History of Company

Use of Proceeds

1. Construction of a new warehouse – 17.6% (within 18 months)
2. Purchase of land – 25.7% (within 18 months)
3. Purchase of prime movers – 7.4% (within 18 months)
4. Repayment of bank borrowings – 43.1% (within six months)
5. Estimated listing expenses – 6.2% (within three months)

Financial Data

1. FYE 2019 has the highest revenue, decreasing gradually due to COVID-19.
2. The gearing ratio declined steadily from 1.8 in 2018 to 1.4 in 2021. The decline shows that the company's total debt is decreasing over the year.
3. The current ratio increases from 0.7 to 0.9 in 2021, showing that the current asset has escalated.

Business Segment

1. Other services collectively accounted for 0.5%, 0.8%, 0.3% and 0.2% of company’s total revenue for the FYE 2018, FYE 2019, FYE 2020 and FPE 2021, respectively.
2. 3S = Sales, service, and spare parts mainly based on dealership agreements.
3. Other markets collectively accounted for 3.5%, 3.8%, 3.2%, and 6.2% of the company’s total revenue for FYE 2018, FYE 2019, FYE 2020, and FPE 2021, respectively.
4. Indirect channels accounted for 26.4%, 28.1%, 27.6%, and 31.7% of our total revenue for FYE 2018, FYE 2019, FYE 2020 and FPE 2021, respectively.

Major customer & suppliers

Future Plans and Strategies

1. Construction of a new warehouse
2. Purchase of land
3. Acquisition of cold-chain logistics companies
4. Purchase of prime movers

MQTrader Views

Opportunities

1. Main seaports in Peninsular Malaysia for container haulage are covered.
2. Ten years of experience in the provision of integrated logistics services
3. Owning a fleet of commercial vehicles to bolster container haulage and land transportation services.

Risk

1. Business operation depends on license, permit, and approval from regulatory authorities.
2. The company's profitability is adversely affected by the fluctuation of diesel prices.