Quarterly Report For The Financial Period Ended 31 December 2017

Financials Archive

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Condensed Consolidated Statement Of Profit Or Loss
For The Second Quarter Ended 31 December 2017

(This figures have not been audited)

Condensed Consolidated Statement Of Financial Position
As At 31 December 2017

(This figures have not been audited)

Review of performance

The Group registered a revenue growth of RM16.6mil or approximately 14% higher than 2QFY17. Details of changes in each service type are as follows:-

Compared to 2QY17, all services reported growth other than the Tug & Barge service where Tug & Barge service reported 2 months for 2QFY18 compared to 3 months for 2QFY17. Seafreight contributed the highest revenue contributions while there are commendable growth registered in 3PL & Warehousing and Landfreight services. The higher revenue in this 2QFY18 are mainly due to increase of activities.

As compared to 2QFY17, the Group’s Profit Before Tax (“PBT”) increased from RM6.9 mil to RM7.9 mil or 15%, as a result of gain on dilution on investment in TCH.

Current year prospects

The International Monetary Fund (“IMF”), in its January 2018 World Economic Outlook report, has raised 2017 projected growth to 3.7% (2016: 3.2%), whilst 2018 growth is projected at 3.9%. Meanwhile, the growth forecast for 2017 and 2018 for the emerging & developing Asia region is at 6.5% which is slightly above 2016’s growth rate of 6.4%. At the same time, Malaysia’s GDP for 4th Quarter 2017 grew 5.9% (4Q 2016 : 4.5%).

The positive improvement in the domestic and global economy as noted above are encouraging to the Group as its prospects are much related to the performance of the economy. The Group will also continue to strengthen further on its customer base and operational efficiencies. Barring unforeseen circumstances, the Group expects its performance to be positive for the financial year ending 30 June 2018.