The 20-year contract secured by its unit Metro Parking Management Philippines Inc would also include the construction of an additional 208-bays of steel deck parking structure in MBP - a bustling business hub in the affluent suburb near Alabang Town Centre, one of Metro Manila
KUALA LUMPUR: Tri-Mode System (M) Bhd
(Tri-Mode) posted a loss after tax of RM511,000 for the second quarter ended June 30, 2018, on the back of fewer working days due to Hari Raya and the general election, as well as one-off listing expenses.
The integrated logistics service provider saw revenue come in at RM21.19mil, a slight decrease of 2.12%, compared to RM21.65mil recorded a year ago.
In a statement, the group said its normalised performance without the one-off non-recurring expenses result in adjusted profit before tax and adjusted profit after tax at RM1.72mil and RM1.59mil for the quarter.
Tri-Mode’s sea freight segment remained the largest revenue contributor, comprising approximately 63.04% at RM13.36mil for the quarter followed by revenue contribution from container haulage and air freight services, which contributed 29.39% and 5.66% respectively to total revenue for the period.
Malaysia remained the main country of operations for Tri-Mode, making up of about 88.78% of the group’s total revenue.
Group MD, Dauk Hew Han Seng said the group’s revenue for the first half of FY18 came in at RM43.25mil, a rise of 5.33% from the same period a year ago.
“We are pleased to share that we have successfully grew our business for the first half of 2018, without utilising the IPO funds raised for our new capital expenditure plans, and we foresee to continue sustaining our business and generate positive bottom line for the second half of financial year 2018,” he said.
The group also recently signed an e-commerce logistics agreement with Taiwan Hiclicks platform operator for an exclusive right to operate the e-commerce logistics platform in Malaysia under Hiclicks Malaysia.
“We are expecting to launch the platform in September of 2018, and we believe that our venture into the e-commerce logistics industry in Malaysia will add value to our existing businesses by integrating logistics services solutions into selected e-commerce platforms, simultaneously expanding our air freight business in Malaysia,” he added.
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