Financial Performance - For the nine months ended September 30, 2020, the total revenue of Worldgate Global Logistics Ltd was approximately MYR 54.9 million, an increase of about 17.4% compared to the same period in 2019[5]. - The gross profit for the nine months ended September 30, 2020, was approximately MYR 8.5 million, reflecting a growth of about 10.8% year-on-year[5]. - The company recorded a net loss of approximately MYR 3.9 million for the nine months ended September 30, 2020[5]. - For the three months ended September 30, 2020, the revenue was MYR 21.0 million, compared to MYR 15.0 million for the same period in 2019, marking a significant increase[6]. - The gross profit for the third quarter of 2020 was MYR 3.1 million, slightly up from MYR 3.0 million in the third quarter of 2019[6]. - The total comprehensive loss attributable to owners of the company for the nine months ended September 30, 2020, was MYR 3.2 million[6]. - The company’s basic and diluted loss per share for the nine months ended September 30, 2020, was 0.47 sen[6]. - The total equity as of September 30, 2020, was MYR 44.0 million, down from MYR 45.6 million at the beginning of the year[7]. - The company reported a loss before tax of RM 3,546,000 for the nine months ended September 30, 2020, compared to a loss of RM 3,509,000 for the same period in 2019[19]. - For the nine months ended September 30, 2020, the company reported a loss attributable to shareholders of approximately 3,853,000 MYR compared to a loss of 3,798,000 MYR for the same period in 2019[23]. - The company recorded a loss of approximately 3.9 million MYR for the nine months ended September 30, 2020, compared to a loss of 3.8 million MYR for the same period in 2019[42]. Revenue Breakdown - For the nine months ended September 30, 2020, the revenue from freight forwarding and related services was RM 54,917,000, an increase of 28.6% compared to RM 42,699,000 for the same period in 2019[11]. - The revenue from air freight forwarding and related services for the nine months ended September 30, 2020, was RM 20,813,000, down 20.3% from RM 26,099,000 in the same period of 2019[18]. - Revenue from air freight services accounted for approximately 26.6% of total revenue, while sea freight services contributed about 37.9% for the nine months ended September 30, 2020[37]. - Sea freight revenue decreased to approximately 20.8 million MYR for the nine months ended September 30, 2020, down from 26.1 million MYR in 2019, with export sea freight volume dropping to 6,633 standard containers from 7,292[31]. - Revenue from non-air and non-sea freight services was approximately 19.5 million MYR for the nine months ended September 30, 2020, significantly up from 1.8 million MYR in 2019[33]. - The revenue from the sale of second-hand mobile phones was RM 4,095,000 for the nine months ended September 30, 2019, but no revenue was recorded for the same period in 2020[11]. Dividends and Share Issuance - The company did not recommend the payment of an interim dividend for the nine months ended September 30, 2020[5]. - The company did not recommend an interim dividend for the nine months ended September 30, 2020, consistent with the previous year[19]. - The company issued a total of 160,000,000 ordinary shares at a price of 0.0725 HKD per share on August 24, 2020, raising approximately 5,393,000 MYR (equivalent to 10,000,000 HKD) in share premium[23]. - The company raised approximately 1.2 million HKD from the issuance of 40,000,000 subscription shares at a price of 0.03 HKD per share on October 23, 2020, with a net amount of approximately 1.1 million HKD intended for general working capital[26]. Costs and Expenses - Service costs increased by approximately 18.6% or 7.3 million MYR for the nine months ended September 30, 2020, due to rising freight charges[38]. - Financing costs for the nine months ended September 30, 2020, were approximately 708,000 MYR, slightly up from 701,000 MYR in the same period in 2019[41]. - The depreciation of property, plant, and equipment for the nine months ended September 30, 2020, was RM 3,390,000, compared to RM 2,600,000 for the same period in 2019[14]. - The interest income for the nine months ended September 30, 2020, was RM 212,000, a decrease from RM 268,000 in the same period of 2019[14]. Strategic Plans and Market Position - The company plans to closely monitor market conditions and adjust its strategies and operations as necessary to strengthen its market position in logistics services in Hong Kong[28]. - The company plans to expand its logistics business in Hong Kong to attract more Chinese and international clients, aiming to broaden its revenue base[36]. - The company is focusing on establishing new manufacturing facilities in Penang, indicating potential for business growth in the region[36]. - The company anticipates new business opportunities in Melaka, Johor, and Thailand once borders in ASEAN countries are reopened[36]. Corporate Governance and Compliance - The company has not early adopted any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective[10]. - The company has not reported any potential dilutive ordinary shares for the nine months ended September 30, 2020, resulting in basic and diluted loss per share being the same[24]. - The company confirmed that there were no competitive interests held by controlling shareholders or their close associates in any business that directly or indirectly competes with the group during the nine months ended September 30, 2020[49]. - All directors confirmed compliance with the trading standards and the company's code of conduct regarding securities transactions during the nine months ended September 30, 2020[50]. - The company adhered to the corporate governance code, except for a deviation from code provision A.2.1, during the nine months ended September 30, 2020[51]. - The audit committee, established on June 17, 2016, consists of all independent non-executive directors and is responsible for reviewing financial statements and internal control procedures[52]. - The third-quarter financial statements were reviewed by the audit committee but not audited by the company's external auditor[53].
盛良物流(08292) - 2020 Q3 - 季度财报