Revenue and Financial Performance - Air freight service revenue for the fiscal year was approximately RM 27.6 million, an increase of about 54.0% compared to RM 17.9 million in the previous year[10]. - Sea freight service revenue was approximately RM 27.9 million, a decrease of about 8.5% from RM 30.5 million in the previous year[13]. - Revenue from freight and related services was approximately RM 1.8 million, a significant decrease from RM 18.8 million in the previous year[15]. - Revenue from logistics services in Hong Kong decreased by 91.1% to approximately RM 1.6 million, down from RM 18.0 million in the previous year, representing about 1.2% of total revenue[20]. - Total revenue from integrated logistics services was approximately RM 57.4 million, a decrease of about 15.7% or RM 10.7 million compared to RM 68.0 million in the previous year[30]. - Revenue from the manufacturing and trading of plastic products was approximately RM 25.7 million in the fiscal year, an increase from RM 20.9 million in the previous year[18]. - Revenue from the trading of second-hand mobile phones reached approximately RM 51.5 million, accounting for about 38.3% of total revenue, with a pre-tax segment loss of approximately RM 3.7 million[19]. - The group recorded a loss of approximately 12.6 million MYR for the fiscal year, compared to a loss of 11.6 million MYR in the previous year[44]. Logistics and Market Strategy - The company aims to enhance its market position in Hong Kong despite intense competition in the logistics sector[8]. - The logistics services provided include air/sea freight forwarding, warehousing, and supply chain management[7]. - The company aims to expand its logistics business in Malaysia and China, focusing on cross-border freight, towing, and rail freight services[29]. - The logistics sector in Malaysia is characterized by high fragmentation and competition, impacting pricing and service offerings[8]. - The company is focused on adjusting its strategies and operations in response to market conditions[8]. - The company is committed to providing comprehensive logistics solutions to meet customer needs[7]. Corporate Governance and Board Structure - The company has a strong board of directors with a mix of executive and independent non-executive members, ensuring balanced governance[98]. - The independent non-executive director, Mr. Huang, has over 30 years of experience in accounting, finance, and auditing, enhancing the board's expertise[81]. - The company adheres to the GEM Listing Rules and has complied with all applicable corporate governance codes throughout the fiscal year[91]. - The board is responsible for setting the group's strategy and direction, as well as monitoring its execution[94]. - The company emphasizes the importance of independent judgment within the board, with a balanced composition of directors[97]. - The company has a dedicated audit committee, which is crucial for maintaining financial integrity and transparency[81]. - The board has established a trading code for directors to ensure compliance with securities trading standards[92]. - The company has a commitment to enhancing shareholder value through effective corporate governance practices[91]. Risk Management and Internal Controls - The company has established a continuous process to identify, assess, and manage significant risks faced by the group, ensuring compliance with GEM listing rules[143]. - The internal control system aims to maintain the company's assets and ensure accurate and reliable financial reporting[142]. - The board will review its risk management and internal control systems at least annually to ensure effectiveness and efficiency[142]. - The company has adopted a series of internal control policies and procedures to achieve effective operations and compliance with applicable laws and regulations[142]. - The audit committee reviewed the effectiveness of the internal control and risk management systems[120]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to sustainable development, focusing on reducing usage, maximizing resource efficiency, and promoting recycling[179]. - The company has implemented strict policies to prevent pollution and protect natural resources, complying with environmental laws and regulations[179]. - The environmental, social, and governance (ESG) report is prepared according to the Hong Kong Stock Exchange GEM listing rules, ensuring consistency and comparability of data[170]. - Key performance indicators are established to measure the effectiveness of the company's environmental and social initiatives[171]. - The company engages stakeholders through regular communication to identify significant environmental and social issues[174]. - The board of directors oversees the company's ESG policies and performance, making adjustments as necessary[175]. Employee Management and Development - The total employee compensation for the fiscal year reached 13.7 million MYR, an increase from 12.3 million MYR in the previous year, with a total of 435 full-time employees as of December 31, 2022[67]. - The employee turnover rate for 2022 was 34.9%, with 45.6% of resignations coming from employees under 30 years old[199]. - The company emphasizes employee training and development to enhance customer engagement and timely delivery[167]. - The company collaborates with local universities to provide internship programs, offering real business experience and daily expense allowances to interns[197]. - The company has implemented a key performance indicator system to evaluate employee performance based on four standards: "far exceeds expectations," "exceeds expectations," "meets expectations," and "below expectations"[195]. - The company is committed to providing a safe and healthy work environment, following occupational safety laws in the regions it operates[200].
盛良物流(08292) - 2022 - 年度财报