Financial Performance - For the nine months ended September 30, 2021, the total revenue was approximately RM 61.6 million, an increase of about 12.2% compared to RM 54.9 million for the same period in 2020[3]. - The gross profit for the nine months ended September 30, 2021, was approximately RM 7.7 million, a decrease of about 9.1% from RM 8.5 million in the same period of 2020[3]. - The company recorded a net loss of approximately RM 5.0 million for the nine months ended September 30, 2021, compared to a net loss of RM 3.9 million for the same period in 2020[3]. - For the three months ended September 30, 2021, the revenue was RM 22.8 million, compared to RM 21.0 million for the same period in 2020, reflecting an increase of approximately 8.5%[4]. - The gross profit for the three months ended September 30, 2021, was RM 3.2 million, slightly up from RM 3.1 million in the same period of 2020[4]. - The total comprehensive loss for the nine months ended September 30, 2021, was RM 3.9 million, compared to RM 3.2 million for the same period in 2020[5]. - The company reported a basic and diluted loss per share of 3.7 sen for the nine months ended September 30, 2021, compared to 4.7 sen for the same period in 2020[5]. - The group reported an adjusted loss before tax of (2,360) thousand MYR for the nine months ended September 30, 2021, compared to a profit of 1,954 thousand MYR in 2020[11]. - The group recorded a loss of approximately 5.0 million MYR for the nine months ended September 30, 2021, compared to a loss of 3.9 million MYR for the same period in 2020[42]. Revenue Breakdown - The revenue from freight forwarding and related services for the nine months ended September 30, 2021, was 48,431 thousand MYR, down 12% from 54,917 thousand MYR in 2020[9]. - The manufacturing and trading of plastic products generated revenue of 13,165 thousand MYR for the nine months ended September 30, 2021, compared to no revenue in the same period of 2020[9]. - Revenue from air freight services accounted for approximately 18.9% and sea freight services accounted for 37.0% of total revenue for the nine months ended September 30, 2021[36]. - The revenue from non-air and non-sea freight services was approximately 14.0 million MYR for the nine months ended September 30, 2021, compared to 19.5 million MYR for the same period in 2020[29]. - The revenue from air freight forwarding services for the three months ended September 30, 2021, was 6,332 thousand MYR, an increase of 11% from 5,718 thousand MYR in 2020[15]. - The revenue from sea freight forwarding services for the three months ended September 30, 2021, was 9,045 thousand MYR, an increase of 24% from 7,288 thousand MYR in 2020[15]. - Air freight service revenue for the nine months ended September 30, 2021, was approximately 11.6 million MYR, down from 14.6 million MYR in 2020[27]. - Sea freight service revenue for the nine months ended September 30, 2021, was approximately 22.8 million MYR, an increase from 20.8 million MYR in 2020[28]. Dividends and Share Capital - The board of directors did not recommend the payment of an interim dividend for the nine months ended September 30, 2021[3]. - The group did not declare an interim dividend for the nine months ended September 30, 2021, consistent with the previous year[17]. - The company completed the acquisition of 51% of the issued share capital of Zhongying Limited for 6.6 million HKD, settled by issuing 20,000,000 shares at an issue price of 0.33 HKD per share[22]. - The company plans to increase its authorized share capital from 10 million HKD to 100 million HKD, allowing for the issuance of an additional 900 million shares[25]. - The company raised approximately 1.9 million HKD from a placement of up to 12 million shares at a price of 0.17 HKD per share, completed on March 16, 2021[25]. - The company also raised approximately 3.82 million HKD from a placement of up to 26.4 million shares at a price of 0.15 HKD per share, completed on June 22, 2021[25]. - The weighted average number of ordinary shares for the nine months ended September 30, 2021, was 136,536,264 shares, compared to 82,160,583 shares for the same period in 2020[24]. - The company has a total of 8,000,000 shares (5.1% of issued shares) available for issuance under the share option scheme as of September 30, 2021[50]. Expenses and Costs - The company incurred administrative expenses of RM 3.9 million for the three months ended September 30, 2021, compared to RM 4.1 million in the same period of 2020[4]. - The depreciation expense for property, plant, and equipment for the nine months ended September 30, 2021, was 2,986 thousand MYR, compared to 3,390 thousand MYR in 2020[11]. - The group incurred total financing costs of (580) thousand MYR for the nine months ended September 30, 2021, down from (708) thousand MYR in 2020[11]. - The service costs increased by approximately 16.0% or 7.5 million MYR, primarily due to the new manufacturing and trading of plastic products business, which contributed costs of about 11.2 million MYR[38]. Strategic Plans and Market Position - The company aims to strengthen its market position in logistics services in Hong Kong while closely monitoring market conditions for necessary strategic adjustments[26]. - The group plans to expand its logistics business in Hong Kong to attract more Chinese and international customers, aiming to broaden its revenue base[35]. - The group intends to further expand its operations in Malaysia and China to cover cross-border freight, towing, and railway freight services[35]. Corporate Governance - The board confirmed compliance with the corporate governance code during the nine months ended September 30, 2021[54]. - The audit committee, consisting of independent non-executive directors, was established to oversee financial reporting and internal controls[55]. - No competitive interests were reported by major shareholders or their associates during the nine months ended September 30, 2021[52]. - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended September 30, 2021[51]. - The board confirmed that all directors complied with the trading standards and the company's code of conduct regarding securities transactions during the nine months ended September 30, 2021[53]. - The company maintains its unutilized balance of raised funds as bank deposits in reputable banks[45].
盛良物流(08292) - 2021 Q3 - 季度财报