Financial Performance - For the three months ended March 31, 2020, the total revenue was approximately MYR 15.9 million, a decrease of about 7.1% compared to MYR 17.1 million in the same period of 2019[4] - The gross profit for the same period was approximately MYR 2.3 million, down approximately 9.6% from MYR 2.6 million in 2019[4] - The company recorded a net loss of approximately MYR 1.2 million for the three months ended March 31, 2020, compared to a net loss of MYR 2.1 million in the same period of 2019[4] - The total comprehensive loss attributable to owners of the company for the period was MYR 705,000, compared to MYR 2.4 million in the same period of 2019[5] - The basic and diluted loss per share was 0.15 cents, compared to 0.26 cents in the previous year[5] - The group reported a pre-tax loss of RM 1,208,000 for the three months ended March 31, 2020, compared to a loss of RM 2,095,000 in the same period of 2019, showing a reduction in losses[21] Revenue Breakdown - For the three months ended March 31, 2020, external customer revenue from freight forwarding and related services was RM 15,916,000, an increase of 9.6% from RM 14,519,000 in the same period of 2019[12] - Revenue from the sale of second-hand mobile phones was RM 0, down from RM 2,606,000 in the same period of 2019, reflecting a complete cessation of this segment's operations[12] - Revenue from Malaysia was RM 11,797,000, down from RM 14,519,000, while revenue from China, including Hong Kong, increased to RM 4,119,000 from RM 2,606,000[14] - Air freight service revenue for the three months ended March 31, 2020, was approximately MYR 4.5 million, down from MYR 5.4 million in the same period of 2019, representing a decrease of about 16.7%[23] - Sea freight service revenue for the three months ended March 31, 2020, was approximately MYR 6.9 million, a decline of about 19.8% from MYR 8.6 million in the same period of 2019[25] - Total revenue from integrated logistics services for the three months ended March 31, 2020, was approximately MYR 15.9 million, a decrease of about 9.6% compared to MYR 14.5 million in the same period of 2019[30] Cost Management - Administrative expenses decreased to MYR 3.3 million from MYR 4.4 million in the previous year, reflecting a reduction of approximately 23%[5] - The group incurred employee costs of RM 3,316,000, down from RM 3,798,000 in the previous year, indicating cost management efforts[16] - The financing costs decreased to MYR 198,000 from MYR 267,000, a reduction of approximately 26%[5] Dividend and Shareholder Information - The board of directors did not recommend the payment of an interim dividend for the three months ended March 31, 2020[4] - The group did not declare an interim dividend for the three months ended March 31, 2020, consistent with the previous year[17] - As of March 31, 2020, the company has a total of 80,000,000 shares (10% of issued shares) available for issuance under the share option scheme[44] - Major shareholders include JL Investments Capital Limited and Liu Zhi Yuan, each holding 232,000,000 shares (29.00%)[40] - Cai Ming Xi holds 137,000,000 shares (17.13%) through World Oasis Limited[40] Corporate Governance - The company has adhered to the corporate governance code, with plans to appoint a suitable individual for daily business management[48] - The company established an audit committee on June 17, 2016, in accordance with GEM Listing Rule 5.28 and Appendix 15 of the GEM Listing Rules[49] - The audit committee consists of all independent non-executive directors: Mr. Wong Siu Keung, Ms. Wong Hoi Yan, and Mr. Ma Kin Hung, with Mr. Wong Siu Keung serving as the chairman[49] - The primary responsibilities of the audit committee include advising the board on the appointment and removal of external auditors, reviewing financial statements and information, providing opinions on financial reports, and monitoring the company's internal control procedures[49] - The first quarter financial statements have not been audited by the company's auditors but have been reviewed by the audit committee[50] Strategic Focus - The company continues to focus on providing comprehensive international freight services, transportation services, and warehousing services to global customers[7] - The company aims to expand its logistics services in Malaysia and China, targeting cross-border freight and rail freight services to enhance its revenue base[29] - A new client, a leading multinational engineering and electronics company based in Germany, is expected to bring recurring business and positively impact revenue[29] - The group closely monitors market conditions and adjusts strategies and operations as necessary to maintain its market position in the competitive logistics sector[22] Operational Metrics - The volume of air freight exports increased significantly to 1,457,000 kg in 2020 from 639,000 kg in 2019, representing a growth of approximately 128.5%[24] - The volume of sea freight exports decreased to 2,119 standard containers in 2020 from 2,555 in 2019, a decline of about 17.1%[25]
盛良物流(08292) - 2020 Q1 - 季度财报