Tiong Nam’s move to trim the fat seen as apt

Note that logistics and warehousing were its main revenue drivers for the financial year ended March 31, 2021 (FY21), making up 98.2% of sales, even as the hotel and property segments saw its worst year in the midst of the pandemic.

PETALING JAYA: Tiong Nam Logistics Holdings Bhd’s move to cut its stake in a non-core business will reduce further earnings erosion for the group as it focuses on its core profitable logistics operations.

Note that logistics and warehousing were its main revenue drivers for the financial year ended March 31, 2021 (FY21), making up 98.2% of sales, even as the hotel and property segments saw its worst year in the midst of the pandemic.