Financial Performance - For the six months ended June 30, 2020, the total revenue was approximately MYR 33.9 million, an increase of about 6.5% compared to the same period in 2019[5] - The gross profit for the same period was approximately MYR 5.4 million, reflecting a growth of approximately 17.3% year-on-year[5] - The company recorded a net loss of approximately MYR 2.5 million for the six months ended June 30, 2020[5] - The basic and diluted loss per share for the six months was 0.32 sen, compared to 0.49 sen for the same period in 2019[6] - The company reported a comprehensive loss of approximately MYR 1.96 million for the six months ended June 30, 2020[9] - Loss before tax for the six months ended June 30, 2020, was 2,536 thousand MYR, a decrease of 36% compared to 3,959 thousand MYR for the same period in 2019[25] - The group recorded a loss of approximately 2.5 million MYR for the six months ended June 30, 2020, compared to a loss of 4.0 million MYR in 2019[47] Revenue Breakdown - Revenue from freight forwarding and related services for the six months ended June 30, 2020, was 33,914 thousand MYR, representing a 22.3% increase from 27,744 thousand MYR in 2019[14] - The revenue from the sale of second-hand mobile phones was zero for the six months ended June 30, 2020, compared to 4,095 thousand MYR in 2019[14] - Revenue for the three months ended June 30, 2020, was 17,998 thousand MYR, an increase of 8.7% compared to 14,714 thousand MYR for the same period in 2019[19] - Revenue for the six months ended June 30, 2020, was 33,914 thousand MYR, representing a 6.5% increase from 31,839 thousand MYR in the same period of 2019[19] - Air freight service revenue for the six months ended June 30, 2020, was approximately 8.8 million MYR, down from 9.6 million MYR in 2019[33] - Sea freight service revenue for the six months ended June 30, 2020, was approximately 13.5 million MYR, a decrease from 17.2 million MYR in 2019[35] - Revenue from non-air and non-sea freight services was approximately 11.5 million MYR for the six months ended June 30, 2020, compared to 0.6 million MYR in 2019, showing significant growth[36] Assets and Liabilities - Non-current assets decreased from MYR 25.9 million as of December 31, 2019, to MYR 23.7 million as of June 30, 2020[7] - Current assets increased slightly from MYR 37.1 million as of December 31, 2019, to MYR 37.5 million as of June 30, 2020[7] - Total liabilities increased from MYR 22.1 million as of December 31, 2019, to MYR 22.3 million as of June 30, 2020[8] - The company's total equity decreased from MYR 40.9 million as of December 31, 2019, to MYR 39.0 million as of June 30, 2020[8] - Total trade receivables as of June 30, 2020, amounted to 19,094 thousand MYR, an increase from 14,235 thousand MYR as of December 31, 2019[28] - Total trade and other payables as of June 30, 2020, were 5,751 thousand MYR, compared to 4,238 thousand MYR as of December 31, 2019[30] Cash Flow - For the six months ended June 30, 2020, the net cash used in operating activities was (5,510) thousand MYR, a significant decrease from 1,607 thousand MYR in the same period of 2019[10] - The total cash and cash equivalents at the end of the period decreased to 15,578 thousand MYR from 24,174 thousand MYR at the end of June 2019[10] - The cash flow from investing activities showed a net cash inflow of 197 thousand MYR, compared to a net cash outflow of (4) thousand MYR in the same period of 2019[10] - The company’s cash flow from financing activities resulted in a net cash outflow of (950) thousand MYR, an improvement from (1,991) thousand MYR in the previous year[10] Operational Efficiency - The company reported employee costs of 6,142 thousand MYR for the six months ended June 30, 2020, down from 7,653 thousand MYR in the same period of 2019[20] - The company incurred a depreciation expense of 1,431 thousand MYR for property, plant, and equipment for the six months ended June 30, 2020, compared to 1,092 thousand MYR in the same period of 2019[20] - Service costs increased by approximately 4.7% or 1.3 million MYR for the six months ended June 30, 2020, compared to the same period in 2019[43] - Administrative expenses were approximately 8.0 million MYR for the six months ended June 30, 2020, compared to 8.1 million MYR in 2019[45] Strategic Initiatives - The logistics business is expected to expand its revenue base and improve capital efficiency by attracting new clients, including a major multinational engineering and electronics company based in Germany[40] - The company plans to further expand its operations in Malaysia and China to cover cross-border freight, trucking, and rail freight services[40] - The company is actively seeking new business opportunities and has hired a new sales manager to expand its market presence in Malaysia[60] - The company has hired new IT personnel to manage the information technology department, indicating a focus on strengthening its tech capabilities[61] Corporate Governance - The company confirmed that there were no direct or indirect competitive interests held by controlling shareholders or their close associates in any business that competes or may compete with the company during the six months ended June 30, 2020[70] - All directors confirmed compliance with the trading standards and the company's code of conduct regarding securities trading during the six months ended June 30, 2020[71] - The company adhered to the corporate governance code, except for a deviation from provision A.2.1, and is in the process of hiring a suitable individual with in-depth knowledge of the business for daily management[72] - The audit committee, established on June 17, 2016, consists of all independent non-executive directors and is responsible for advising the board on the appointment of external auditors and reviewing financial statements[73] - The interim financial statements have not been audited by the company's auditors but have been reviewed by the audit committee[74]
盛良物流(08292) - 2020 - 中期财报