Acquisition and Expansion - Infinity Logistics and Transport Ventures Limited signed a share purchase agreement with Glencore Plc to acquire its warehousing and logistics business, expanding operations to 25 countries globally[24]. - The acquisition of 70% of a company focused on freight forwarding and cross-border transportation marks the first acquisition for Infinity, aimed at strengthening its third-party logistics capabilities[30]. - The company is committed to continuing its acquisition activities to enhance its investment portfolio and access larger markets[25]. - Infinity Logistics and Transport Ventures Limited is focused on expanding its global customer base through the integration of existing networks from acquisitions[25]. - The company has a vision to provide end-to-end logistics solutions, leveraging synergies from the merger with Glencore's logistics operations[25]. Financial Performance - The company's revenue for the fiscal year was approximately MYR 275,561,000, an increase of about 23.2% compared to the previous fiscal year (MYR 223,669,000)[31]. - Gross profit reached approximately MYR 70,042,000, reflecting a 32.1% increase from the previous fiscal year's gross profit of MYR 53,013,000, with a gross margin improvement from 23.7% to 25.4%[31]. - Net profit for the year was approximately MYR 42,516,000, up from MYR 25,109,000 in the previous fiscal year[31]. - The logistics center segment recorded the highest revenue growth of approximately 28.7%, attributed to the commencement of yard services and increased demand for warehouse storage during the pandemic[31]. - The container liquid bag solutions segment saw a revenue increase of approximately 23.1%, driven by improved sales from major customers[31]. - The land transportation segment experienced an 18.8% revenue growth due to increased demand for transportation services[31]. - The integrated freight forwarding segment's revenue grew by approximately 10.6%, primarily due to increased revenue from maritime services[31]. - The newly launched fourth-party logistics segment generated revenue of approximately MYR 9,600,000[31]. Sustainability and Environmental Goals - The company aims to achieve carbon neutrality by 2025 through the adoption of environmental, social, and governance initiatives[36]. - The company has established short-term and long-term sustainability goals, integrating climate-related issues and ESG elements into its long-term business strategy[73]. - The company aims to achieve carbon neutrality by 2025 by reducing and offsetting carbon emissions from its operations[97]. - Long-term goals include planting one tree for every container liquid bag produced and implementing measures to maintain or reduce air pollutant emissions[97]. - The company plans to convert all diesel material handling equipment to electric equipment in phases[99]. - The company is committed to following green building standards for warehouses and implementing a motive replacement policy to reduce emissions[98]. - The company actively promotes green logistics and environmental policies to support sustainable logistics systems[94]. - The company has established environmental policies to minimize the impact on natural resources and is committed to monitoring climate-related risks[115][117]. Governance and Compliance - The company emphasizes compliance with Malaysian environmental laws and regulations, with no significant costs expected from compliance in the future[94]. - The board of directors is responsible for overseeing the company's ESG matters and ensuring effective risk management systems are in place[74]. - The company has a board of directors that held only two regular meetings during the reporting period to discuss various matters, including annual and interim performance[159]. - The company has established procedures for directors to seek independent professional advice at the company's expense[170]. - The company maintains a clear delineation of responsibilities between the board and management to ensure effective governance[177]. - The Audit Committee consists of three independent non-executive directors, responsible for maintaining relationships with auditors, reviewing financial information, and overseeing the financial reporting system and risk management[185]. - The company emphasizes compliance with legal and regulatory requirements, as well as the effectiveness of its internal control and risk management systems[186]. Employee and Workplace Safety - The total number of employees as of December 31, 2021, was 574, an increase from 490 in 2020, with employee costs amounting to approximately 30,942,000 MYR[65]. - The overall employee turnover rate decreased from 21% in 2020 to 19% in 2021, with male turnover at 21% and female turnover at 15%[124]. - The number of workplace injuries reported was 1 in 2021, down from 4 in 2020, with a total of 35 workdays lost due to injuries[128]. - The company has maintained a zero fatality rate in workplace incidents for three consecutive years from 2019 to 2021[128]. - The company provided training to 42% of male employees and 58% of female employees in 2021, compared to 68% of male and 32% of female employees in 2020[130]. Waste and Emissions - The company generated 1.78 tons of hazardous waste during the reporting period, a significant increase from 0.22 tons in 2020[101]. - Non-hazardous waste amounted to 154.00 tons in 2021, up from 120.00 tons in 2020, resulting in a total waste generation of 155.78 tons[108]. - Greenhouse gas emissions totaled 7,224.90 tons of CO2 equivalent in 2021, an increase of 20.92% from 5,974.67 tons in 2020[103]. - Direct emissions (Scope 1) were 6,635.09 tons in 2021, up from 5,290.49 tons in 2020, while indirect emissions (Scope 2) decreased to 589.81 tons from 684.18 tons[103]. Community Engagement and Social Responsibility - The company made charitable contributions of approximately 66,000 MYR during the reporting period, down from 102,000 MYR in the previous year[156]. - The company is committed to community investment and has established long-term relationships with stakeholders to positively impact community development[156]. - The company provided anti-corruption training to 102 directors and employees during the reporting period, an increase from 61 in the previous year[154]. Supplier Management and Quality Control - The company prioritizes suppliers with ISO 14001 certification and environmentally friendly practices in its supplier selection process[138]. - Quality control measures are in place to ensure high service standards, with regular management reviews and employee training[144]. - The company has established a quality management system that includes supplier selection and operational monitoring to maintain service quality[145].
鹰辉物流(01442) - 2021 - 年度财报