Pandemic-linked record profits are over, says FM Global Logistics chief.

We are still confident of achieving a steady growth for FY23, based on what we have seen in our figures historically,” says Chew.

FM Global Logistics Holdings Bhd posted a 46.35% jump in net profit for the fourth quarter ended June 30, 2022 (4QFY22), to RM12.56 million from RM8.58 million a year prior, on the back of increased business activities in both its Malaysian and overseas operations.

FM Global Logistics Holdings Bhd’s net profit in the third quarter ended March 31 (3QFY22) almost doubled to RM11.91 million from RM6.05 million a year earlier, underpinned by lower impairment losses on receivables, and increase of business activities from both Malaysian and overseas operations.

The supply chain disruption, which led to global container shipping rates increasing to four to five times 2019 levels, is unlikely to ease anytime soon, predicts Chew Chong Keat, group managing director of FM Global Logistics Holdings Bhd (FM Global), formerly known as Freight Management Holdings Bhd.

FM Global Logistics Holdings Bhd (formerly Freight Management Holdings Bhd) posted a 77.6% year-on-year (y-o-y) increase in pre-tax profit to RM16.4mil for the second quarter of its financial year ending June 30, 2022.

Freight Management Holdings Bhd is buying three US-based freight forwarding services companies for a combined US$2.2 million (approximately RM9.2 million), as part of the group's expansion initiatives into selective international markets.

Freight Management Holdings Bhd’s net profit climbed 61.41% to RM6.65 million in the second quarter ended Dec 31, 2020 (2QFY21), from RM4.12 million a year ago on the back of higher revenue.

Freight Management Holdings Bhd (FM) does not want to be too Malaysia-centric, especially when bigger markets beckon.