Quarterly Report For The Financial Period Ended 30 September 2018

Financials Archive

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Condensed Consolidated Statement Of Profit Or Loss
For The Fourth Quarter Ended 30 September 2018

(This figures have not been audited)

Condensed Consolidated Statement Of Financial Position As At 30 September 2018

(This figures have not been audited)

Review of performance

The Group registered revenue growth of RM8.5 million or approximately 7% higher than 1QFY18. Details of changes in each service type are as follows:-

Compared to 1QY18, all services reported growth. The increase in revenue is mainly due to an increase in the activities of the Group in the current quarter.

As compared to 1QFY18, the Group’s Profit before Tax ("PBT") increased from RM8.3 million to RM8.6 million or 3% higher, as a result of the better performance from Airfreight, 3PL & Warehousing and Landfreight services and reversal of impairment of trade receivables.

* No meaningful comparison as Tug & Barge turnover was not consolidated as it became an associate entity since 19 December 2017.

Current year prospects

The International Monetary Fund ("IMF"), in its October 2018 World Economic Outlook report, has projected global growth at 3.7% for 2018-2019 which is 0.2 percentage point lower for both years compared to its earlier forecast in April 2018. Similarly, IMF also projected a slower 0.2 growth forecast for emerging & developing Asia region for 2019 compared with 2018. In the domestic front, Malaysia recorded GDP growth rate of 4.4% for 3Q 2018 which was lower than the 6.2% in the same quarter in 2017 & 4.5% in 2Q 2018. Bank Negara expects 2018 & 2019 GDP growth at 4.8% & 4.9% respectively.

Looking at the outlook above, the impending trade war between USA and China and currency pressure, there is negativity and uncertainties surrounding world trade. This may have a negative impact on the Group’s performance. Notwithstanding, the Group will endeavor to focus in expanding its customer base and to improve on cost management via operational efficiencies. Barring unforeseen circumstances, the Group is cautiously optimistic on a positive performance for the financial year ending 30 June 2019.