues to engage in providing comprehensive international freight services, transportation services, and warehousing services to global customers[10] - The company operates two reportable segments, with distinct strategies and performance metrics for each segment, allowing for targeted resource allocation[17] - The company aims to strengthen its position as a comprehensive logistics solution provider in Malaysia, with plans to expand its services to include cross-border freight and rail freight[47] - The company has attracted a new client, a leading multinational engineering and electronics company based in Germany, which is expected to generate recurring business and positively impact revenue[47] - The company’s warehousing services accounted for less than 1% of total revenue for the three months ended March 31, 2019, down from 2% in the same period of 2018[44] Shareholder Information - Major shareholders include JL Investments Capital Limited with a 29.00% stake and Liu Zhi Yuan with a 29.00% stake as well[62] - The company has a stock option plan effective for ten years, allowing the issuance of 80,000,000 shares, representing 10% of the issued shares as of March 31, 2019[67] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the three months ending March 31, 2019[68] - The controlling shareholders and their close associates do not hold any interests in businesses that directly or indirectly compete with the company's operations as of March 31, 2019[69] - All directors confirmed compliance with the trading standards and the company's code of conduct regarding securities transactions during the three months ending March 31, 2019[70]
盛良物流(08292) - 2019 Q1 - 季度财报