Financial Performance - For the three months ended March 31, 2023, the total revenue of the group was approximately MYR 26.6 million, a decrease of about 31.0% compared to the same period in 2022[3] - The gross profit for the same period was approximately MYR 2.5 million, down approximately 41.7% year-on-year[3] - The group recorded a net loss of approximately MYR 2.5 million for the three months ended March 31, 2023[3] - The loss attributable to the owners of the company was approximately MYR 2.5 million, compared to a loss of MYR 0.3 million in the same period last year[5] - The basic and diluted loss per share for the period was 0.40 sen, compared to 0.05 sen in the previous year[5] - The group’s total comprehensive income for the period was a loss of MYR 2.3 million, compared to a loss of MYR 0.1 million in the same period last year[4] - The adjusted loss before tax for the group was 629,000 MYR, compared to a profit of 815,000 MYR in the same quarter last year[11] Revenue Breakdown - The total revenue for the first quarter of 2023 was 26,633,000 MYR, a decrease of 30.9% compared to 38,612,000 MYR in the same period of 2022[10] - The revenue from the freight forwarding and related services segment was 6,543,000 MYR, down 72.8% from 24,051,000 MYR year-over-year[11] - The revenue from the second-hand mobile phone trading segment increased significantly to 14,220,000 MYR, up 132.3% from 6,137,000 MYR in the previous year[11] - The manufacturing and trading of plastic products segment generated 5,870,000 MYR, a decline of 30.4% from 8,424,000 MYR in the same quarter of 2022[11] - Total revenue from integrated logistics services for the three months ended March 31, 2023, was approximately MYR 6.5 million, a decrease of about 72.8% or MYR 17.5 million compared to MYR 24.1 million in the same period of 2022[32] - Air freight services revenue for the three months ended March 31, 2023, was approximately MYR 1.9 million, a decrease of about 87.2% from MYR 14.8 million in the same period of 2022[24] - Sea freight services revenue for the three months ended March 31, 2023, was approximately MYR 4.3 million, down from MYR 8.2 million in the same period of 2022, representing a decrease of about MYR 3.9 million[26] Expenses and Costs - The group’s sales and administrative expenses increased to MYR 5.4 million from MYR 4.5 million year-on-year[4] - The group’s financing costs decreased to MYR 0.114 million from MYR 0.216 million year-on-year[4] - The depreciation expense for property, plant, and equipment was 518,000 MYR, down from 787,000 MYR in the same quarter of 2022[15] - The interest income for the quarter was 32,000 MYR, a decrease from 43,000 MYR in the previous year[11] - Selling and administrative expenses were approximately RM 5.4 million for the three months ended March 31, 2023, compared to RM 4.5 million in 2022[41] Dividend and Shareholder Information - The board of directors did not recommend the payment of an interim dividend for the three months ended March 31, 2023[3] - The company did not recommend any interim dividend for the quarter ending March 31, 2023, consistent with the previous year[16] - As of March 31, 2023, Win All Management Limited holds 188,360,000 shares, representing 29.73% of the company's total shares[55] Strategic Plans and Future Outlook - The company aims to expand its logistics services in Malaysia and China to cover cross-border freight, trucking, and rail freight, capitalizing on the recovery of the regional economy[31] - The company plans to enhance its logistics operations in Hong Kong to attract more Chinese and international clients, which is expected to improve capital efficiency and generate additional investment returns[31] - The company believes that diversifying into the manufacturing and trading of plastic products and second-hand mobile phones will provide further business opportunities and expand its existing operations[31] - The company plans to utilize funds raised from a rights issue for operational capital and expansion of logistics services in Hong Kong, with a total of approximately HKD 51.9 million allocated for this purpose[45] - The company is in discussions to establish a joint venture with Suining International Limited, focusing on investments in green energy and environmental projects[50] - The company signed a strategic cooperation agreement with Zhongwei Supply Chain Limited on January 5, 2023, to enhance its supply chain business, leveraging logistics services and a broad logistics network[51] - The board decided to reallocate approximately HKD 26.1 million originally intended for expanding logistics services in Hong Kong to general working capital and investment purposes[53] Compliance and Governance - The company has complied with all applicable provisions of the Corporate Governance Code during the three months ending March 31, 2023[61] - The audit committee, consisting of independent non-executive directors, was established to oversee financial reporting and internal control processes[62] - The first quarter financial statements were reviewed by the audit committee but not audited by the company's external auditor[63]
盛良物流(08292) - 2023 Q1 - 季度财报